LNG producer Sonatrach signs $490M deal with Chinese major Sinopec for Illizi basin in eastern Algeria
Sonatrach, the Algerian national energy company and LNG producer, said it signed an agreement worth US$490 million with Chinese major Sinopec in the form of a production sharing contract for the Zarzaitine block in the Illizi basin of eastern Algeria.
BP posts biggest profit in eight years amid volatile gas markets and new field brought on stream in Angola
UK major BP has reported its highest profit in eight years in the fourth-quarter earnings statement amid volatile forward natural gas prices during 2021 and said it was “performing while transforming” and investing in only “focused” hydrocarbon ventures like a field recently brought on stream in Angola.
China's Sinopec extends Arab world presence with Algeria accord after Qatar LNG and Iraq gas deals
Sonatrach, the Algerian state energy company and operator of two liquefied natural gas export plants, and Sinopec of China, an importer of LNG from nations like Australia, have signed an accord to extend and broaden the Chinese major’s 20-year oil producing role in the North African country.
Chinese major Sinopec reports big drop in profits amid rising LNG imports and economic recovery
China Petroleum and Chemical Corp., or Sinopec, the largest Chinese owner of oil refineries and with growing LNG volumes to match its contracted Australian supplies, reported a tumble in net profits of almost 46 percent in the year to date because of the double challenges in the energy market.
