Algerian Sonatrach-Sinopec Deal Strengthens China's Position in North Africa's Energy Transition
Beijing inks another strategic contract in North Africa, further securing its role in its energy transition process.
Algeria's leading oil company, Sonatrach, has signed a hydrocarbons development contract with China’s Sinopec International Energy Investment (HK) Holding Ltd., involving an expected investment of $850 million. This deal marks a significant step in Algeria's ambition to open up its economy. At the same time, Beijing gains another strateg…
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