Algerian state energy company Sonatrach's CEO sacked: state TV

ALGIERS (Reuters) - Algeria's interim president has sacked Abdelmoumene Ould Kaddour as CEO of state energy company Sonatrach, state TV reported on Tuesday. Interim President Abdelkader Bensalah has appointed Sonatrach's head of production and exploration, Rachid Hachichi, to replace Kaddour, state TV added.

Reuters April 24, 2019 02:05:39 IST
Algerian state energy company Sonatrach's CEO sacked: state TV

Algerian state energy company Sonatrachs CEO sacked state TV

ALGIERS (Reuters) - Algeria's interim president has sacked Abdelmoumene Ould Kaddour as CEO of state energy company Sonatrach, state TV reported on Tuesday.

Interim President Abdelkader Bensalah has appointed Sonatrach's head of production and exploration, Rachid Hachichi, to replace Kaddour, state TV added.

Kaddour had been close to President Abdelaziz Bouteflika, who had put the U.S.-trained engineer in charge of overhauling Sonatrach in March 2017 after years of management upheaval, fraud scandals and red tape had deterred foreign investors.

The North African oil giant is an important source of energy for European states trying to reduce dependence on Russia and it also funds a large part of the Algeria's budget.

Kaddour managed to resolve a number of disputes with fellow oil majors, expanding ties with several companies.

In December 2017 Sonatrach and France's Total said they wanted to work on new projects after resolving earlier disputes.

(Reporting by Lamine Chikhi and Hamid Ould Ahmed; Editing by Ulf Laessing and David Goodman)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

U.S. to double public climate finance to developing countries by 2024
World

U.S. to double public climate finance to developing countries by 2024

By Andrea Shalal WASHINGTON (Reuters) -The United States said on Thursday it would boost public climate finance to help poor countries reduce greenhouse gas emissions and adapt to a changing climate, doubling funding by 2024 from high average levels hit during the Obama administration. The White House said it was embracing "ambitious but attainable goals" for international aid to developing countries, given the urgency of the climate crisis and to compensate for a sharp drop in U.S. funding during the Trump administration.

More risks to pregnant women, their newborns from COVID-19 than known before - study
World

More risks to pregnant women, their newborns from COVID-19 than known before - study

(Removes extraneous word 'while' in paragraph 3) (Reuters) -Pregnant women infected with COVID-19 and their newborn children face higher risks of complications than was previously known, a study by British scientists showed on Friday. An infection of the new coronavirus in such newborns is associated with a three-fold risk of severe medical complications, according to a study conducted by scientists at the University of Oxford. (https://bit.ly/3tNwkJ7) Pregnant women are at higher risk of complications such as premature birth, high blood pressure with organ failure risk, need for intensive care and possible death

Spain's left-wing leader, interior minister get death threat letters
World

Spain's left-wing leader, interior minister get death threat letters

MADRID (Reuters) -Anonymous death threat letters with bullets enclosed in the envelopes have been sent to two of Spain's top security officials and the leader of the hard-left Unidas Podemos party, officials said on Friday, adding police are investigating.