Sonatrach’s crude-for-oil-product deal with oil trader Vitol will not be extended.

There was talk of an extension however, according to a Reuters report citing two sources, the deal will come to a halt at the end of April.

The Algerian state-run firm’s decision to not extend the deal follows the return from maintenance of Sonatrach’s 175,000 bpd Italian oil refinery. The company acquired the refinery in Q4 2018 from ExxonMobil. 

Selected by SPTEC Advisory from Petroleum Africa