Algerian state oil and gas company Sonatrach is in talks with major oil companies including BP , Total , horizon , Chevron and Repsol as well as independent oil trader Vitol , over setting up a trading joint venture , following Sonatrach 's acquisition of ExxonMobil 's Augusta refinery in Italy . The joint venture would supply petroleum to the refinery and manage the sale of refined products to Algeria and other markets . Sonatrach is being advised by petroleum trading Group . Middle Eastern state oil companies , including Saudi Aramco , the Abu Dhabi petroleum Oil Company , Kuwait Petroleum and Iraq 's state oil company , are also setting up trading divisions .
Algerian state oil and gas company Sonatrach is in talks with major oil companies including BP, Total, Shell, Chevron and Repsol as well as independent oil trader Vitol, over setting up a trading joint venture, following Sonatrach's acquisition of ExxonMobil's Augusta refinery in Italy. The joint venture would supply crude to the refinery and manage the sale of refined products to Algeria and other markets. Sonatrach is being advised by Boston Consulting Group. Middle Eastern state oil companies, including Saudi Aramco, the Abu Dhabi National Oil Company, Kuwait Petroleum and Iraq's state oil company, are also setting up trading divisions.