Sonatrach recorded net profit of 812 billion dinars (roughly $6 billion) in 2024, representing a 20% year-on-year increase, the state energy company said in its 2024 annual report, which also highlighted stable primary hydrocarbon output.
Based on the document published on the group’s website, in 2024 “primary hydrocarbon production remained stable versus the 2023 fiscal year, totaling 193.7 million tons of oil equivalent (MTOE),” against 193.8 Mtoe in 2023 and 189.6 Mtoe in 2022.
The 2024 fiscal year faced “less favorable conditions than the previous year,” mainly because of lower oil and gas prices compared to 2023, Sonatrach said, while highlighting “numerous achievements, particularly record onshore fuel production: 10.8 million tons of diesel produced and 3.7 million tons of gasoline.” Sonatrach’s investments reached 835 billion dinars in 2024 ($6 billion), up 11%, with most of it (79%) directed toward developing exploration and production activities.
As for petrochemical operations, the petrochemical complexes posted “strong performance” in 2024, the report added, pointing out that the CP2K complex in Skikda saw HDPE production jump 101% in 2024, while crude oil processing rose 2% to 26.5 million tons.
Despite the overall decline in global oil and gas markets, Sonatrach, according to the same source, showed remarkable resilience and adaptability, steadily pursuing the investments outlined in its development plan.
