Sonatrach
From Wikipedia, the free encyclopedia
Sonatrach is an Algerian government-owned company formed to exploit the hydrocarbon resources of the country. Its diversified activities touch all the chain of production: exploration, extraction, transport, and refining. It has diversified into petrochemistry and the desalination of seawater.
Sonatrach is the largest Algerian company and the 11th oil consortium in the world. Its gross sales (as of 2002) was 1530 billion dinars for a net income of 175 billion. The company, which employs approximately 120,000 workers, produces by itself 30% of the GNP of Algeria. Annually it produces (as of 2002) 206 million tep, including 11.7 % (24 million tep) for the domestic market. Its subsidiaries include Naftal, for domestic fuel distribution. It owns 50% of Numhyd, a joint venture with Tunisia's ETAP, and ALEPCO, a joint venture with Libya's National Oil Corporation.
Sonatrach was founded in December 1963. It gained control over all Algerian petrochemical resources following President Houari Boumedienne's nationalisation of all French oil and gas holdings in 1970-1971. From 1986, it became possible for foreign hydrocarbon companies to do business in Algeria within a partnership with Sonatrach; this process was simplified in 1991.
Hydrocarbons play a crucial role in Algeria's economy, providing 97% of export earnings; as a result, Sonatrach is politically very important. Most Energy Ministers of Algeria have come from a Sonatrach background.
[edit] Presidents
- List incomplete.
- Sid Ahmed Ghozali (1966-1977)
- ...
- Yousef Yousfi (1985-1988)
- Sadek Boussena (1988-1990)
- Abdelhak Bouhafs (1990 - 1995)
- Nazim Zouioueche (March 1995-1997)
- Abdelmadjid Attar (July 1997-1999)
- Abdelhak Bouhafs (December 1999-2001)
- Chakib Khelil (March 2001-2003)
- Mohamed Meziane (September 2003-present)
