The minister of state for petroleum, Mr Ibe Kachiukwu, has replaced Mrs Diezani Alison-Madueke as the conference president of the Organisation of Petroleum Exporting Countries (OPEC).
Speculations have been rife that President Muhammadu Buhari, who is also the minister of petroleum would take the top seat at OPEC, but the organisation in a recent update named Kachikwu as the head of the OPEC conference. Prior to his appointment as the NNPC boss, Kachikwu was the executive vice chairman/general counsel, ExxonMobil Companies, Nigeria, and oversight counsel, ExxonMobil Companies, Africa.
Kachikwu, who is also the group managing director of the Nigerian National Petroleum Corporation (NNPC), revealed his plans for OPEC, saying he would do his best to delay Iran’s intended oversupply of crude oil, to control pricing. Read more