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Sonatrach acquired Augusta refinery in Italy

Energia Petrolio Gas JIACC

The signing of the deal was attended by Algeria’s Ambassador to Italy, H.E. Abdelhamid Senouci Bereksi, Sonatrach CEO Abdelmoumen Ould-Kaddour, Esso Italia CEO Giovanni Murano and several other guests

Source: Algerie Patriotique – The Ambassador of Algeria to Rome, accompanied by his advisers  immediately underlined the strategic dimension of the event and seized the opportunity to congratulate Mr. Ould-Kaddour in particular for this important acquisition which strengthens the energy autonomy of Algeria throughout the entire production chain and which testifies, once again, the dynamism of the Algerian-Italian relations in this sector. “On this occasion, I would like to express my deep gratitude to the leaders of both groups, as well as to all of their staff, who are fully committed to developing the terms of this partnership that led to this important acquisition; acquisition that will undoubtedly strengthen Algeria’s position in an evolving market”, he added. For his part, Ould-Kaddour, accompanied by a vast delegation, stressed that this decision proves that the choice of internationalization of the group is underway and follows a logic of diversification: “Sonatrach has a great project for Augusta, not only for the industry itself, but also for the creation of a logistics platform in the Mediterranean, and I express my satisfaction and gratitude for this strategic agreement, a great message to foreign investors ” he concluded. The Augusta refinery is located in the province of Siracusa, Sicily. This is Sonatrach’s largest acquisition of international reach, which marks, according to Ahmed Mazighi, adviser to the CEO of Sonatrach,  the beginning of a new development strategy abroad. Created in 1949, the refinery goes into production in 1950, with the name of Rasiom (Raffinerie Siciliane Olii Mineriali). Since 1961, the refinery was owned by Esso Italiana, part of the American giant ExxonMobil.

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