NARCO CLOSEHOLD: Sonatrach Shuffle

Tuesday, October 3, 2023

By Geoff D. Porter

It was a good run. In fact, the longest run in more than a decade. But all good things must come to an end. Especially when networks become too entrenched and there’s an election on the horizon.

Sonatrach CEO Toufik Hakkar was released from his functions on 2 October, bringing to a close his almost four-year tenure. His replacement, Rached Hachichi, has already briefly been Sonatrach CEO and his new stint is likely to be brief as well. The result is that the instability that characterized Sonatrach for the last dozen years has returned. And with it, uncertainty for foreign investment and growth in Algeria’s energy sector.

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