OPEC names Kuwaiti official as its new chief

KUWAIT – OAPEC – MEETING
Haitham al-Ghais, who was Kuwait’s OPEC governor from 2017 to June 2021, serves as a deputy managing director of the Kuwait Petroleum Corporation (KPC) Yasser Al-Zayyat AFP/File
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FILE PHOTO: Haitham al-Ghais, who was Kuwait’s OPEC governor from 2017 to June 2021, serves as a deputy managing director of the Kuwait Petroleum Corporation (KPC)  Yasser Al-Zayyat AFP/

London (AFP) – Top oil producing countries on Monday picked Kuwaiti oil executive Haitham al-Ghais as the next secretary general of the Organization of the Petroleum Exporting Countries (OPEC). ADVERTISING

Al-Ghais, who was Kuwait’s OPEC governor from 2017 to June 2021, serves as a deputy managing director of the Kuwait Petroleum Corporation (KPC).

“The conference decided by acclamation to appoint Mr Haitham al-Ghais of Kuwait as secretary general of the Organization, with effect from 1 August 2022, for a period of three years,” the OPEC statement said.

He will replace Nigeria’s Mohammed Barkindo, who took over the helm of the organisation in 2016 and led it for two terms.

It was during Barkindo’s tenure that the grouping drastically slashed oil output in 2020 as the coronavirus pandemic hit global markets.

Since last year, they have been gradually opening the tabs again and prices have bounced back.

The Vienna-based organisation comprises 13 members led by Saudi Arabia, which together with their 10 allies, including Russia, fixes output to control prices.

FRANCE24/AFP

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