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FINANCIAL NEWS
Algeria’s Sonatrach exports USD37.7b of oil in H1
15 Jul 2012
(MENAFN) Algeria’s Sonatrach’s CEO, Abdelhamid Zerguine, stated that the value of the company’s oil exports during the January-June period reached USD37.7 billion, reported Xinhua News.
During the period, revenues of the state-run energy giant from oil taxes that have been paid to the Treasury reached more than USD30 billion.
The group’s total output reached 102 million tons oil equivalent (TOE) later June, which includes 57.2 million TOE exported.
In order to increase hydrocarbon exploration, refining and petrochemical, the company will invest between USD68.2 billion and USD80 billion from 2012 to 2016.
It is worth noting that last year, Algeria’s oil exports jumped by 27 percent from 2010’s USD56.1 billion to USD71.5 billion.
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