(MENAFN) Algeria's Sonatrach was announced to have set out a plan to purchase ExxonMobil's Augusta refinery which is located in Italy's Sicily and has a capacity of 175,000 barrel per day.
The news has been declared by the head of Algeria's state oil firm while speaking to French news outlet Les Echos.
Head of the firm Abdelmoumen Ould Kaddour also revealed Sonatrach to be purchasing three oil storage terminals in Italy.
Kaddour highlighted that the purchase agreement are to guarantee an opening for Algerian crude along with developing fuel supplies for the firm.
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