Energy Capital & Power

New Sonatrach CEO Appointed

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Toufik Hakkar has been appointed as the new chief executive of Sonatrach, the country’s state energy company, taking over from Kamel Eddine Chikhi.

Last December, Algeria passed a new law to attract foreign direct investment to encourage hydrocarbon exploration, in the midst of a 15% decrease in oil and earnings over the first 11 months of 2019. Increasing domestic demand and lower output reduced export volumes.

Algeria relies on hydrocarbons, which represent 40% of government revenues and 95.6% of its exports. The country is committed to increasing its hydrocarbon reserves and boost its oil and gas exports.

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Energy Capital & Power

Energy Capital & Power

Energy Capital & Power is the African continent’s leading investment platform for the energy sector. Through a series of events, online content and investment reports, we unite the entire energy value chain – from oil and gas exploration to renewable power – and facilitate global and intra-African investment and collaboration.