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Long-serving Saudi oil minister Ahmed Zaki Yamani dies at 90 – Washington, District of Columbia

Washington, District of Columbia 2021-02-23 01:09:11 –

Dubai, United Arab Emirates (AP) — Ahmed Zaki Yamani, the oil minister who has led the kingdom in Saudi Arabia for many years …

Dubai, United Arab Emirates (AP) — Ahmed, Saudi Arabia’s longtime oil minister, who led the kingdom through the 1973 oil crisis, was a state-owned energy company, and was later kidnapped by assassin Carlos the Jackal. Zaki Yamani died in London on Tuesday. He was 90 years old.

Saudi state television reported his death without giving any reason. He was said to be buried in the Islamic sanctuary of Mecca.

Known for its Western-style business suits and soft-toned tones, Yamani has helped Saudi Arabia gain a dominant presence in OPEC since its inception. The kingdom is still heavyweight within the group, and its decision has spread throughout the oil industry, affecting prices from barrels to petrol pumps.

“For the world’s oil industry, politicians, senior civil servants, journalists, and the world as a whole, Yamani represented and truly symbolized a new era of oil,” author Daniel Yergin wrote in his original book. writing. The “award” of the oil industry. “His face was familiar on earth with large, clear, seemingly non-blinking brown eyes and a cut-out, slightly curved Van Dyck’s beard.”

Yamani became Minister of Petroleum in 1962 and led the ministry until 1986. He played an important role in the early oil cartel OPEC as producers around the world began trying to determine prices for the world market, which was previously dominated by Western economic policies.

Yamani was the first Saudi Arabia representative on the OPEC board of directors in 1961. From his point of view, he imitates what has become known for the gentle bargaining style that Saudi Arabia sought after him, rather than the hysterical with years of turmoil in the wider Middle East.

But that style of oil kingpin, known by the honorific “Shake,” will be tested by times, including the upheaval of the global energy market. This was especially true during the 1973 Middle East War. In this war, Egypt, Syria, and their allies launched a surprise attack on Israel on the Jewish holiday Yom Kippur.

When the United States moved to support Israel under President Richard Nixon, OPEC’s Arab producers agreed to cut their supply by 5% a month. As Nixon continued his support, the decision produced what became known as “oil weapons” — a complete embargo on the United States and other countries.

US prices will rise 40%, leading to petrol shortages and long lines of pumps. Global oil prices have quadrupled, leading to the wealth found throughout the Gulf Arab countries today.

In 1975, Yamani found himself twice at a major moment in history. When King Faisal’s nephew assassinated the monarch in March, he stood just outside the room.

In December, Yamani noticed that he was among the hostaged at OPEC headquarters in Vienna. The attack killed three people and confiscated 11 people. The attack eventually saw the liberation of all pro-Palestinian militants and hostages.

Later, Yamani described Carlos of Venezuela, whose real name is Irich Ramirez Sanchez, as “a ruthless terrorist who works with cold blood and surgical precision.” From that moment on, Yamani traveled with bodyguard aides everywhere he went.

Yamani also oversaw the complete nationalization of Arabian American Oil after the 1973 oil crisis. Today, it is well known as Saudi Arabia Oil Company, or Aramco, the kingdom’s leading employer and main source of income.

In 1986, King Fahd of Saudi Arabia dismissed Yamani in a brief statement issued by the state-owned Saudi Press Agency. At that time, Yamani was believed to have disagreed with the King, claiming that OPEC had built a permanent production quota system and that the kingdom would be given a greater share of the whole. Saudi Arabia finally made another tentative arrangement.

Yamani was born in Mecca in 1930, when camels were still roaming the streets of the sanctuary. His father and grandfather were religious teachers and Islamic lawyers. He eventually studied at New York University and Harvard University. Married twice, he survives with multiple children and grandchildren.

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Long-serving Saudi oil minister Ahmed Zaki Yamani dies at 90 Source link Long-serving Saudi oil minister Ahmed Zaki Yamani dies at 90

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