Reappointment of OPEC Secretary-General Mohammed Barkindo Signals Stability for African Oil Markets

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The recent reappointment of Organization of the Petroleum Exporting Countries (OPEC) Secretary General Barkindo has been touted as a move that signals stability for Africa’s oil markets.

The African Energy Chamber (AEC), the voice of the continents, oil, and gas and power industry, recently acknowledged the reelection, describing the move as a factor of stability for African and global oil markets.

“Secretary-General Barkindo has managed to keep OPEC united as an organization under very unstable times and a deep crisis in commodity prices. His leadership and diplomacy has restored market stability and successfully sealed landmark agreements like that of the Declaration of Cooperation between OPEC and non-OPEC member countries,” the African Energy Chamber said in a statement issued this week.

“More importantly for our continent, it is under Secretary-General Barkindo that OPEC gained its two newest African members, Equatorial Guinea in 2017 and the Republic of Congo in 2018,” NJ Ayuk, Executive Chairman of the Chamber and CEO of the Centurion Law Group explained.

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.

“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,” said Ayuk.

“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 teamwork will continue building the bridges our industry needs to achieve greater prosperity,” he concluded.

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