Sonatrach Can Not Import Wood, Iron And Chemicals

Sonatrach Public Energy Company signed an agreement with national companies to guarantee its financing of locally produced raw materials such as wood, iron and chemicals.

The oil company decided to use the National Defense Ministry to secure its sites via video technology, the control of entries, the response to the incursion and the revival of communication system and the rehabilitation of the existing facilities as well. 

Sonatrach signed, on Tuesday, in Algiers three framework agreements with the Algerian Complex for Chemical Specialties (ACS), Divindus (for various industries) and Logetrans for the delivery of services in the framework of upgrading the national production.

The signing ceremony took place in the General Directorate of Sonatrach in the presence of the General Manager of the complex and the heads of the three public complexes that belong to the Ministries of Industry, Public Works and Transport.

These framework agreements will guide the delivery of services by the three complex companies in various fields, such as chemicals, pharmaceuticals, transportation, shipping, wood, and iron conversion to Sonatrach and its branches.

On the other hand, Sonatrach signed a fourth framework agreement with the Video Surveillance Systems Corporation of the Ministry of National Defense concerning the complete completion of projects in the field of video surveillance, intrusion control, access control, upgrading of communication systems, and rehabilitation of the existing facilities.

A fifth framework agreement was signed between Sonatrach and the National Flower and Greenhouses Establishment of the Ministry of Agriculture, Rural Development and Fisheries.

These agreements are part of the consolidation of the policy of the Sonatrach Complex to promote the national production tool and to reflect the objectives that are set by the State in reducing imports and converting foreign currency.

For more than a year, Sonatrach has been trying to cut its costs significantly, with its revenues that are expected to reach $ 30 billion by the end of December, with a terrible drop compared to the good financial years before 2014.

The price of a barrel of oil stands between 60 and 65 dollars a month ago, which is the highest price since the beginning of the “oil crisis of July 2014”. 

Observers predict the stability of the price of black gold above 60 dollars in 2018, according to indicators in the oil market.