Saudi Arabia Appoints New OPEC Governor

Saudi Arabia Appoints New OPEC Governor

DUBAI - Saudi Arabia, the world's largest oil exporter, has appointed Yasser Mufti a new governor for the Organization of Petroleum Exporting Countries.

Mufti, who previously worked for state-giant Saudi Arabian Oil Co., or Saudi Aramco, and was the country's national representative to OPEC's Economic Commission Board from 2003 until 2009, replaces Majid al-Moneef, according to OPEC website.

Saudi Arabia in January named al-Moneef a candidate as its choice to replace the current secretary general of OPEC, Abdalla Salem el-Badri.

"The nomination is still in place and nothing has changed," a senior Saudi oil official said.

Last month Iraq nominated Thamer Ghadhban, a former Iraqi oil minister, to head OPEC, competing with al-Moneef to run the oil producers' policy making group.

El-Badri, a Libyan, is set to leave his position at the end of this year, setting up a competition to head the group's Vienna-based headquarters. The secretary general plays a key role in brokering OPEC's deals on output policies.

Copyright (c) 2012 Dow Jones & Company, Inc.


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