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Article: ALGERIA - North Africa Capacity Expansion - The Oil Refining Sector
- Article from:
- APS Review Downstream Trends
- Article date:
- January 11, 1993
CopyrightCOPYRIGHT 1993 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Algeria has no plans to expand its oil refining sector at present. With project finance being tight worldwide, available capital is being channelled into projects in the upstream sector. In the view of some Sonatrach executives, expansion of the refining sector would not merge well with government efforts to cut domestic oil consumption.
In addition, Premier Belaid Abdessalam is focusing on making the country financially solvent through austerity measures. Thus projects of peripheral importance would have to wait until the economic climate improves. This means, among other things, that more than $25 billion worth of foreign debts would have to be "reprofiled", an ...