Algeria’s Sonatrach scandal is a test case for new president | Francis Ghiles

Algeria’s Sonatrach scandal is a test case for new president | Francis Ghiles

Senior company officials considered their CEO to be incompetent and a crook.. To justify the transaction company officials highlighted the fact that Algeria was importing 3 million tonnes per year of refined products and "claimed that the Augusta plant would make up for the deficit by refining Algerian crude“¦. These crudes had to be bought from third parties as the plant could not process Algerian oil," Petrostrategies reported.. The new operator is not free to operate the plant's facilities according to its own needs or those of the market, as the refinery has to calibrate its installations to fulfil this ten-year commitment.". No matter what, the Algerian people have been robbed blind and, if the country's new leaders do not come clean on this shadowy affair, then their political credibility will be severely damaged as will their capacity to usher in bold economic reforms..