situation report

Apr 23, 2019 | 20:06 GMT

1 min read

Algeria: Interim President Dismisses Sonatrach CEO

What Happened: Algerian interim President Abdelkader Bensalah has fired Abdelmoumen Ould Kaddour, the CEO of Algeria's state-owned oil and natural gas firm Sonatrach, and replaced him with Rachid Hachichi, the company's head of production and exploration, RFI reported April 23.

Why It Matters: The removal of Ould Kaddour, who is already subject to a travel ban, is part of a series of reshuffles by Algeria's interim government as it attempts to gain public support by purging some members of the business elite that have close ties to former President Abdel Aziz Bouteflika.

Background: Algeria's government is undergoing a moment of transition following Bouteflika's resignation earlier this month. Algerian protesters have continued to demand anti-corruption measures and structural government reform. As Algeria's state-backed energy company, Sonatrach is critically important for the country's energy-dependent economy.

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