ALGERIA

 

Sonatrach Plans $12Bn Spending Hike

Algerian state firm Sonatrach says it is likely to hike its 2012-16 energy investments by $12bn to $80bn. “We envisage spending more than $68bn,” Sonatrach CEO ʹAbd al-Hamid Zerguine told last week’s World Gas Conference in Kuala Lumpur, adding that the level of spending will “probably reach $80bn,” according to state news agency Algerie Presse Service (APS).

 

The lower figure...