Sonatrach forecasts 33 billion USD in revenues for 2021

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ALGIERS- The National oil group Sonatrach forecasts revenue of between 30 and 33 billion USD for the year 2021, said Tuesday in Oran its CEO Toufik Hekkar.

“For the year 2021, we expect revenue of 30 to 33 billion USD, depending on the evolution of the oil market, “said Hekkar, on the sidelines of a working visit to the refinery of Arzew (east of Oran).

Sonatrach’s CEO confirmed that the group’s revenues are experiencing a “significant improvement” during this year versus 2020, which was impacted by the health crisis of Covid-19.

The group reached the revenues of 2020 in less than 9 months of the current year, he added.

“We have already earned, as from the beginning of the year to August 21, some 20 billion USD, equivalent to the revenue of the entire year 2020,” he pointed out.

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