Sonatrach eyeing a new economic approach, based on local transformation of hydrocarbon raw materials

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Sonatrach is aiming at a new economic approach based on the local transformation of hydrocarbon raw materials for the creation of added value and employment, Sonatrach’s CEO, Abdelmoumen Ould Kaddour, reaffirmed on Thursday.

“We are working with foreign partners as part of a new economic approach, that is, we will try to transform our raw materials into Algeria, for the creation of employment and added value, as we allow to export anything but crude and gas, “Ould Kaddour told a press briefing after a visit to the region of Gassi Touil and Hassi Messaoud province.

In this regard, he recalled that Algeria imported up to two (2) billion dollars of refined products (fuels).

Considering that it is nonsense for a country to limit itself to extracting only hydrocarbons, Sonatrach’s main official argued that Algeria has opted for the “imminent” passage to the upgrading of hydrocarbons primary.

“Currently, Algeria exports its raw products and we have no added value,” he added, noting a virtual absence of petrochemical activities in the country.

Mr. Ould Kaddour indicated that there is currently a whole program of development of petrochemicals in the process of maturation that will begin to take shape at the beginning of 2018.

 

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