Algeria: New chief at Sonatrach

Algeria’s state energy company, Sonatrach, had replaced its chief, Abdelhamid Zerguine, with vice-president for production Said Sahnoun, a source said on Saturday. The firm is under pressure to lift stagnating energy output and has suffered corruption allegations in recent years. Zerguine was appointed chief in November 2011. Later this year, Algeria will hold a new energy bidding round seen as essential to attracting foreign oil producers. – Reuters