• Thursday, February 29, 2024
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BusinessDay

Nigeria’s Barkindo gets a second term at OPEC

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Mohammed Barkindo, Secretary General of the Organisation of Petroleum Exporting Countries (OPEC) has been reappointed to serve a second term of three years

Analysts say the reappointment will promote stability for African and global oil markets. He is credited to keep OPEC united as an organization under very unstable times and a deep crisis in commodity prices.

“The extension of Mohammed Barkindo’s mandate as Secretary General for another term is excellent news. It is well-deserved and a result of the trust he has gained from the entire global energy community,” says NJ Ayuk, executive chairman of the Chamber and CEO of the Centurion Law Group.

 Ayuk further said, “Secretary Barkindo has maintained faith in the future of the oil & gas industry, he picks the right battles and fights them with courage. As the race towards stability continues, his sense of team work will continue building the bridges our industry needs to achieve greater prosperity.”

Under his watch, the oil producer’s cartel has successfully sealed landmark agreements like that of the Declaration of Cooperation between OPEC and non-OPEC member countries.

During his first term, OPEC gained its two newest African members, Equatorial Guinea in 2017 and the Republic of Congo in 2018. Last year, he was awarded the Africa Oil Man of the Year award by Africa Oil & Power for prioritizing of cooperation in turbulent times, for stabilizing oil markets and for raising the voice of Africa on the global energy stage.