15.01.2007
Libyaninvestment.com

The libayn oil expert and former chairman of the national oil corporation (NOC), Mr. Abdullah Salem Al-Badri, assumed Wednesday powers of secretary general of the organization of petroleum exporting countries (OPEC) from acting OPEC chief Mohamed Barkindo.

The OPEC Abuja meeting mid December put an end to a three year controversy over the nominee for senior position of the Vienna based cartel. In a speech he made at an honoring ceremony at NOC headquarters in Tripoli last week, Al-Badri said that he would carry out his duties as chairman of OPEC diligently and as efficiently as he can and that he would implement the policies of the organization.

The tenure of former secretary general Alfaro Silva elapsed in 2003, since then OPEC failed to agree on his successor till Abuja meeting last month. During the last three years Barkindo served as acting chief.

None of the former candidates for the post from two member countries was able to get unanimous backing from the cartel members.

OPEC finally reached a compromise on a nominee from a third country, namely Abdullah Salem Al-Badri who enjoyed the support from all members as legally required.

Al-Badri assumes the office of chief of OPEC at a time when the international oil market is facing huge challenges due to volatile prices and other geopolitical, climate, and psychological factors.

To serve the interests of oil producers and consumers alike, restore stability to the world oil market and maintain fair prices, the OPEC ministers of oil saw time was ripe to agree on a new chief who can lead the cartel instead of an acting secretary general.

Al-Badri was Libyan minister of oil and energy from 1988 to 2001 and acting OPEC secretary general from July to December 1994.

Algerian minister energy and mining Chekib Khalil said Badri enjoys the efficiency and international experience that qualify him for the three year term in office.

[ Tripoli post]