OPEC Chiefs Withstood the Test of Major Historical Events

Abdul Rahman al-Bazzaz, Subroto, Asharq Al-Awsat
Abdul Rahman al-Bazzaz, Subroto, Asharq Al-Awsat
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OPEC Chiefs Withstood the Test of Major Historical Events

Abdul Rahman al-Bazzaz, Subroto, Asharq Al-Awsat
Abdul Rahman al-Bazzaz, Subroto, Asharq Al-Awsat

Successive personalities have occupied the position of Secretary-General at the Organization of the Petroleum Exporting Countries (OPEC), a 13-country organization that underwent major pivotal historical events in the global arena.

Over the years, the organization dealt with these events with wisdom that allowed it to endure and achieve goals in unifying and developing oil policies and stabilizing oil markets globally.

Some of the biggest and most dangerous challenges that faced OPEC include the Carlos the Jackal incident in the mid-70s, the oil wells crisis in Kuwait during the Iraqi invasion in the early 90s, as well as the September 11 attacks at the beginning of the new millennium.

Lastly, the organization had to face the repercussions of the coronavirus pandemic.

The organization was exposed to a significant crisis in 1975 when its headquarters were raided by Ilich Ramírez Sánchez, also known as Carlos the Jackal. This was one of the strangest and most surprising operations.

At the time, OPEC was headed by Nigeria’s Meshach Otokiti Feyide. The crisis was dealt with professionally so that the markets would not be affected by this attack. Indeed, the organization succeeded in continuing its path after overcoming the problem.

During the era of the Indonesian Secretary-General Subroto, OPEC witnessed a major crisis when Kuwait - one of the largest producing countries – had its oil wells destroyed during the war launched by the regime of former Iraqi President Saddam Hussein in late February 1991.

It is estimated that the Iraqi dictator had blown up approximately 1,073 Kuwaiti oil wells.

The organization had a major role in pumping more oil to achieve international sufficiency and maintain market stability. Once again, OPEC was able to withstand and succeed in the face of challenges.

The next critical juncture came when the US fell victim to a terrorist attack in September 2001.

At that time, global markets witnessed a frightening decline, including oil. It even shook the organization during the reign of Secretary-General Alvaro Silva Calderon, exposing it to a real crisis.

As a result, OPEC was forced to temporarily reduce production due to the decline in demand.

Finally, the beginning of 2020 witnessed historical developments at the level of oil markets. They were exposed, alongside the entire world, to an unprecedented crisis caused by the outbreak of the coronavirus pandemic.

However, OPEC was able to restore the health of the markets once again.



GACA to Showcase Saudi Aviation Achievements at Bahrain International Airshow

GACA to Showcase Saudi Aviation Achievements at Bahrain International Airshow
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GACA to Showcase Saudi Aviation Achievements at Bahrain International Airshow

GACA to Showcase Saudi Aviation Achievements at Bahrain International Airshow

The Saudi General Authority of Civil Aviation (GACA) will take part in the seventh edition of the Bahrain International Airshow, which will be held from November 13 to 15 at Sakhir Airbase.

The event will showcase the achievements of the Saudi aviation sector, highlight significant investment opportunities available, reinforce the Kingdom's leadership in the global aviation arena, and explore avenues for collaboration to develop a more prosperous aviation sector.
GACA Spokesperson Ibtisam Al-Shehri said that at the airshow, the authority will present its initiatives to develop regulations that promote growth and innovation in the Kingdom's aviation sector, and highlight the achievements of the National Aviation Strategy, which aims to secure $100 billion in investments, boost passenger traffic to 330 million and link the Kingdom to 250 international destinations by 2030.
She added that GACA will also introduce the Civil Aviation Environmental Sustainability Program, and emphasize its expertise in enhancing passenger experience and streamlining operational procedures, all in accordance with the latest international standards.
The Bahrain International Airshow will feature 11 sponsoring companies, 223 civil and military delegations from 56 countries, and more than 135 local, regional, and global companies.