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Algerian State Oil Company, Sonatrach Announces Export Volume Declined

08-30-2007

Sonatrach, of Algeria, the No. 2 supplier of natural gas to Europe after Gazprom, of Russia, said that its export revenue fell 1 percent in the first half.

Sonatrach said it exported $26.8 billion in oil and gas in the period. Export volume dropped 3 percent.

The state-run Sonatrach accounts for about 10 percent of the European Union's gas supply and Gazprom 25 percent. Sonatrach and its foreign partners produce more than 1.3 million barrels of crude oil a day.