Algeria plans to double its refining capacity in the next four to five years to meet growing domestic demand, a senior official at the state-run energy firm said Wednesday.
Algeria plans to double its refining capacity in the next four to five
years to meet growing domestic demand, a senior official at the state-run
energy firm said Wednesday.
"Our refining capacity currently stands at around 700,000 barrels per day,
and we are planning to double it in next four to five [years] to 1.4 million
barrels per day," Senior Sonatrach director Kamel Chikhi told the World
Energy Congress in South Korea.
The expansion will be done by building new refineries and will allow
Algeria
to
meet its soaring domestic needs, he added.
Algeria
, a
member of the Organization of the Petroleum Exporting Countries and holder of
Africa
's
fourth-largest crude reserves, produces 1.2 million barrels of oil a day.
Sonatrach has 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.
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