Diezani Elected OPEC President

Nigeria’s Minister of Petroleum Resources, Mrs. Diezani Alison- Madueke was on Thursday elected as president of the Organization of Petroleum Exporting Countries, OPEC.

She is the first female president of the 12 nations’ oil cartel and was elected at the 166th General Meeting of the organization in Vienna, Austria, reveals Ohi Alegbe, spokesman for the Nigeria National Petroleum Corporation (NNPC).

She takes over from Abdourhman Ataher Al-Ahirish, Libya’s Vice Prime Minister for Corporations. Diezani is expected to hold the post for a year; 2015.

OPEC is meeting a little more than five months since it last met and it is expected take vital decisions that could reverse the dwindling price of crude oil in the international market.

Ex-president Al-Ahirish in his opening remarks before the closed door meeting explained that ample supply and uncertainties about global economic growth have been key factors in the recent price trend.

Meanwhile, the leaders of the two main oil and gas unions in Nigeria, NUPENG and PENGSSAN have hailed the development, describing it a good omen for the nation’s economy.

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