Middle East Economic Survey

VOL. XLVIII

No 24

13-June-2005

algeria

Naftal Profits Reach $23Bn In 2004

Sonatrachs subsidiary Naftal realized net profits of AD1.7bn ($23.2mn) in 2004, up 4% from 2003. It sold more than 10mn tons of petroleum products (9.5mn tons of which were fuels and LPG) on the local market, up from 9.6mn tons in 2003. The companys investments increased from AD5.3bn ($72.2mn) in 2003 to AD9.1bn ($124mn) in 2004, of which AD7.5bn ($102.2mn) were financed by its own resources....