OPEC never wavers from its core values – Secretary-General

Written by on June 14, 2022

Dr Mohammad Barkindo, the Secretary-General, Organisation of the Petroleum Exporting Countries (OPEC) says it has never wavered from its core values in spite of the challenges in the oil industry.

Barkindo made this known on Tuesday in his keynote address at the Mediterranean Gas (MedGas) event Dinner, at Athens, Greece.

Barkindo said that over the last six years, the oil industry and OPEC had been faced with a range of challenges, complex and confounding in equal measure.

Barkindo, while reflecting on how best to synthesise many strands and facets of these changes, said an illuminating gateway to explain the trajectory was the World Economic Forum Annual Meeting held in Davos, Switzerland.

He said the meeting, which took place from May 22 to May 26, was the first of such meeting since the outbreak of the COVID-19 pandemic.

He recalled that there was a lot of discussion on nearshoring, onshoring and reshoring, as well as on the impact of rising interest rates and an end to the era of cheap borrowing.

He further explained that this had been a mantra for many politicians over the last few decades.

According to him, many communities have expressed grievances at missing out on the opportunities that come from globalisation, or feel they have been aggrieved as a result of it.

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