The revenues of the Sonatrach group, in Algeria, should increase by fifty (50) billion dollars by the end of the current year, according to its chairman and managing director. See you quickly in the rest of our edition of Friday, June 24, 2022, to discover more information on this subject.
If the world comes up against the impacts of the Russo-Ukrainian war, the Algerian territory obviously does not escape it but seems to stand up to it. Considered the future major partner of an EU in search of alternatives to Russian energy, it finds itself in a favorable condition for the prosperous development of its economy. Evidenced by the latest figures revealed by the CEO of the Algerian giant, Sonatrach this case.
The first officer of the said Algerian oil and gas group has indeed indicated that the first company on the African continent is planning a considerable increase in national hydrocarbon exports in 2022. That is a total volume reaching fifty (50) billion dollars.
This is also highlighted by Toufik Hakkar, CEO of Sonatrach. He spoke to President Abdelmadjid Tebboune who was on a working visit to Oran, during the presentation of Sonatrach’s main projects. Those made during the period from 2020 to 2022.
This anticipated increase in revenue then finds its explanation, in the opinion of the same official, in the fact that the prices on the oil market and that of gas have not ceased to climb since the beginning of the Russian offensive in Ukraine.
A revival of activity for Sonatrach which is returning to growth!
After the long and difficult period of health crisis linked to the pandemic of the new coronavirus, the national hydrocarbon company is raising its head. The volume of exports amounted to 35.4 billion dollars last year. That is an increase of 75% compared to the year 2020.
This is what the CEO of Sonatrach, Toufik Hakkar, insisted on recalling. The latter said, in the same vein, that the favorable situation of the gas market has made it possible to increase Algerian exports by 54% in 2021 and by 13% by the liquefaction process.
Sahara Blend prices saw a 68% increase at the end of May 2022 compared to the same period in 2021”. It is always a question of what the aforesaid speaker specified. To this end, Toufik Hakkar presented an exhaustive assessment of the development of refining and petrochemicals and whose success is split into 4 dimensions.
Namely the development of local resources, the attraction of partners. In addition to the guarantee of the competitive capacity of the projects and the choices of the projects. According to his declarations, the current year will see greater growth in the production and sales of the Sonatrach group.
