*Raisi sworn in Thursday as 8th President
By Teddy Nwanunobi
The Organisation of the Petroleum Exporting Countries (OPEC) has congratulated Seyyed Ebrahim Raisi on his victory in the presidential elections in the Islamic Republic of Iran.
In a letter, signed by the OPEC Secretary General, Dr. Mohammad Barkindo, on Monday, June 21, Barkindo expressed confidence that the mandate that the Iranian people have bestowed on you heralds great things for IR Iran, OPEC and the broader international community.
“On behalf of the Organisation of the Petroleum Exporting Countries (OPEC), I would like to extend our congratulations to you on your victory in the presidential elections in the Islamic Republic of Iran. In electing you President, the great Iranian people have recognised your lifetime of patriotic service and dedication to the welfare of your country.
“I have no doubt that the mandate that the Iranian people have bestowed on you heralds great things for IR Iran, OPEC and the broader international community. We cherish IR Iran membership of our Organisation and firmly believe that with your support, wisdom and guidance, our Organisation’s best days lie ahead of it,” Barkindo said.
Barkindo noted that Iran has always held a unique and highly appreciated position in the OPEC family.
“In September of this year, following an invitation by the Iraqi Prime Minister, HE Mustafa Al-Kadhirni, OPEC will celebrate the 60th Anniversary of the founding of our Organisation. This will take place at the site where OPEC was originally established in A1-Shaab Hall in Bab Al-Muadham, Baghdad. IR Iran, as one of our founder members, will have a significant role to play throughout these celebrations. We are currently in the midst of preparing for this event and will ensure that the event reflects the constructive role IR Iran has played in our Organisation’s six decade long history.
“Excellency, the oil market continues to recover from the historic demand contraction that the world experienced in 2020, as a result of the COVID-19 pandemic, which saw lockdowns, a decline in international travel and industry and business shutdowns. As the world economy contracted by 3.5 per cent year-over-year in 2020, global oil demand declined by 9.5 mbpd. During the month of April 2020, oil demand dropped by a staggering 22 mbpd.
“In response to this unprecedented situation, OPEC knew it had to act. At the 9th and 10th (Extraordinary) Meetings of the OPEC and non-OPEC Ministerial Meetings on 9 and 12 April 2020, it was agreed to adjust downwards overall crude oil production by 9.7 mbpd, starting in May and June 2020; from 1 July 2020 to 31 December 2020 by 7.7 mbpd; and from 1 January 2021 to 30 April 2022 by 5.8 mbpd. This is the largest ever production adjustment by DoC participants, the largest in the history of OPEC, and the largest in the history of the oil industry. It is also the longest adjustment in duration in our history,” he said.
He added that OPEC would continue to count on IR Iran’s continued engagement in this noble enterprise.
“Participating countries have subsequently reviewed these decisions on a monthly basis to proactively anticipate market developments and improve the core principles upon which our enterprise was founded, namely, transparency, equity and fairness. As a result of these actions, in recent months, we have seen a return of relative stability in the oil market.
“Despite the positives, it is clear uncertainties remain, such as the continuing high number of COVID-19 cases in some countries and regions of the world; the uneven nature of the global vaccine rollout, particularly when looking at the developed versus the developing world; and the prevalence of virus mutations. There are also a series of uncertainties related to monetary policies and inflationary pressures in many economies throughout the globe.
“In such circumstances, participating countries of the ‘Declaration of Cooperation’ (DoC) need to continually review market conditions, consult with each other regularly and utilise the forums we have established in the OPEC and non-OPEC Ministerial Meetings, to ensure that we reach collective decisions in the interests of all producing countries, consumers and the global economy.
“For this reason, we count on IR Iran’s continued engagement in this noble enterprise. We welcome all contributions from your administration in our pursuit of the mutually beneficial goal of sustainable oil market stability.
“I would like to conclude by underscoring the depth of affection that we feel towards the great Iranian people. The people of your country are respected and admired throughout the world for their rich culture, heritage and tradition.
“Once again, Excellency, our congratulations to you on your electoral success. Please accept, Excellency, assurances of my highest consideration and respect,” the letter read.
Valuechain reports that Raisi won more than 17 million 926 thousand votes (62 per cent of the votes), defeating his three other rivals with a large margin, in the elections held nationwide, and was elected as the eighth president of Iran.
Valuechain also reports that Raisi was sworn in on Thursday at 5:00 pm local time in the parliament.
Raisi was sworn in by the Judiciary chief to remain loyal to the Constitution of the Islamic Republic of Iran.
The president took the oath of office in the presence of the Guardian Council members and the parliamentarians.
The ceremony was accompanied by the signing of a written oath by the president and delivered to the secretary of the Guardian Council.
Some dignitaries also attended the inauguration ceremony.
In addition, 115 officials from 73 countries expectedly attended the inauguration ceremony, including 10 presidents, 20 parliament speakers, 11 foreign ministers, 10 other ministers, and envoys of heads of state, deputy speaker of parliament, parliamentary delegations.
As usual, after the bell rang and the ceremony started, the speaker gave a welcome speech and the head of the Judiciary delivered a speech as well.
The ceremony ended with a speech by Raisi. In the past, it was customary to sign a memorial stamp of the inauguration ceremony and take a photo of the guests present after the ceremony.