Algeria's Biggest Companies
Oil and natural gas form the backbone of the Algerian economy, with hydrocarbons accounting for approximately 95 percent of the country's earnings from exports and for about 30 percent of the GDP. It is little wonder the petrochemicals company Sonatrach is the largest and richest company in Algeria, generating profits against which the incomes of Algeria's other large companies seem almost small. Algeria has the eighth largest natural gas reserves in the world, and its reserves of oil are the fifteenth largest in the world. Algeria has the fourth largest exports of natural gas in the world. Oil and gas have been very important for the Algerian economy, helping the country to reduce its debts and to build up substantial reserves. However, the economy has not managed to attain diversity, despite the government's efforts to reduce Algeria's dependence on this industry.
Sonatrach is the largest company in Africa and the 12th largest petroleum company in the world. It is a state owned company that was founded in 1963. It employees approximately 120,000 people and it has a net annual income of 77 billion US dollars. Sonatrach exports petroleum products to the US and to a number of European countries including the UK, Spain, Italy, Greece and Turkey. The company has a number of subsidiaries, including Naftal which sells petroleum products and Tassili Airlines. Sonatrach's other subsidiaries are Numhyd, GALSI, ALEPCO, ENTP National Well Engineering and GCB National Civil Engineering.
Cevital is a large private Algerian company that is involved in a diverse range of different sectors, predominantly the construction, glass manufacturing, transport and food industries. Although it has only been around since 1998, it has already become one of the biggest companies in Algeria, in terms of its profits. Cevital has a net income of over 3.5 billion US dollars. Cevital employs about 12,000 people. Its subsidiaries are Numidis, Nolis, Cevico, CeviAgro, Acts, Hyundai Motors Algerie, Samsung Samha Algerie and Mediterranean Float Glass.
Sonelgaz is another large state owned company that is involved in the energy and gas industry in Algeria. It was founded in 1969 and it now has a net income of 1.88 billion US dollars. Sonelgaz employs 28,000 people and it provides many Algerians with their energy supplies. It is a utility firm that has provides both gas and electricity. When it was created, it had a monopoly over gas and electricity distribution, but this was revoked in 2002.
Djezzy GSM is a telecommunications company that was founded in 2001. It is also known as OTA or Orascom Telecom Holdings and it is the largest telecommunications company in Algeria. It has a net income of more than 0.8 billion US dollars and it employs about 3000 people.
Air Algerie is another important Algerian company. It is a state owned airline that flies to 70 different destinations from the main its main hub at Houari Boumediene and from its secondary hub at the Oran Es Senia airport. Founded in 1947, Air Algerie now has a fleet of 37 planes and it has currently placed orders for another 5 planes. It makes a net income of about 0.7 billion US dollars.