London-based Energy Institute, the largest professional body for the energy industry, has chosen Energy Minister HE Dr Mohamed bin Saleh al-Sada as the ‘International Oil Diplomacy Man of the Year 2016’.
The award would be presented to Dr al-Sada, who holds a PhD from the University of Manchester, London at the institute’s International Petroleum Week on February 22.
The selection of Dr al-Sada came in appreciation and recognition of the pivotal role he played through 2016 in securing the Vienna agreements to cut global oil supply. The award is also in recognition of the critical role Qatar has played in leading producing countries from around the world to find common purpose in cooperation and partnership.
“As President of the Opec (Organisation of the Petroleum Exporting Countries) Conference, Dr al-Sada has made history by showing exemplary vision and stewardship in reaching a “historical” agreement to cap oil output among Opec and non-Opec oil producers at a time when the energy industry was at its lowest ebb,” Louise Kingham, chief executive, Energy Institute, said.
Reports from Opec and non-Opec countries have shown almost full compliance with the two Vienna Agreements, with 1.5mn of the almost 1.8mn bpd commitment already removed from the market. The agreement, which came into effect on January 1, is for six months, and can be extended for an additional six months or as deemed necessary.
The accord would bring to an end a record global oil glut after more than two years of low crude prices that overstretched many state budgets. Oil prices, which were below $30 a year ago, have almost doubled to around $55 a barrel, after the Opec pact late last year.
Established in 2003, the Energy Institute supports over 23,000 individuals working in or studying energy and 250 companies worldwide, providing learning and networking opportunities to support professional development, as well as professional recognition and technical and scientific knowledge resources on energy in all its forms and
applications.
HE Dr Mohamed bin Saleh al-Sada
