Kuwait’s Al-Ghais Takes Role as OPEC Secretary General

Haitham Al-Ghais (Asharq Al-Awsat)
Haitham Al-Ghais (Asharq Al-Awsat)
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Kuwait’s Al-Ghais Takes Role as OPEC Secretary General

Haitham Al-Ghais (Asharq Al-Awsat)
Haitham Al-Ghais (Asharq Al-Awsat)

Kuwait’s Haitham Al-Ghais assumed on Monday his new role as Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), following the late outgoing chief, Mohammad Barkindo.

Al-Ghais affirmed his determination to work for the advancement of the international organization, especially considering the concerns surrounding the global energy market.

In an interview with KUNA on Sunday, Al-Ghais affirmed that he has aspirations and ideas that he will present in coordination with all OPEC member states.

Al-Ghais said that his ideas are aimed at advancing the organization and facing future challenges, the most important of which is maintaining the balance and stability of oil markets.

Al-Ghais is the first Kuwaiti to hold the position of OPEC chief, having been elected by acclamation for a three-year term.

He said the unanimous selection of him by OPEC’s 13 member countries reflects Kuwait’s position and comes as a result of hard and determined work spearheaded by the Deputy Prime Minister, Minister of Oil, and Minister of State for Council Affairs Dr. Muhammad Al-Fares.

Al-Ghais has extensive experience extending over nearly 30 years in the field of global oil markets and the oil industry and has a wide presence and participation in many international oil conferences and forums.

Furthermore, Al-Ghais assumed the position of Governor of Kuwait with OPEC (2017-2021) and chaired the joint technical committee between the organization and countries outside it, which is responsible for monitoring production and studying the conditions of oil markets according to the production reduction agreement signed between the countries contributing to the (OPEC+) agreement.

After he stepped down as Kuwait’s OPEC governor in June 2021 he was appointed as Deputy Director of International Marketing at the state-owned Kuwait Petroleum Corporation (KPC).

Moreover, he headed the OPEC Internal Audit Committee, and he has various contributions within the organization, as well as at the level of the organization’s board of governors, various committees, special works and cooperation with countries outside OPEC.

Also, prior to his participation and contributions in OPEC, he was included in the global marketing sector of the KPC in various sales departments, and headed the regional offices of the Corporation in Beijing and London, and was the Director of the Research Department of the Petroleum Corporation and Deputy Managing Director of Global Marketing.



Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
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Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)

Brazilian miner Vale, one of the world's largest iron ore producers, said on Monday it had partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet.

With the front-end investment exceeding $600 million, the plant, which will be located in Oman's Sohar port and free trade zone, will provide higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, reducing environmental impact, Vale said in a statement on its WeChat account.

The Sohar plant is scheduled to start commissioning in mid-2027, processing 18 million metric tons of iron ore annually to produce 12.6 million tons of high grade concentrate, it said.

"We are strengthening our capability to meet rising global demand for high grade iron ore and further expand our exposure in the Middle East region," said Gustavo Pimenta, chief executive officer (CEO) at Vale.

Vale will invest $227 million for the connection of the beneficiation plant and the pellet and HBI production facility while Jinnan Steel, a private steelmaker headquartered in north China's Shanxi province, will invest about $400 million for the building and the operation of the plant.

Vale did not disclose the equity share held by each party.