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The latest meeting Wednesday of OPEC ministers in Vienna was uneventful — at least in terms of what the group decided to do, or not to do, about its current crude production policy
Oil And Gas Authoriative Blog Platts A rollover of its 30 million b/d production ceiling had been widely expected following suggestions from ministers in the weeks running up to the meeting that the status quo would be maintained.
Ministers echoed each other throughout the week in Vienna, calling the market “balanced”, describing prices as “good” and repeating that everyone — producers and consumers alike — was “happy.”
But there were some unexpected events at the meeting that may have left some not so happy.
Nigeria’s oil minister Diezani Alison-Madueke was heckled just before the group’s ministerial talks were set to begin by an angry protester calling for her to be fired over allegations of corruption and incompetence.
As Alison-Madueke spoke to reporters shortly before the start of the meeting at OPEC’s Vienna headquarters, a protester from a group calling itself the Gatekeepers Foundation accused the minister of the theft of $20 billion and called for her immediate suspension.
“Nigeria’s oil minister is a thief,” the group’s director, Blessing Agbomhere, shouted before being removed by security from the conference room.
Alison-Madueke rejected Agbomhere’s allegations, saying that there was not $20 billion missing.
“Stop shouting. You can talk to us in a civilized manner,” she said before going on to explain that there had been some operational expense gaps of $200 million “here and there.”
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Alison-Madueke was the talk of the town for another reason too this week in Vienna.
It emerged that Nigeria was proposing to put forward Alison-Madueke for the role of OPEC secretary general.
An advertisement also appeared on the front page of Wednesday’s European edition of the Financial Times that praised Alison-Madueke’s contribution to Nigeria’s oil sector and the country as a whole since becoming oil minister.
Alison-Madueke herself did not confirm that Nigeria was proposing her as secretary general of OPEC or that she had already held several meetings with a number of ministers in her bid to replace former Libyan oil minister Abdalla el-Badri.
Iraqi oil minister Abdul-Karim al-Luaibi said on Tuesday that he was “surprised” when Alison-Madueke had told him earlier in the day that she was a contender for the post.
“We didn’t receive any official notice that she had nominated herself for the position,” he told reporters. “We pointed out that the nomination for the secretary general should be based on a professional basis or criteria,” he said.
Libya’s acting oil minister and current OPEC President Omar Shakmak said only that the Nigerian proposal would be “under consideration” in the coming months.
In the meantime, though, OPEC ministers agreed to extend Badri’s term for an additional six months.
Shakmak said the decision to extend Badri’s tenure had been unanimous and was designed to avoid “disruption” to OPEC and its member countries.
Saudi Arabian oil minister Ali Naimi said he had his own candidate for the job — the kingdom’s former OPEC governor, Majid Moneef — and was continuing to back him.
There were no indications that Iran and Iraq , both of which have fielded former oil ministers, might be ready to back the Nigerian minister.
Ministers will discuss the job in detail at their next meeting on November 27. Will Alison-Madueke still be in the running?
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