Algeria’s oil giant Sonatrach replaces CEO
The CEO of Sonatrach, Algeria’s state-owned oil giant, has been dismissed by President Tebboune after 2 years in position, reported TSA Algérie via AFP on October 26th. Rachid Hachichi was abruptly replaced by Nourredine Daoudi, with an official TV broadcast announcing the latter’s nomination.
No explanation was given for the dismissal, although Hachichi had recently faced criticism for his handling of the country’s resources. Several articles attacking his management had been published in the national press, described by Le Matin d’Algérie as a media assault, preparing the public for his departure.
New CEO Nourredine Daoudi is an experienced figure in the energy sector, after serving as CEO of Alnaft, the national agency for the valorization of hydrocarbon resources, responsible for attracting investors. He is credited with the agency’s digital transformation, and it is expected that technology will be one of his key missions at Sonatrach.
He will be the fifth CEO of the oil company in six years, reflecting ongoing adjustments within the government’s approach to the sector.
Sonatrach is a pillar of the Algerian economy and falls directly under the responsibility of the Ministry of Energy. It was founded in 1963, soon after Algeria won its independence from France, and it oversees hydrocarbons exports, the biggest source of revenue for the North African state.
In July, it was reported that the group had signed a $1.35 billion contract with Italian group ENI to explore and exploit new sites around Zemoul el Kbar in Eastern Algeria. This followed a previous deal in June 2025 with QatarEnergy to explore the neighbouring Ahara region. The oil giant also recently signed deals with Saudi Arabia and China, as it scales up its activities.
TSA Algérie via AFP, Le Matin d’Algérie, Maghrebi
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