Algerian state energy firm Sonatrach will focus on increasing production and export volumes to help develop the OPEC member country’s oil and gas-reliant economy, its newly-appointed head Rachid Hachichi said in first comments on Wednesday. Algeria, a major gas supplier to Europe, has been struggling to boost output amid growing domestic consumption and a lack of foreign investment due to unattractive contract terms. Hachichi, a former chief of production and exploration at Sonatrach, was named on Tuesday as chief executive of the company, replacing Abdelmoumene Ould Kaddour. Algeria currently produces an estimated 1 million barrels of crude oil per day and 135 cubic meters of gas annually. Oil and gas account for 94 percent of total exports and 60 percent of the state […]