Algeria's Sonatrach, China's Sinopec sign $850 million contract for hydrocarbon development, exploration
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Algeria's Sonatrach and China's Sinopec have signed an $850 million contract for hydrocarbon development and exploration in Algeria.
February 25, 2025 | 9:15 pm
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Sinopec has entered into an $850 million contract with Algeria's Sonatrach for hydrocarbon development and exploration, potentially boosting its operations in North Africa.
The contract signifies a significant investment by Sinopec in Algeria, which could enhance its hydrocarbon production capabilities and market presence in North Africa. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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