…reappoints Al-Ghais as Sec-Gen

The Organisation of Petroleum Exporting Countries (OPEC) has re-appointed Haitham Al-Ghais as its Secretary-General. With this reappointment, his tenure will last till mid-2028.

Al-Ghais who is from Kuwait, has been the Secretary-General of the oil cartel since mid-2022. According to a statement yesterday, also the OPEC Fund for International Development (OPEC Fund) has approved close to $1 billion in new development financing over the last quarter of 2024, including during its 190th Governing Board meeting in Vienna yesterday.

It stated that these projects will benefit countries across the globe and aim to bolster infrastructure, food security, renewable energy, economic resilience and governance in partner countries.

OPEC Fund President Abdulhamid Alkhalifa said: “2024 has been a landmark year for the OPEC Fund, marked by a significant increase in project approvals and commitments across key sectors, helping to build resilience, develop sustainable infrastructure and address climate change.