Sonatrach backs its Italian refinery with rare external financing (APICORP)

Sonatrach backs its Italian refinery with rare external financing (APICORP)

The pan-Arab oil fund APICORP, led by Libyan Ahmed Ali Attiga, is lending $250 million to finance maintenance and oil purchases for the Augusta refinery acquired by Sonatrach in 2018.

Someone shares this article with you
            ▪ Sonatrach backs its Italian refinery with rare external financing (APICORP)

▪ The pan-Arab oil fund APICORP, led by Libyan Ahmed Ali Attiga, is lending $250 million to finance maintenance and oil purchases for the Augusta refinery acquired by Sonatrach in 2018.

https://www.jeuneafriquebusinessplus.com/en/801976/sonatrach-soutient-sa-raffinerie-italienne-avec-un-rare-financement-exterieur-apicorp/

06/01/2020 at 16h04, by Jeune Afrique Business+, updated 07/01/2020

In a ground-breaking move, the Arab Petroleum Investments Corporation (APICORP) energy fund, based in Khobar, Saudi Arabia, is supporting Sonatrach‘s international development at the Augusta refinery in Sicily which the Algerian giant bought from ExxonMobil in 2018. The acquisition was carried out for less than $1bn as indicated in May 2018 by Abdelmoumen Ould Kaddour, CEO of the group at the time.

To read the article and discover your subscription benefits

You are connected to your Jeune Afrique account but your Jeune Afrique Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.

Recommended articles

Advisory

15/01/2021 at 17h25, by Jeune Afrique Business+

Leila Hubeaut and Ergen Ege to strengthen August Debouzy’s African DNA

The two lawyers, who worked together at Herbert Smith Freehills and then Dentons, have joined the prestigious...

Oil & Gas

14/01/2020 at 16h14, by Jeune Afrique Business+, updated 15/01/2020

Spain’s Técnicas Reunidas ousts Chinese, Italians and Koreans for a new Sonatrach refinery

After a gas project completed in early 2019, the Madrid-based company in partnership with Samsung Engineering...

Oil & Gas

11/12/2019 at 14h20, by Pierre-Olivier Rouaud

Sonatrach’s pre-emption right on Anadarko’s assets: Total adopts a low profile

Mohamed Arkab, the Minister of Energy, wants Algeria to step in ahead of Total and buy up the assets...

Energy

21/10/2019 at 22h46, by Jeune Afrique Business+, updated 28/10/2019

Algeria: why Sonatrach is investing €100m in Medgaz

Now that UAE fund Mubadala has sold its stake in Medgaz, Algeria’s state-owned Sonatrach has become the...

Any questions ? contact us

Please get in touch with the Jeune Afrique Business+ team if you require any further information.

Email us : abonnements@jeuneafriquebusinessplus.com

Add JAB+ to your home screen

1. Click on + at the bottom of your screen.

2. Click on + to add JAB+ on the home screen.

3. Enter the name of the shortcut and confirm.