Middle East

OPEC Appoints Kuwait’s Oil Executive as New Secretary-General

London: The top oil producers yesterday elected Kuwait Oil Company executive Highsam Argais as the next secretary-general of the Organization of Petroleum Exporting Countries (OPEC). Geis, who served as OPEC Governor of Kuwait from 2017 to June 2021, is Deputy Managing Director of Kuwait Petroleum Corporation (KPC). His decades of experience in the industry include the experience of state-owned oil companies in Beijing and London.

OPEC said in a statement that Geis was appointed by cheers and will reach a three-year term on August 1. Crown Prince Sheikh Michal al-Ahmad al-Javert al-Saber, “said Dr. Mohammad Alfales, Minister of Petroleum, Kuwait, in a statement. Fares, also a state minister for electricity and water, said Hais received “full support” in August to fill the position of secretary general. The minister attributed this milestone to the hard-working work of state agencies across Kuwait, adding that OPEC firmly believes in Kuwait’s “abilities and abilities.”

“He knows OPEC both inside and outside,” said Johannes Benigni, chairman of the JBC Energy Group, a consultant in Vienna. “At the same time, he knows both inside and outside the market. He is a very smart and talented analyst.” Geis took over the steering of the organization in 2016 and led the organization for two terms, Mohammed, Nigeria. Became the successor to Balkind. It was during Balkind’s tenure that the Group significantly reduced oil production in 2020 as the coronavirus pandemic hit the global market.

Last year, 10 allies, including OPEC and Russia, gradually began to reopen tabs and prices bounced. The Vienna-based organization, which consists of 13 members led by Saudi Arabia, is a group called OPEC +, which is modifying its output to manage prices with 10 other countries. So far, OPEC + has been more aggressive in increasing production, resisting pressure from top oil consuming countries such as the United States.

A monthly OPEC + meeting with all 23 members via the video conference Toai is expected to continue the course and moderately increase output. OPEC General Secretary has no executive power, but is a public figure of an organization representing countries with different interests, such as Saudi Arabia and Iran. In that statement, in the face of a pandemic, the group is committed to expanding OPEC’s historic efforts to support sustainable oil market stability through enhanced dialogue and collaboration with many energy stakeholders. I did, “he praised Balkind.

The diplomatic balance law is the mission that Geis brings many strengths. After serving as a diplomat, he held numerous positions at the state-owned Kuwait Petroleum Corporation and most recently as Deputy Managing Director of International Marketing. Geis also served as the country’s liaison to OPEC from 2017 to last year. Appointing Kuwait as OPEC’s chief has shown a change in the group and has typically given posts to candidates from small producers to offset the concentration of the Gulf tycoons. -agency

https://news.kuwaittimes.net/website/opec-names-kuwaiti-oil-executive-as-new-secretary-general/ OPEC Appoints Kuwait’s Oil Executive as New Secretary-General

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