ALGERIA intends to increase its crude oil output by more than 50% by 2004, said Algerian Energy and Mining Minister Shakib Khelil, from its present level of 900000 to 1.4m barrels per day. The hydrocarbons sector is the backbone of the Algerian economy, accounting for roughly 52% of budget revenues, 25% of Gross Domestic Product (GDP), and over 95% of export earnings. “If we don’t restructure ourselves, we are going to be missing the boat again as we did in 1975”, he said. – AFP