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Iranian Oil Minister Appointed as OPEC President

2024-12-12

Iranian Oil Minister Mohsen Paknejad has been chosen as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) for 2025.

OPEC announced the election of its upcoming president in a press release on its website and expressed gratitude to Marcel Abeke, Gabon's minister of petroleum, for his leadership as the organisation's president in 2024. This announcement was reported by Xinhua news agency, citing Iran's official news agency, IRNA.

IRNA reported that Paknejad expressed his dedication to leveraging all his capabilities to ensure the organisation's consistency, solidarity, and progress.

Additionally, OPEC has extended the term of its secretary general, Haitham Al Ghais, for another three years, starting on August 1, 2025, as noted in the press release.

Iran will officially assume the presidency of the organisation on January 1, 2025. The OPEC presidency rotates annually among its member nations.

OPEC, a permanent intergovernmental organisation of 12 oil-exporting developing countries, is tasked with coordinating and unifying petroleum policies across its member states.