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  • 25-07-18

    Algeria's Sonatrach negotiates trading joint venture with oil companies

    (MENAFN) Algeria's Sonatrach was unveiled to be negotiating for a trading joint venture with major oil and trading companies.

    The move has come after the Algerian state energy company secured an agreement within this year for the purchase of its first refinery abroad.

    Two sources revealed the move to create the venture to have been forecast to be launched at the end of this month, however it might be postponed by a month.

    Sonatrach CEO Abdelmoumen Ould Kaddour noted while speaking to Reuters that "the foreign firm will have small shares in the trade joint venture."

    MENAFN2507201800450000ID1097197548

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