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Algeria Press Service

Current exchange rate Algerian Dinar|23/04/2017

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29/04/2017 00:37

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PARIS- The Chief Executive Officer of Sonatrach Abdelmoumen Ould Kaddour said Thursday, in Paris, that Algeria will maintain its level of oil and gas exports, while ensuring the security of the supply of the domestic market.

“We will continue to ensure the security of the supply of our domestic market. We will try to maintain, and eventually increase the level of oil and gas exports,” said the CEO in his speech at the 18th International Oil Summit, after having broached the challenges and opportunities of the hydrocarbons industry in Algeria.

He told the participants in this summit, made up of ministers, heads of companies operating in the sector of oil and gas as well as international experts, that Algeria’s ambition is to become an “attractive place” for the international oil industry.

 “I have a clear vision of the future of energy in my country and the role my company could play in the future,” said Ould Kaddour.

He said, in this regard, that Sonatrach aims at diversifying its activities and invest more in renewable energy sources, particularly in solar energy, which Algeria enjoys in abundance. 

Published in ECONOMY

ORAN- The national hydrocarbon company SONATRACH intends to devote more resources for the development of renewable energy, said Tuesday in Oran (431-km west of Algiers) its new CEO Abdelmoumene Ould Kaddour.

In an address at the opening of the 7th North Africa Petroleum Exhibition & Conference, NAPEC 2017, read on his behalf by SONATRACH vice-president Ahmed Fettouhi, Ould Keddour said that the group would invest more in electricity production from renewable energy sources, like solar energy.

"SONATRACH seeks to become, in the near future, one of the leading players in this segment, considered as a national priority by the President of the Republic," he added.

"We have an ambitious programme for the development of renewable energy and we want to achieve it with the contribution of national and international companies, both public and private," he said.

In this regard, he recalled that some projects have been already launched in partnership with other firms with a view to contributing to the achievement of the national renewable energy programme.

SONATRACH also intends to develop human resources to ensure specialization in the technical fields and open new career advancement opportunities for its workers, said Ould Kaddour. .

The newly appointed CEO added that SONATRACH, with the support of the public authorities, seeks to increase its investments in the hydrocarbon sector, under an efficient strategy, in order to preserve energy security of the country, contribute to the national economic development and maintain its market shares abroad.

Published in ECONOMY

ALGIERS- Minister of Energy Noureddine Boutarfa on Monday chaired a Sonatrach Borad of Directors' meeting and installed Abdelmoumen Ould Kaddour as chief executive officer of the national oil group in replacement of Amine Mazouzi, the ministry of Energy said in a statement.

The minister of Energy called the new CEO of Sonatrach "to act responsibly and with full confidence to make quality changes allowing Sonatrach to evolve and flourish in a good business climate, conducive to initiative taking and decision making," the statement said.

He also invited the CEO and the top executives of Sonatrach "to show an unfailing commitment to preserving the group's interests and managerial practices to allow it to adapt to changes."




Published in ECONOMY