Wina: Secretary General OPEC, Mohammad Barkindo of Nigeria, has died unexpectedly at the age of 63, announced on Wednesday, leaving the headless oil cartel at a turmoil time for the market.Barkindo has led the organization of petroleum export countries since 2016 and is scheduled to be replaced by Haitham al-Ghais from Kuwait next month.Under its management, the cartel falsified relations with 10 other oil-producing countries, such as Russia, to form a broader group known as OPEC+ in an effort to further tame global oil prices, shaken by the challenges of Pandemi Coronavirus and recently the war in Ukraine.
“We lost Dr. (Mohammad) our honorable Sanusi Barkindo. He died at around 11:00 yesterday afternoon July 5, 2022,” Chief Executive of National Petroleum Corporation Nigeria Mele Kyari Tweeted, without giving further details about the condition of Barkindo’s death.”Of course a big loss for his close family, NNPC, our country Nigeria, OPEC and the global energy community. The funeral regulation will be announced soon,” Kyari wrote.This tragedy is very surprising for the OPEC family,” Tweeted Opec based in Vienna.
“We convey our sadness and gratitude for more than 40 years of selfless service that … Barkindo gave OPEC. His dedication and leadership will inspire OPEC for years to come.”Only a few hours before, Barkindo – who did not show signs of illness – had met with President Nigeria Muhammadu Buhari in Abuja, where Buhari praised “Honorable Achievement Barkindo at OPEC.
‘Pioneer’
“You managed to navigate the organization through turbulent challenges,” said Buhari.In a statement, Opec stated “his extraordinary sadness and sadness” in the news, describing Barkindo as “a pioneer who is highly admired and respected throughout the world. A good friend for many people.”Born on April 20, 1959, Barkindo graduated in politics and completed his studies at Oxford and Washington.
He became a representative of Nigeria at OPEC in 1986. Starting from 1992 he occupied a number of positions in NNPC, and took over as the executive head of the oil department in 2009/10.Secretary General OPEC does not use any executive power, but is the face of a cartel public and often must act as a diplomat to unite different interests and sometimes conflict with various member countries.
For analysts, Barkindo’s death will not have an impact on the OPEC strategy in the long run.But in running short-back, it will increase uncertainty about the next OPEC steps and increase price volatility because he is a unity figure for OPEC,” Swissquote analyst, Ipek Ozkardeskaya said.SPI asset management analyst, Stephen Innes, described Barkindo as a “very important figure and the strength of the stabilizer behind OPEC.
“But his death was impossible to change the direction of OPEC even though more politics outside entered the picture,” said the expert, estimating that his successor, Haitham al-Ghais “Augurs for the status quo gave a close relationship with Kuwait with Saudi Arabia, who held the most. Bathing Kuwait the most influence “in the group.