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Home Business Extractives/Energy

AEC Endorses Re-Election of OPEC Secretary General Haitham Al Ghais 

December 11, 2024
in Extractives/Energy
Reading Time: 4 mins read
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The African Energy Chamber (AEC), a prominent advocacy group for Africa’s energy sector, has called on African energy ministers to back the re-election of Haitham Al Ghais as Secretary General of the Organization of the Petroleum Exporting Countries (OPEC).  

In a statement, the AEC lauded Al Ghais’ leadership for fostering stability in the global oil industry and for aligning Africa’s energy ambitions with global energy markets. 

“The Chamber believes in Al Ghais’ continued leadership in driving the stability of the oil industry and in unifying African producers with global partners to meet African energy and economic growth needs.” 

NJ Ayuk, Executive Chairman of the AEC

Haitham Al Ghais has been at the forefront of championing Africa’s sustainable energy development amid the complexities of the global energy transition.  

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His tenure has focused on optimizing Africa’s vast hydrocarbon resources—estimated at 125.3 billion barrels of crude oil and 620 trillion cubic feet of natural gas—to enhance energy security and economic growth.  

Under his stewardship, OPEC has provided crucial support to African member states, helping them expand their energy portfolios and improve the oil and gas value chain. 

The AEC underscored that several African OPEC member states have responded to Al Ghais’ call to boost hydrocarbon reserves and production.  

Libya plans to offer 22 onshore and offshore blocks in its 2024 licensing round, while Nigeria has unveiled 12 oil blocks for exploration as part of its own licensing initiative.  

These moves reflect the continent’s commitment to leveraging its energy resources to address local and global energy demands. 

“For example, Ghana achieved a 10.7% year-on-year increase in crude oil production in the first half of 2024, marking its first production rise in five years.

“Libya also ramped up its crude output to 1.37 million barrels per day in November 2024, while multiple exploration activities were launched in collaboration with global energy firms.”  

NJ Ayuk, the Executive Chairman of the AEC

These advancements underscore the resilience of Africa’s energy sector, even amid global challenges such as fluctuating oil prices and the shift towards renewable energy. 

Addressing Africa’s Energy Access Challenges 

NJ Ayuk, Executive Chairman of the AEC
NJ Ayuk, Executive Chairman of the AEC

With 600 million people in Africa lacking electricity and 900 million without access to clean cooking solutions, Al Ghais’ leadership aligns with Africa’s broader agenda for energy equity.  

The AEC highlighted the critical role of oil and gas in bridging this gap. While global energy demand is projected to grow by 24% by 2050, with oil demand reaching 120.1 million barrels per day, Africa’s oil markets are poised to play a central role in meeting this rising need. 

Under Al Ghais, OPEC has continued to support Africa’s push for a just energy transition—one that balances the global shift to renewable energy with the continent’s developmental priorities. 

“It becomes imperative to leverage the leadership of innovative and committed industry cadres such as Al Ghais, who believe in the sustainable use of Africa’s entire energy resources for a just energy transition,” the AEC stated. 

NJ Ayuk, the Executive Chairman of the AEC, expressed strong support for Al Ghais’ re-election.  

“Secretary General Al Ghais has ushered the global oil industry into an era of stability and sustained growth.

“With energy demand expanding due to rising economic activity and population growth, particularly in Africa, Al Ghais’s vision and decisive leadership are more essential than ever.”  

NJ Ayuk, the Executive Chairman of the AEC

“The Chamber supports his re-election as OPEC Secretary General,” Ayuk added highlighting Al Ghais’ strategic vision, which has fostered cooperation among African energy producers and positioned OPEC as a key partner in addressing global energy challenges. 

The partnership between African energy producers and OPEC under Al Ghais’ leadership has been instrumental in fostering stability and growth.  

From new discoveries in marginal and greenfield basins to expanded exploration activities, African nations have demonstrated a collective commitment to sustainable energy development. 

These efforts have also bolstered Africa’s influence within the global energy landscape, ensuring that the continent’s needs and priorities are addressed. 

In endorsing Al Ghais, the African Energy Chamber reaffirmed its commitment to a future where Africa’s energy resources drive economic growth, improve living standards, and contribute to global energy security. 

READ ALSO: AfDB Offers Recommendations to Address Nigeria and Africa’s Debt and Forex Challenges 

Tags: African Energy Chamber (AEC)Oil industryOPEC
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