Equatorial Guinea’s Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima will take over the presidency of the Organization of Petroleum Exporting Countries (OPEC) in 2023.

The African Energy Chamber expressed delight for Gabriel Mbaga Obiang Lima’s appointment as OPEC’s leader, adding that with a global climate that is pushing Africa and OPEC countries to reduce its use of petroleum, demand for oil and gas is increasing especially in emerging economies that need to industrialize, eradicate energy poverty and promote clean cooking.

Market stability is currently the most important thing that Africa and the rest of the world need. The African Energy Chamber said that they are sure that Minister Obiang Lima would collaborate with all of the other OPEC members to see to it that the requirements of both producers and consumers are met.