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situation report

Mar 20, 2017 | 15:31 GMT

Algeria: CEO Of Sonatrach, State Oil And Natural Gas Firm, Replaced

Algeria's state-owned oil and natural gas firm Sonatrach fired CEO Amine Mazouzi, Reuters reported March 20. Abdelmoumen Ould Kaddour, a graduate of the Massachusetts Institution of Technology, has been named as the new chief executive. The firm's board of directors has frequently reshuffled the CEO position in the last several years. The shift could indicate a bid to overhaul Sonatrach's structural deficiencies, which have contributed to a decline in Algeria's oil and natural gas production over the last decade, though it is difficult to know precisely why the decision was made.

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Algeria: CEO Of Sonatrach, State Oil And Natural Gas Firm, Replaced
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