Saudi Arabia’s minister of energy, industry and mineral resources Khalid Al Falih will be presented with the ‘International Oil Diplomacy Person of the Year 2017’ award at Energy Institute’s International Petroleum (IP) Week in London from 20 – 22 February 2018
The selection of Al-Falih came in recognition of the role he played through 2017 in implementing the Vienna Agreement to cut global oil supply, which eroded record inventories and pushed oil prices to consolidate above US$60 per barrel.
The award, which is presented annually by the UK’s Energy Institute and Gulf Intelligence, is also in recognition of the leadership displayed by Al-Falih in guiding about 20 producing countries to reach more than 100 per cent compliance with cuts and extend the oil supply pact for a second year through to the end of 2018.
Speaking about this award, “As President of the OPEC Conference, you have shown exemplary vision and leadership through 2017 with your stewardship of the implementation of the historical agreement to seek oil market stability among some 20 OPEC and non-OPEC countries to the benefit of producing and consuming nations alike,” said Malcolm Brinded, president of Energy Institute.
IP Week is recognised as one of the major international oil and gas events, where senior leaders, policy makers and academics gather to share, learn and shape the future direction of the industry. Delegates from more than 50 countries are expected to attend this year’s event.
