ALGERIA

Sonatrach Looks To Move On With Spending Boost

Algerian state-owned Sonatrach is looking to move on from the corruption investigation that has rocked the firm over the past two years with a massive rise in upstream spending in 2012 – fueled by bumper profits from near-record oil prices. Sonatrach CEO ʹAbd al-Hamid Zerguine, presenting the company’s provisional 2011 results and plans for 2012-16, said the company’s total investment in the Algerian oil and gas...