Sonatrach extends oil swap deal with firm Vitol to April

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Sonatrach has extended its crude for oil products deal with firm Vitol from the end of 2018 until the end of April this year, Reuters reported.

 

As part of the deal that kicked off in February last year, Vitol would load up to 2 million barrels a month of crude and send back refined products like gasoline and gasoil in return.

In this aspect, Sonatrach could allocate more crude to Vitol based on the country’s fuel needs.

Vitol and Sonatrach did not immediately respond to requests for comment.

Vitol is one of the four companies that Sonatrach has shortlisted for a trading joint venture which is expected to be finalised by mid-year, sources familiar with those talks told Reuters.

 

Reuters

 

 

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