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20:01 GMT
Algeria expects reduction of oil revenues ALGIERS, April 1 (KUNA) -- Algerian oil revenues are expected to decrease five percent at the end of 2007, reaching USD 50-51 billion when compared to USD 54 billion in 2006, Algerian Minister of Energy and Mining Chekib Khalil said Sunday.
Khalil was quoted by Algerian national radio as saying this reduction will not effect the overall income of oil revenues when taking into consideration the implantation of taxes on Algerian oil companies effective since last August.
The Algerian Minister said oil prices will continue at current levels which reached in the last couple of days USD 68 per barrel.
The main effective elements on the oil market including supply and demand goes back to Oil Production Exporting Countries' (OPEC) capabilities and contribution which will help boost the oil market, Khalil said. (end) ft.mb KUNA 012301 Apr 07NNNN