Algeria names new CEO at energy firm Sonatrach

An industry veteran was named as head of Algeria's state energy firm on Monday, an appointment aimed at restoring stability to the company, which supplies one fifth of Europe's gas, after a damaging corruption probe. Nourredine Cherouati, who until now was head of an energy sector regulator, takes over as chief executive of Sonatrach four months after the previous holder of the post was removed as part of a judicial investigation into corruption allegations. In a statement on its Internet site, Sonatrach said Algerian Energy and Mines Minister Chakib Khelil had introduced Cherouati to staff as the new chief executive in a closed-door ceremony at the company's headquarters on Monday afternoon. Cherouati has since 2005 been head of the Hydrocarbon Regulatory Authority, one of two main state regulators in the energy sector. His other roles have included that of No 2 at the Energy Ministry, and general manager of Naftal, the state-owned fuel retailer.