Iran’s oil minister elected as OPEC president for 2025

Iranian Oil Minister Mohsen Paknejad has been elected as the president of the Organization of the Petroleum Exporting Countries (OPEC) for 2025.

Paknejad expressed gratitude for the trust placed in him, pledging to utilize all his efforts and resources to strengthen OPEC’s unity and progress.

“Serving as OPEC president is an honor for me and for Iran, as one of OPEC’s founding members,” he said.

Paknejad highlighted the importance of maintaining unity within OPEC and fostering cooperation with non-OPEC partners under the Declaration of Cooperation (DOC).

He also congratulated members on the eighth anniversary of the DOC, emphasizing its critical role in navigating global energy challenges.

Iraq’s Oil Minister was also elected as vice president for the upcoming term.

Additionally, OPEC’s Secretary General Haitham Al-Ghais from Kuwait was reappointed for another three-year term.

The 189th OPEC meeting, chaired by Gabon’s Oil Minister Marcel Abeke, finalized key decisions, including approving OPEC’s budget and urging timely financial contributions from member states.

Iran will assume the presidency on January 1, 2025, in alignment with OPEC’s alphabetical rotation policy.

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