Equatorial Guinea’s Lima takes over as OPEC President

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Lagos, Dec. 4, 2022 – Gabriel Mbaga Obiang Lima, the Minister of Mines and Hydrocarbons of Equatorial Guinea, will take over as the president of the Organization of Petroleum Exporting Countries (OPEC) in 2023.

The African Energy Chamber (AEC) said this, adding that Obiang Lima would be taking over from the Republic of the Congo’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua.

The OPEC presidency holds a one-year tenure.

The Executive Chairman of African Energy Chamber, NJ Ayuk, was credited as saying: “We at the African Energy Chamber are very pleased to see the appointment of Gabriel Mbaga Obiang Lima as the president of OPEC.

“With a global climate that is pushing Africa and OPEC countries to abandon oil and gas, demand for oil and gas is increasing especially in emerging economies that need to industrialize, eradicate energy poverty and promote clean cooking.

“What Africa and the world need more than anything right now is market stability. We are confident that Minister Obiang Lima will work with all OPEC member countries to ensure the needs of producers and consumers are met.”

According to the AEC, Minister Obiang Lima’s appointment is expected to facilitate a platform that will advance the interests of African oil and gas explorers and producers and all OPEC members.

The AEC believes that the appointment of Minister Obiang Lima is poised to demonstrate the continent’s steadfast commitment to working with a variety of stakeholders under the common goal of making energy poverty history in Africa by 2030.

The AEC also says the appointment reestablishes Africa as a leading powerhouse in the global oil industry while highlighting the fact that through the OPEC presidency, Equatorial Guinea will:

1, Hold a more prominent position in the global energy arena, and will be able to voice an African perspective within the organization.

2, Actively influence decision-making in both the region’s and wider continent’s favour, while promoting the challenges faced and opportunities present within Africa’s energy sector.

3, The AEC also credits the oil industry in Equatorial Guinea as experiencing exponent growth, contributing to the country’s economy and socioeconomic development.

Minister Obiang Lima is a firm believer in Africa exploiting its natural resources like oil, gas, iron ore, and other minerals, without seeking third-party assistance. (GBN)

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