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Commodities

Sonatrach, Shell Trading to look at trading cooperation

FILE PHOTO: The logo of the state energy company Sonatrach is pictured at the headquarters in Algiers, Algeria November 25, 2019. REUTERS/Ramzi Boudina/File Photo

ALGIERS (Reuters) - Algerian state energy company Sonatrach said on Thursday it had signed an initial agreement with Royal Dutch Shell’s trading arm to discuss cooperation on crude, natural gas and oil product trading, Algeria’s state news agency reported.

Algeria is seeking to increase business with international oil majors as it attempts to reverse years of declining energy output that is crucial to government income.

The report on APS, Algeria’s state news agency, gave no other details on the agreement.

Reporting by Hamid Ould Ahmed, writing by Angus McDowall;Editing by Elaine Hardcastle

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