Algerian Sonatrach CEO Replaced

摘要

Algerian state Sonatrach has appointed Abdelmoumen Ould Kadour as CEO to replace Amine Maazouzi, the energy ministry announced Monday. The state firm has had five CEOs in five years, highlighting the lack of stability in the oil and gas sector in Algeria. Oil company executives in the country have frequently complained that each time a new head is appointed it takes them six months to appoint a new team - thus delaying the development of a new investment approach.