Algeria’s Sonatrach eyes partnerships with Exxon Mobil
October 01, 2019 | Algeria, Contracts, Mergers, Acquisitions & JVs
Algiers, Algeria | – Algeria’s state-owned Sonatrach held meetings with Exxon Mobil last week to discuss possible partnerships, a Sonatrach statement said on Monday, a week after it said it had talked with America’s Chevron Corporation. Sonatrach gave no further details of the September 25 and 26 meetings but the energy producer has said it wants to boost output to increase revenues after a decline in prices hit its budget. Some 95% of Algeria’s foreign revenue comes from oil and gas sales. Since energy prices …