Algeria’s Sonatrach CEO in corruption probe-sources
source: http://bit.ly/7FqlrV
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The CEO of Algerian state energy firm Sonatrach, Mohamed Meziane, is under investigation over corruption allegations and his duties have been taken over by one of his deputies, industry sources said on Thursday.
Neither Meziane nor other Sonatrach officials could be reached for comment, and an official at the Justice Ministry said it had no immediate comment available.
Sonatrach Vice-President for downstream activities, Abdelhafid Feghouli, has been named as interim CEO, two industry sources with ties to the company told Reuters.
Analysts said they did not expect the affair would seriously disrupt the company’s operations. Sonatrach is the main energy producer in Algeria, a North African country that supplies 20 percent of Europe’s gas needs.
Neither Meziane nor other Sonatrach officials could be reached for comment, and an official at the Justice Ministry said it had no immediate comment available.
Sonatrach Vice-President for downstream activities, Abdelhafid Feghouli, has been named as interim CEO, two industry sources with ties to the company told Reuters.
Analysts said they did not expect the affair would seriously disrupt the company’s operations. Sonatrach is the main energy producer in Algeria, a North African country that supplies 20 percent of Europe’s gas needs.
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- groups:
- Algerian Alpacas
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- tags:
- Corruption, Oil, Europe, Gas, 3 more
