African Oil Producers Welcome President Putin’s Choice of Energy Minister

The decision by President Vladmir Putin to retain Alexander Novak as Russia’s energy minister has been greeted with a sigh of relief, especially from Africa’s oil producers. Alexander Novak is seen as a friend of Africa’s oil producers such as Nigeria and Angola and Equatorial Guinea due mainly to the role he played in conceptualizing the oil production deal with the Organization of Petroleum Exporting Countries (OPEC). Add to that Novak has always supported the establishment of new alliances with Africa and believes this move signals the potential for further cooperation for Russia and Africa. With the modalities for takeoff of agreements signed at the Russia-Africa Summit which took place late last year, Russia is working on nurturing a sustainable relationship with Africa, thus the optimism with which policy makers acknowledged the reappointment of Novak as a good omen.

President Vladmir Putin
President Vladmir Putin

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“Minister Novak has ensured that African companies have a seat at the table, built partnerships and pushed President Putin’s mission to broaden and strengthen relationships with Africa,” said Executive Chairman of the African Energy Chamber, NJ Ayuk. “The African Energy Chamber has always enjoyed a good relationship with him and the Russian energy sector and, we look forward to furthering our collaboration,” he added.

Having maintained his seat as energy minister since 2012, Novak’s reappointment is received as the Kremlin’s commitment to the continuation of the o strategy which has already seen Russian companies benefit from bilateral cooperation with OPEC member states and boosted oil prices.

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“Alexander Novak has emerged as the reliable and dependable bridge between OPEC and non-OPEC in the Declaration of Cooperation. He has earned the respect and admiration of all participating countries in the OPEC+ group,” said H.E. Mohammad Sanusi Barkindo, Secretary General of OPEC. Adding that, “His reappointment as Russia’s Energy Minister at this crucial juncture will further strengthen the collaboration with OPEC in our noble course to maintain oil market stability in the interest of producers, consumers and the global economy.”

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry