Deficit in primary energy balance falls 3% at end of October 2023


Deficit in primary energy balance dropped 3% at the end of October, compared to the same period last year, to 4 million tonnes of oil equivalent (Mtoe), including royalties.

This is the result of lower primary energy demand with hydrocarbon production having a negative impact, the monthly report on the energy situation published by the National Observatory of Energy and Mines showed.

The energy independence rate, which represents the ratio of the resources of primary energy by primary consumption, stood at 49% at the end of October, posting a quasi-stability compared to the same period last year.

Excluding royalties, the independence rate would stand at 38% by late October, showing a quasi-stability in comparison with the same period last year.

Primary energy resources amounted to 3.8 Mtoe by the end of October, falling 4% in comparison with the same period last year. This is due to lower crude oil and natural gas production.

Primary energy resources are still dominated by national oil and gas productio
n which account for 73% of overall primary energy resources.

Primary energy demand shrank 4% between late October 2022 and the end of October 2023. Natural gas demand fell 4%, while demand of petroleum products dropped 3%.

Natural gas demand shrank 4% as a result of lower purchases of Algerian gas. The National Company of Electricity and Gas (STEG) shifted towards electricity imports to meet national demand.

The pattern of primary energy demand showed few changes. The share of oil products rose from 47.4% by late October 2022 to 47.8% by the end of October 2023. The share of natural gas edged down from 52.2 % to 51.8% during the same period.

Source: Agence Tunis Afrique Presse