Diezani Out As Kachikwu Emerges New OPEC President


On the heels of President Muhammadu Buhari’s appointment of himself as the country’s Minister of Petroleum resources, many were of the opinion that he would also automatically assume the position of President of the Organization of Petroleum Exporting Countries (OPEC).

These speculations have however been put to rest following a recent update on the organization’s website where Dr. Ibe Kachikwu was named as President.

Kachikwu who replaces former petroleum minister Diezani Alison-Madueke, is the newly elected minister of state for petroleum resources. Speaking on his plans for OPEC, the minister said, “My first target as I meet with ministers one-on-one is to try to delay Iran’s flooding of the market to the last quarter of next year. I will be talking with Iran’s oil minister on that so that we can stabilize the price”.




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