Former Kuwait’s OPEC Governor, Haitham al-Ghais, has a letter from OPEC appointing him in place of Barkindo, who came into office in August 2016.
The Nigerian said he believes the global oil market is in very capable hands with the appointment.
Prior to serving as scribe, Barkindo served in acting capacity in 2006, having represented Nigeria on OPEC’s Economic Commission Board from 1993 to 2008.
“From my time working collaboratively with you as Kuwait’s OPEC Governor, I know you have a great understanding of the organs and internal workings of the organisation,” he noted in his letter.
The ex-scribe had played key roles in the last two years as OPEC pushed through the downturn of the oil and gas sector, thereby helping to rebalance oil price from a negative state to the current price of about $78 per barrel.
Barkindo had also recently canvassed continued investment in hydrocarbon, warning that dwindling investment in fossil fuel would hurt global economy.
He equally warned that compelling Africa to join the race towards net-zero could be unfair, noting that the continent requires an independent plan in moving towards sustainable energy sources.
