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Iran to hold Opec presidency for first time in 36 years
Posted By aaron On October 14, 2010 @ 10:04 pm In Iran | Comments Disabled
October 14, 2010
Iran will assume the presidency of the Organization of Petroleum Exporting Countries (Opec) for the first time in 36 years.
The country’s oil minister was elected as Opec president at a one-day meeting of the group, which is made up of 12 oil producing states.
Masoud Mir-Kazemi will hold the presidency from 1 January 2011.
Iran, which takes over from Ecuador, is Opec’s second-largest oil producer and holds about 10% of world oil reserves.
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