Continental Focus, International Reach

Sonatrach Extends Agreement with Vitol

Thursday, February 28, 2019

Algeria’s state-owned oil company, Sonatrach, extended its agreement to sell crude oil to Swiss trader Vitol until the end of April. The agreement, which actually expired in 2018, covers the delivery of 2 million barrels of crude per month.

In return Vitol sends refined products like gasoline and diesel to Algeria.

According to a Reuters report, Sonatrach is planning to allocate more crude oil to Vitol under the new deal, as Algeria’s needs for petroleum products are becoming increasingly important.