Saturday, April 20, 2013

Iran, Iraq Main Rivals for OPEC Presidency – Oil Minister

Iran and Iraq will be in tight race for the post of the Secretary General of the Organization of Petroleum Exporting Countries (OPEC) if Saudi Arabia withdraws its candidacy as expected, said Iranian Oil Minister Rostam Qasemi.

“Saudi Arabia's firm decision to withdraw its candidacy for the post of OPEC Secretary-General has not yet been announced, but it seems that Iran and Iraq are stronger candidates for the post than Saudi Arabia,” Qasemi said in a press conference in Tehran today. “I have heard some news that Saudi Arabia wants to retreat his nominee from the upcoming Secretary-General election.”  (Fars News Agency, 20 April)

Iran will introduce its former oil minister Qolam Hossein Nozari for the post. Iraq’s candidate if also its former oil minister Thamer Ghadban. The Saudis were originally expected to nominate Majid Moneef, the country's former representative on OPEC's governing board.  

Iraq's reconstruction of its oil industry after Saddam has thrust it back into the ranks of major producers and generally sides with Iran in the cartel to increase prices. The Saudis exert moderation in price hikes to avoid disruptions in the market.

File photo: OPEC HQ in Vienna (AFP)

1 comment:

Anonymous said...

Both are simpatico and allies.