OPEC’s Al-Ghais: The best is yet to come for Africa
The fourth edition of the Angola Oil & Gas Conference has finally come to a close after two days of activity in Angola's capital of Luanda. The two day summit was a breeding ground for talks between regional energy leaders, oil company executives, and global financiers. CNBC Africa's Tania Habimana was there and spoke to The Secretary General of the Organization of the Petroleum Exporting Countries, Haitham Al Ghais for more.
Fri, 15 Sep 2023 21:06:27 GMT
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AI Generated Summary
- The expansion and resilience of OPEC: Al Ghais highlighted OPEC's evolution from five founding members to a diverse group of 13 countries, with significant representation from Africa. Despite enduring geopolitical and natural challenges, OPEC has maintained cohesion and a focus on ensuring global market stability.
- Investment and partnerships for sector development: The Secretary General emphasized the importance of investments in the energy industry and fostering partnerships to unlock the continent's vast resources. He underscored the role of collaboration in driving innovation, knowledge transfer, and sustainable growth in Africa's energy sector.
- Addressing energy poverty and promoting global cooperation: Al Ghais emphasized the transformative impact of energy access in driving prosperity and development across Africa. He highlighted OPEC's Charter of Cooperation as a platform for expanding opportunities for collaboration with producers outside the organization, fostering cohesion and joint ventures for mutual benefit.
The fourth edition of the Angola Oil & Gas Conference has recently concluded after two days of intensive discussions in Luanda, Angola's capital. The event was a melting pot of ideas and collaborations among regional energy leaders, oil executives, and global financiers. Among the esteemed guests was Haitham Al Ghais, the Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), who shared insightful perspectives on the future of the industry and Africa's potential in the energy sector. Al Ghais highlighted the origin and expansion of OPEC, emphasizing the organization's global reach and its core mission of maintaining market stability. With 13 member countries, including seven from Africa, OPEC has stood the test of time, navigating through geopolitical challenges and natural disasters while upholding cohesion within the group. Al Ghais expressed optimism about Africa's energy landscape, citing the continent's abundant oil and gas reserves, young workforce, and potential for exponential growth. He firmly believes that the best is yet to come for Africa's energy sector, foreseeing increased collaboration and knowledge transfer among OPEC members, particularly with African nations. The Secretary General pointed out the pivotal role of partnerships in ensuring sector stability, advocating for investments in the industry to harness the rich resources for global benefit. He underscored the significance of addressing energy poverty, emphasizing the transformative power of energy access in driving prosperity and development across Africa. Al Ghais also shed light on the Charter of Cooperation signed in 2019, which has expanded opportunities for collaboration with 10 oil producers outside OPEC. Looking ahead, he highlighted the enduring importance of the oil industry and the opportunities it presents for economic and societal advancement. With over three decades of experience in the sector, Al Ghais sees a promising future for OPEC, driven by innovation, collaboration, and a shared commitment to sustainable energy solutions.
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