Analysis Organization of the Petroleum Exporting Countries (OPEC) in Vienna Nov 2012 • Opec difficile scelta Nuovo Segretario

Analysis Organization of the Petroleum Exporting Countries (OPEC) in Vienna Nov 2012 • Opec difficile scelta Nuovo Segretario

Opec the day after Libyan Era Gheddafi •
OPEC's 12 members are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, Venezuela

OPEC difficile SCELTA Nuovo Segretario

scelta del nuovo segretario generale Opec rischia di riaccendere le rivalita', mai sopite, in seno ai Paesi del cartello mondiale del petrolio.

- scontro tra Arabia Saudita ed Iran per la poltrona amministrativa.

In questi giorni un panel composto da esponenti di ogni Paese membro riuniti in sede dell'organizzazione a VIENNA per una serie di consultazioni sul successore dell'attuale segretario OPEC Abdullah al-Badri, il cui mandato termina a dicembre 2012

//// 4 candidati per OPEC director //// •

- il governatore Saudita -Majid Al-Moneef

- il consigliere per l'energia del Primo ministro iracheno - Thamir Ghadhban

- l'ex ministro iraniano del Petrolio - Gholam Hossein Nozari

il ministro del Petrolio di Ecuador - Wilson Pastor

///////// ENGLISH VERSION ////////

Organization of Petroleum Exporting Countries governors gather in Vienna to select a new secretary- general for the first time in 6 years, with 4 countries vying for the position

The governors started their 3 day meeting at OPEC's headquarters and will interview nominees from Iran and Iraq as well as the group's biggest and smallest exporters, Saudi Arabia and Ecuador.

The governors will recommend a successor to Libya's Abdalla el-Badri, who completes a second, three-year term at the end of this year.

A final decision will be taken by ministers in December 2012.
- The secretary-general does play an important role, with implications beyond the oil markets - Ehsan Ul-Haq, senior market consultant at KBC Energy Economics, a unit of KBC Advanced Technology Plc, said by phone from Walton - on - Thames, England - He has to represent all opinions despite differences between member countries.

//// The producer group controlling 40% of global oil supply has boosted output in the past 2 years as fighting in Libya and sanctions on Iran disrupted exports from those two members, keeping prices volatile.

//// The secretary-general can coordinate emergency meetings when needed and the post holds political gravitas within OPEC even though policy decisions are made by oil ministers from the 12 member states.

OPEC supply quotas will be discussed by ministers on Dec. 12, and are not for debate this week.

//// OPEC HISTORY ////

Founded in 1960, OPEC has previously had one secretary- general from each of the 4 nominee countries; Ecuador in 1979-1981 and the others in the 1960s.

Former Ministers

This time, Saudi Arabia nominated its former OPEC governor, Majid al-Moneef, while Iran selected Gholamhossein Nozari, a former oil minister.

Iraq, OPEC's second-biggest producer, is backing Thamir Ghadhban, another former oil minister. Ecuador, the organization's smallest producer, nominated Wilson Pastor, who is that country's current oil minister.

Ministers will make a final decision on any selection at the full OPEC meeting on 2012 Dec. 12 at the group's headquarters in the Austrian capital.

The competition to fill the OPEC secretariat's top job comes amid rising tension between Saudi Arabia and Iran.

Saudi-Iran Tension

Saudi Arabia's Sunni monarchy has accused Shiite-led Iran of interfering in the affairs of Arab countries in the Persian Gulf, a charge denied by Iran who in turn accuses Sunni rulers in Bahrain and Saudi Arabia of discriminating against Shiites.
Saudi Arabia increased output this year to replace volumes lost from Iran, whose exports have
been curbed by U.S. and European Union sanctions, relegating it from the rank of OPEC's second- largest producer.

Suleiman al-Herbish, who was nominated for the secretary- general position by Saudi Arabia in 1999, is backing the kingdom's nominee.
Al-Moneef wrote his doctorate thesis on the impact of oil prices on producing nations and is respected in the energy industry, al-Herbish said.
- Other members should be delighted that the kingdom is putting forward someone with so much knowledge and experience - al-Herbish, now the director-general of the OPEC Fund for Intern. Development, said in a phone interview from Vienna today.

Saudi Arabia is balancing the market, it is the main exporter, it is putting its weight behind the organization, playing the major role in charting the future of OPEC, and it hasn't held the secretary-general position for a long time.

///// OPEC Required Experience /////

The OPEC Statute defines the requirements for a secretary- general, who must be at least 35 years old with a degree from a recognized University, and have at least 10 years experience in the oil industry.

- It may be difficult to elect someone from Iran because of the embargo - Hannes Loacker, an analyst at Raiffeisen Bank Intern. AG in VIENNA, said

- It may also be difficult to get agreement about a Saudi Arabian person because the kingdom may push
for an oil price of around $100 a barrel while the other members would prefer higher prices.

For those reasons, the Ecuadorean or Iraqi candidates may be - more convenient - Loacker said.

www.world-petroleum.org

upi.com

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TAGS: Opec Nov 2012, segretario OPEC Abdullah al-Badri Nov 2012, Opec Ecuadorean or Iraqi candidates Nov 2012, in Opec Saudi Arabia is balancing the market, Analysis Organization of the Petroleum Exporting Countries (OPEC) in Vienna Nov 2012, Majid Al-Moneef - Thamir Ghadhban, Gholam Hossein Nozari, il ministro del Petrolio di Ecuador - Wilson Pastor, Opec difficile scelta Nuovo Segretario 2012 Dec 12 Vienna

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