Algeria plans to double its refining capacity in the next five years to meet growing domestic demand and expand its petrochemical industry, Energy Minister Youcef Yousfi said Tuesday.
Algeria
plans
to double its refining capacity in the next five years to meet growing domestic
demand and expand its petrochemical industry, Energy Minister Youcef Yousfi
said Tuesday.
"The current refining capacity in
Algeria
stands at around 700,000 barrels per day, which will double in the next five
years through completing six new refineries," Mr. Yousfi said, according
to the official Algerie Presse Service.
"The increase in refining capacity will allow
Algeria
to
meet its domestic needs until 2040 and develop petrochemical industries near
the refineries," he added.
Algeria
, a
member of the Organization of the Petroleum Exporting Countries and holder of
Africa
's
fourth-largest crude reserves, produced 1.16 million barrels of oil a day last
month, the same as in February, according to a survey conducted by Dow Jones
Newswires.
Algeria
's
state-run energy group, Sonatrach, previously said it plans to invest $80
billion in oil and natural gas projects until 2016 as it seeks to expand the
gas resource base, boost refining and petrochemical capacity and curb the
country's reliance on imported fuel.
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01