Kuwait names new OPEC governor, national representative under oil minister Fares

2021-09-26by admin

Kuwait has shuffled its OPEC delegation, promoting Mohammed al-Shatti to its second-ranking envoy to the organization, behind oil minister Mohammed al-Fares.

Shatti, who will serve as Kuwait’s OPEC governor, was previously the delegation’s No. 3 official as OPEC national representative. He replaces Haitham al-Ghais, who is now the vice president of international marketing for state-owned Kuwait Petroleum Corp.

The OPEC national representative role will be filled by Sheikh Abdullah al-Sabah.

Kuwait pumped 2.36 million b/d of crude oil in May, in line with its quota, according to the latest S&P Global Platts survey of OPEC production. It is currently the organization’s fifth largest member by crude output and is a close ally of Saudi Arabia, OPEC’s biggest producer.

It serves on the Joint Ministerial Monitoring Committee that oversees a production cut accord between OPEC, Russia and several other allies that has been in place since 2017. As Kuwait’s OPEC governor, Shatti will serve on a Joint Technical Committee that advises the JMMC, supported by Sheikh Abdullah.

OPEC plans to next meet June 24, followed by a full OPEC+ meeting with Russia and the other allies on July 1, to decide on production quotas for August and possibly beyond.

Outside of the JTC, OPEC governors serve on the OPEC Board of Governors, which is tasked with managing the affairs of the organization, formulating its budget and making operational recommendations to the conference of oil ministers, among other duties.