Sonatrach

Sonatrach is the national oil company of Algeria. In 2010, it had net income of $2.4 billion and employed 120,000 people. It is headquartered in Algiers, Algeria.

Sonatrach was founded in 1963 and nationalized refining and distributing in 1967. By 1971, the company had nationalized most of the petroleum industry within the country. Due to technical limitations though, laws were relaxed over the years to allow for partnerships with IOCs.

Sonatrach sits on reserves of 39 billion barrels of oil and produces approximately 620,000 barrels of oil per day. It is the 11th largest oil consortium in the world and accounts for 30% of Algeria’s GDP. Sonatrach is vertically integrated, though its upstream capabilities are somewhat limited.