OPEC’s 60th Anniversary Celebration Postponed

OPEC’s 60th Anniversary Celebration Postponed
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OPEC’s 60th Anniversary Celebration Postponed

OPEC’s 60th Anniversary Celebration Postponed

The celebrations of OPEC’s 60th Anniversary, which were originally scheduled this month in Baghdad where the Organization was founded, have been postponed.

Mohammad Sanusi Barkindo, OPEC Secretary General, said in statements on Friday that he received a letter from Ihsan Abdul Jabbar Ismaael, Iraq’s Oil Minister stressing that it is “genuinely disappointing not to be able to host the 60th Anniversary” following months of preparations for the historic event.

“The health and safety of all are of utmost importance,” the Minister noted.

Barkindo expressed his sincere gratitude for Iraq’s gracious initiative to host OPEC’s Diamond Anniversary in the Al-Shaab Hall in Bab Al-Muaadham, Baghdad, the site of OPEC’s founding in 1960.

“It is very unfortunate that we are unable to mark OPEC’s Diamond Anniversary in September at the same site where the historic ‘Baghdad Conference’ was held between 10 and 14 September 1960," he said.

"It was a historic meeting in all senses that saw the common vision and wisdom of our Founder Members and led to the creation of a foresighted organization that grew in stature and influence to become a distinguished entity within the global energy community,” Barkindo noted.

OPEC is an intergovernmental organization that was established on 14 September 1960 in Baghdad by its five Founder Members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Its membership has grown since then to 13 oil producing countries.

This month, OPEC is also marking the 55th year since the Organization’s Secretariat moved to the Austrian capital of Vienna.



Saudi Minister of Economy: Accelerating Economic Diversification Is Priority of Vision 2030

Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim speaks at the forum. (SPA)
Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim speaks at the forum. (SPA)
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Saudi Minister of Economy: Accelerating Economic Diversification Is Priority of Vision 2030

Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim speaks at the forum. (SPA)
Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim speaks at the forum. (SPA)

Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim said the Kingdom has reached the halfway point in its journey towards Vision 2030, reported the Saudi Press Agency on Tuesday.

He made his remarks at a panel discussion at the World Economic Forum's Annual Meeting of the New Champions (AMNC24) in Dalian, China.

The minister discussed the rapid growth of non-oil activities since implementing the Kingdom's Vision 2030.

The minister said: "The Kingdom achieved an economic growth rate of 8.7% in 2022, with non-oil activities contributing 5.6%. Non-oil activities account for 51% of the real gross domestic product, surpassing the oil economy.”

“The Kingdom has reached the halfway point in its journey towards Vision 2030 and will continue to prioritize economic diversification and human capital development,” he stressed.

Furthermore, he highlighted the Kingdom's role in energy security and climate action, stating that it is a major producer of clean hydrocarbon energy and has made significant strides in renewable energy, including green hydrogen, solar, and wind energy.

The minister emphasized the need for a comprehensive and integrated approach to address global economic challenges and stressed the importance of international cooperation, innovation, and comprehensive solutions.