(MENAFN- Kuwait News Agency (KUNA)) Algerian state-owned oil company, Sonatrach, had exported USD 72 billion worth of oil in 2011, an increase of 26 percent than the year before.
Sonatrach Director General Abdulhameed Zarqeen Tuesday expressed "great satisfaction" at these results specially when considering the turbulant oil markets.
Sonatrach had invested USD 12 billion last year and plans to raise the figure to USD 15.8 billion this year, Zarqeen was quoted by the Algerian radio as saying.
He said the company would also expand its transportation and marketing networks in and outside Algeria.
Sonatrach plans to invest up to USD 60.8 billion between 2012-16, he added.
Zarqeen, on the other hand, said Sonatrach could resume operations in Libya soon.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.