ABUJA, July 6 (Reuters) – Mohammad Barkindo, the outgoing secretary general of OPEC who played a key role in forming the wider OPEC+ group of oil producers that has helped the industry navigate global shocks, has died aged 63.
The Nigerian oil industry veteran was due to step down at the end of this month after six years in the top job at the Organization of the Petroleum Exporting Countries (OPEC).
Barkindo died late on Tuesday, Mele Kyari, the boss of the Nigerian National Petroleum Corp (NNPC), wrote on Twitter, calling the death "a great loss".
Hours earlier Barkindo had met Nigerian President Muhammadu Buhari and given a speech at an Abuja energy summit.
Kyari said Barkindo would be buried in his home town of Yola at 4 p.m. on Wednesday.
OPEC's key decisions are taken by ministers from Saudi Arabia and other top producers, but the secretary general represents the group on the world stage and has an important diplomatic role in helping the ministers reach consensus.
Haitham al-Ghais of Kuwait is scheduled to take over the job on Aug. 1.
The OPEC Secretariat on Twitter expressed its "sorrow and deep gratitude for the over 40 years of selfless service" which Barkindo gave.
Barkindo's career in the oil industry began in Nigeria in the early 1980s. He served in various capacities at the NNPC and represented Nigeria on OPEC's Economic Commission Board, a technical panel.
He was acting OPEC secretary general in 2006 before returning to the position 10 years later, when he helped set up OPEC+ as OPEC members joined forces with Russia and other non-members to cooperate on oil supply.
OPEC+ helped to erase a supply glut that built up between 2014 and 2016 and in 2020 organised a record output cut as the pandemic hammered demand.
Mohammad Barkindo, secretary-general of OPEC, addresses delegates at the opening of the Nigeria Oil & Gas 2022 meeting in Abuja, Nigeria July 5, 2022. REUTERS/Afolabi Sotunde
"He will be remembered as a significant figure in the history of global energy governance," said Joseph McMonigle, secretary general of the International Energy Forum.
"He was an exceptional diplomat who made a remarkable contribution to the stability of global energy markets."
Russian Deputy Prime Minister Alexander Novak in a statement paid tribute to Barkindo as one of the initiators of OPEC+ and an advocate of constructive dialogue with Moscow.
Barkindo "made a significant contribution to the formation of a consolidated position of the participating countries," Novak said, which "for several years have been successfully balancing the global oil market."
During his keynote speech in Abuja hours before his death, Barkindo said the oil and gas industry was "under siege" and reeling from enormous investment losses in recent years. read more
He argued that while it was necessary to reduce emissions, oil was still essential and he recently conveyed to the European Union OPEC's concerns about a ban on Russian oil over its impact on consumers. read more
"Serving as Secretary General of OPEC for two terms has been the honour of a lifetime. Over the past six years, we have witnessed both challenging and historic moments, which have underscored time and again the importance of cooperation and teamwork," Barkindo said in his speech.
Diamantino Azevedo, oil minister for OPEC member Angola, said in a statement that Barkindo always sought consensus for the good of the organisation.
After leaving OPEC, Barkindo was due to join U.S. think tank the Atlantic Council's Global Energy Center as a distinguished fellow, the Council recently announced.
Al-Ghais, soon after he was named as Barkindo's successor, said a priority for him was to keep the OPEC+ pact in place as it is in the oil industry's wider interest. read more
Our Standards: The Thomson Reuters Trust Principles.
U.S. power consumption was on track to rise to record highs in 2022 and 2023 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved

source

Leave a Reply

Your email address will not be published.

You May Also Like

Just InAgain, terrorists attack Military checkpoint at Zuma Rock, Abuja, reportedly kill Soldiers in shootout – Vanguard

Just InAgain, terrorists attack Military checkpoint at Zuma Rock, Abuja, reportedly kill…

Buhari lists Nigeria's benefits from Open Government Partnership – Guardian Nigeria

President Muhammadu Buhari. Photo/FACEBOOK/Femi AdeshinaPresident Muhammadu Buhari has itemised the benefits Nigeria…

18,429 test positive for hepatitis in Nasarawa | The Guardian Nigeria News – Nigeria and World News — Nigeria — The Guardian Nigeria News – Nigeria and World News – Guardian Nigeria

Nasarawa State Ministry of Health has said that 18,429 persons have tested…

Three people killed in Philippine university shooting | The Guardian Nigeria News – Nigeria and World News — World – Guardian Nigeria

Members of police Special Weapons and Tactics (SWAT) stand guard along a…