ECONOMY


OPEC elects Venezuelan Petroleum Minister as its next president

Baku, December 8, AZERTAC

People's Minister of Petroleum of the Bolivarian Republic of Venezuela Manuel Salvador Quevedo Fernandez has been elected as a next President of the OPEC Conference for one year, with effect from 01 January 2019, while Mustapha Guitouni, Algeria’s Minister of Energy as Alternate President, for the same period during the 175th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) held in Vienna, Austria.

The Conference also appointed Agustín Mba Okomo, Equatorial Guinea’s Governor for OPEC, as Chairman of the Board of Governors for the year 2019, and Mr. Etienne Lepoukou, Gabon’s Governor for OPEC, as Alternate Chairman for the same period.

Earlier, the Organization of the Petroleum Exporting Countries has agreed with Russia and other non-OPEC allies to cut crude oil production by 1.2 million barrels per day for the first 6 months of 2019.

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