IOCs Interested in Algerian Refining

Wednesday, February 22, 2017

Sonatrach’s tender for the construction of four refineries has attracted a large amount of interest. According to the Algerian state-run firm, it has received 49 offers from international energy companies to build the refineries.

Algeria, through Sonatrach and the refineries, is looking to bring a halt to costly imported refined crude.

“Our plan is to stop importing refined products by 2018,” a Reuters source said. “Selling refined products rather than crude oil is a good way to boost revenues.”

Algeria is also considering a petrochemicals partnership with Saudi Arabia’s SABIC, details of which are expected to be unveiled shortly, according to the source.

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