Algeria’s state-owned oil and gas group Sonatrach has announced a leadership change with the dismissal of Chief Executive Officer Rachid Hachichi. In office since October 2023, he has been replaced by Noureddine Daoudi, a former sector executive with extensive experience in the country’s hydrocarbon industry. No official reason was given for the decision.
A reshuffled leadership amid management instability
Noureddine Daoudi was formally appointed during a ceremony led by the Minister of Hydrocarbons and Mines, Mohamed Arkab. A former president of the National Agency for the Valorisation of Hydrocarbon Resources (Alnaft), Daoudi held this strategic role from April 2020 to August 2023. The agency oversees investment promotion and the allocation of exploration and production licences in Algeria’s oil and gas sector.
Frequent turnover at the top of the group
Rachid Hachichi’s departure follows a period of criticism in local media over Sonatrach’s internal management. Since 2019, the company has seen five different CEOs, reflecting ongoing executive instability. The fully state-owned enterprise is central to Algeria’s economy, with hydrocarbons funding 60% of the national budget and accounting for over 80% of export revenues.
Hydrocarbons continue to dominate financial results
In 2023, Sonatrach generated more than $77bn in revenue, including $45.23bn from hydrocarbon sales, down from $50.49bn the previous year. No full-year data has been released for 2024 yet, but by the end of September, oil and gas revenues had already reached $31bn, according to the supervising ministry. These figures play a key role in maintaining Algeria’s fiscal balance.
A strategic energy supplier for the European Union
Algeria remains a key gas supplier to Europe, especially to Italy, which has deepened its energy ties with Algiers since 2022. Following Rome’s strategic reorientation after the invasion of Ukraine, Sonatrach became Italy’s main gas partner. This shift has strengthened the company’s role in energy flows between Europe and Africa.
