Petroleum Minister elected 1st female President of OPEC

Nigeria’s Minister of Petroleum Resources, Diezani Alison-Madueke has been elected president of the Organisation of Petroleum Exporting Countries (OPEC).

Mrs. Alison-Madueke, who is the first female to occupy the position, was appointed today, November 27, 2014, at the ongoing General Meeting of the organization in Vienna, Austria.

The minister now occupies the position which was vacated by Libya’s Vice Prime Minister for Corporations, Abdourhman Atahar Al-Ahirish.

Members of OPEC are expected to take crucial decisions regarding the continuing decline of oil prices at the General Meeting which is the organization’s 166.

Nigeria has been forced to introduce austerity measures, including a new tax on private jets, to counter the falling oil prices.