Sonatrach boosts earnings

Algerian state energy giant Sonatrach boosts earnings in the first three months of 2011

The company saw export earnings stand at $18bn for the first quarter, state news agency APS quoted the country’s Energy Minister as saying.

If correct this would be a sizeable hike from the $14bn in earnings from the company in the same period of 2010.

Earlier this month Sonatrach teamed up with Italy’s Eni to pursue the development of shale gas and unconventional oil resources.

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