Top 500 oil companies: Sonatrach dominates Africa

Top 500 oil companies: Sonatrach dominates Africa

It’s time for sustainable development and so-called “fossil” energies are running out according to scientists. And yet, the hydrocarbons sector has never done so well! The politico-economic influence of the pandemic and the war in Ukraine has caused the oil and gas industry to boom all over the world, and Algeria is no exception.

The national society Sonatrach win the first place in the ranking of the best African companies oil companies, according to the Jeune Afrique media.

Sonatrach voted best oil company in Africa in 2023

The online newspaper Jeune Afrique returned on Wednesday with its annual ranking of the best companies operating in the energy sector. This time it’s the Algerian group Sonatrach which takes first place on the podium, closely followed by the South African company Eskom and the NIGERIAN NATIONAL PETROLEUM CORP.

READ ALSO: Sonatrach – Total: the Oran plastics factory will finally see the light of day in 2023

The ranking brought together 500 companies and covered many economic indices, including overall turnover. Toufik’s society Hakkar largely distinguished itself from its adversaries with a Turnover of 34,336.3 million dollars ($15,456.8 and $15,400m for Eskom et NIGERIAN NATIONAL PETROLEUM CORP respectively).

Naphthal has, for its part, won 6th place in the standings of the most important companies in the North African region by the same media.

Sonatrach expands its markets, huge volumes of gas marketed shortly

The CEO of Sonatrach recently expressed Algeria’s ambition to expand the group’s markets. The company plans to market 100 billion m3 of natural gas per year over the next 5 years. T. Hakkar targets the national market, but also the international one, with Europe in the sights of the CEO.

READ ALSO: Oil-Gas, Electricity: Hakkar sets Sonatrach’s 2023 objectives

In a public address, Hakkar invited foreign actors to collaborate with Sonatrachhighlighting the benefits of partnership with the Algerian company : “Algeria offers a favorable environment for foreign investors in the upstream gas sector, with a clear regulatory framework, significant reserves, developed infrastructure, strategic partnerships and attractive tax benefits,” he said.

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