Sonatrach to refine crude oil in Italy to cut fuel import bill

TIGUENTOURINE (ILLIZI) – Company Sonatrach has signed last Monday a contract of processing with an Italian oil refinery.
Under this contract, the Algerian group will process on its own a share of the Algerian crude oil into fuel in Italy, said Tuesday CEO Abdelmoumen Ould Kaddour.
Holding a news briefing following his visit to Tiguentourine (Illizi), Ould Kaddour has reaffirmed that Algeria could no longer import fuel for nearly two billion dollars per year.
Asked by APS to give more details about the processing contract, Ould Kaddour said that Sonatrach would rent the equipments of an Italian refining firm to conduct its refining operations. This would allow the company to obtain fuel at a cheaper price.
The Algerian oil company had launched an international invitation to tender in this regard.
CEO of Sonatrach also announced that the Group was planning to launch at least 2 projects in petrochemistry.
11.5 million tonnes of fuel are refined in Algeria, while the annual consumption, which soared over the last years hit 15 million de tonnes.

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