Rising Energy-Import Bill Deepens Tunisia’s Economic Troubles

12 Jul 2016   Tunisia

Political turmoil curbed oil and gas investment, says minister Nation is suffering high unemployment, declining energy output Social and political unrest in Tunisia is reducing energy production, adding to the economic pressure on the fragile nation that was the only real success story to emerge from the Arab Spring. The North African country’s energy-import bill has risen 45 percent to 5.5 billion dinars ($2.5 billion) since 2010, government data show. Domestic oil production dropped by about a quarter over the same period to 63,000 barrels a day last year, according to BP Plc data. Only one exploration well has been drilled this year, instead of the eleven planned, and international companies are pulling out amid strikes and protests. “Exploration, research and development of the hydrocarbon sector witnessed a significant decline in recent years, mainly due to social unrest and political instability,” Minister of Energy and Mines Mongi Marzouk said […]

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