April 17, 2024
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Chad Dismisses Petroleum Minister, Appoints New Chairman for State Oil Company

In a surprising move, the Chadian government announced the dismissal of Petroleum and Energy Minister Djerassem le Bemadjiel, according to a decree issued on Thursday. The government did not provide any specific reason for the abrupt decision, nor did it name a replacement for the position.

According to Reuters, the government revealed the appointment of Daoud Hamid Dabou as the new Chairman of the Board of Directors of the Société des Hydrocarbures du Tchad, Chad’s state-owned oil company. Dabou takes over from Dago Yacouba, although the reasons for this change were not detailed in the announcement.

This development follows Chad’s recent nationalization of all assets, including hydrocarbon permits, and exploration and production authorizations previously owned by a subsidiary of Exxon Mobil (XOM.N). The nationalization occurred after the Chadian government contested a deal involving the sale of these assets to Savannah Energy (SAVES.L).

The sudden reshuffling within the country’s petroleum sector has left both domestic and international observers speculating about the motivations behind these decisions. The lack of official explanations from the Chadian government has added to the intrigue surrounding these changes, prompting heightened interest in the country’s energy policies and future developments in the hydrocarbon industry.

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