In the face of global energy instability and push for cleaner energy, the Organisation of Petroleum Exporting Countries (OPEC) has appointed a Kuwaiti as it Secretary General to replace Nigeria`s Sanusi Barkindo who passed on at the end of his tenure last July.
Mr. Al Ghais who was appointed last January but just resumed office on Monday August 1st is a former oil official in Kuwait will hold the position for 3 years.
Mr. Ghais succeeds Nigerian Barkindo who held office for a two tenure of six years, and suddenly died last July while on a visit to his home country, Nigeria.
Notable Quotes
In his acceptance speech, Ghais said, “It is a great honour for me to be at the helm of an Organization that has been instrumental in supporting a stable and sustainable supply of oil to the world for more than 61 years.”
“Throughout its history, OPEC has been at the forefront of promoting dialogue, cooperation and partnerships to achieve its mission.
“Today, I look forward to working with all our Member Countries and our many partners around the world to ensure a sustainable and inclusive energy future which leaves no one behind.”
In earlier statement from OPEC, the organisation made the following reference about the new scribe, Mr. Al Ghais – “Mr Al Ghais, a respected oil technocrat and well-known OPEC figure, brings a great wealth of experience from both his diplomatic background, as well as his extensive experience in the energy and oil sectors in both OPEC founder member Kuwait and internationally.”
“The Secretary General’s career in the global oil industry spans 30 years. He advised six Kuwaiti Oil Ministers on the global oil market and its developments over the past years.”
Takeaway
Mr. Ghais is coming to office at a time the global energy supply is heavily challenged. Cost of energy has gone sky-high especially as the West battles to find alternative to Russian gas supply to Europe.
Russia over the years has been a major gas supplier to Europe. However, that position is already threatened owing to disagreement arising from Russian invasion of Ukraine earlier this year.
It remains to be seen how the new OPEC helms man will bring his wealth of experience to meet the new global energy demand and ensure a balance of profit and stability for oil producing nations.
Mr. Ghais in his new position would also have to think of how oil and gas will remain relevant to the future in the face of research for cleaner energy.
