Zerguine Replaces Cherouati On Top of state-owned petroleum company Sonatrach

Minister of Energy and Mines, Youcef Yousfi, on Thursday has appointed Abdelhamid Zerguine, as the new CEO of the government-run energy group Sonatrach, to replace Nouredine Cherouati.

Mr Zerguine, 61, used to be head of Switzerland based Samco, a Sonatrach subsidiary in charge of gas marketing, and occupied before the position of vice-president for pipelines at Sonatrach.

The Sonatrach announcement confirmed information from three government sources who had earlier leaked information that Cherouati was to be replaced by the 61-year-old Zerguine.

The new head of the company is an engineer by training who joined Sonatrach in 1976. The subsidiary he ran in Switzerland in his last job is part-owned by Italian major ENI, the Sonatrach announcement said.

Mr Cherouati was appointed in May 2010 in replacement of Mr Mohamed Meziane, who was removed as part of a judicial investigation over corruption.

Mr Cherouati denied to reporters Wednesday circulated rumors he was to be fired. The local Liberté newspapers quoted him on Thursday issue as saying “the changes I’ve been bringing to the company management seem to disturb some people and interests.”