The CEO of Algeria’s state oil company Sonatrach has been dismissed, state TV reported Sunday, the latest managerial upheaval at the strategic firm in recent years.
Rachid Hachichi, in the job since October 2023, has been replaced by Noureddine Daoudi, who has held several important positions in the country’s hydrocarbons sector.
State TV aired footage of Algerian Energy Minister Mohamed Arkab appointing Daoudi at an official ceremony, without giving a reason for the change.
Hachichi had faced public scrutiny in recent weeks and on Thursday Algerian daily newspapers Le Soir and El Khabar published articles criticising the management of the oil and gas group.
Daoudi had previously served as CEO of Algeria’s hydrocarbons agency Alnaft from April 2020 to August 2023.
Alnaft is responsible for attracting investors in the oil and gas sectors and for managing tenders and the awarding of exploration and production licences.
Sonatrach, which is owned entirely by the government, has had five CEOs since 2019, a sign of chronic instability.
The European Union has been a principal market for Algerian gas, particularly since Russia’s invasion of Ukraine in February 2022 severely disrupted supplies to Europe, which sought to diversify its sources.
Hydrocarbons finance 60 percent of Algeria’s budget and account for more than 80 percent of export revenues.
Sonatrach earned $45.23 billion in revenue from hydrocarbon sales in 2023, compared with $50.49 billion the previous year.
No figures were made public for 2024.
At the end of September 2025, revenue from hydrocarbon sales for the year to date stood at $31 billion, according to the energy ministry.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.