Arab Today, arab today iraq nominates gadhban to head opec
Last Updated : GMT 08:44:49
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Iraq nominates Gadhban to head Opec

Arab Today, arab today

Arab Today, arab today Iraq nominates Gadhban to head Opec

Vienna - Arabstoday

Iraq nominated former Oil Minister Thamir Gadhban to the post of Opec secretary-general, competing against a candidate from the organisation\'s de facto leader Saudi Arabia. The Iraqi Cabinet approved naming Gadhban, the 67-year-old current top adviser to the Iraqi prime minister, as head of the Organisation of Petroleum Exporting Countries, according to an emailed statement. He was oil minister in 2004 and 2005, after the US-led invasion ousted the regime of Saddam Hussain. Iraq is the third-largest producer in Opec, supplier of about 40 per cent of the world\'s oil, after Saudi Arabia and Iran. Iraq is pumping more than three million barrels a day, its highest since Hussain seized power in 1979, Oil Minister Abdul Kareem Al Luaibi said on Monday. The secretary-general often helps members reach consensus on output policy and represents the group in dealings with governments and other international organisations. Saudi Arabia, the world\'s biggest crude exporter, nominated Majid Al Moneef, its Opec governor, as head of the producer group, a person with knowledge of the matter said February 1. Opec\'s current secretary-general, Abdullah Al Badri of Libya, will complete his second three-year term at the end of this year, after first taking over on January 1, 2007. Al Badri\'s selection as secretary-general in 2007 ended a three-year deadlock over a permanent appointment for the position. The one-time chairman of Libya\'s National Oil Co was then picked over rival candidates from Iran and Kuwait. Each of Opec\'s 12 members appoints a governor and a national representative to the group. The governor sits on the board, helping to manage the organisation and its budget, while the representative\'s duties include analysing the oil market. Iraq\'s production has been rising steadily after years of conflict, sanctions and sabotage.

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