✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Alirio Parra, who helped found OPEC, dies aged 90

Published 09/03/2018, 18:47
Updated 09/03/2018, 18:50
© Reuters. FILE PHOTO - Alirio Parra, board member of CWC Group speaks at the opening of Nigeria Oil & Gas 2014 conference in Abuja

LONDON (Reuters) - Alirio Parra, a Venezuelan oil official who helped found the Organization of the Petroleum Exporting Countries and remained influential at its meetings, has died, aged 90.

Parra, as an assistant to Venezuela's then energy minister, attended the meeting in Baghdad in 1960 of officials from Venezuela, Saudi Arabia, Kuwait, Iran and Iraq in Baghdad that formed the now Vienna-based OPEC.

OPEC Secretary General Mohammad Barkindo paid tribute to "one of the great men of the industry" in a draft OPEC statement seen by Reuters.

Parra served as Venezuela's minister of energy and mines from 1992 to 1994 and head of its OPEC delegation, and also held the OPEC presidency. He was a board member of Venezuela's state oil company PDVSA.

In later years, he played an influential, unofficial role at the exporter group's meetings to set oil policy, sometimes helping the fractious group to reach agreement, sources said.

"He would always go to Vienna for the meetings," an industry source who knew Parra said. "He did not go to the OPEC Secretariat but people would come and see him. He was quietly influential."

He attended the vast majority of OPEC's 173 meetings since 1960 in various capacities, since 1997 as a member of the board of CWC Associates, an energy conference organiser.

© Reuters. FILE PHOTO - Alirio Parra, board member of CWC Group speaks at the opening of Nigeria Oil & Gas 2014 conference in Abuja

"He was not only instrumental in founding OPEC but continued to be associated with the organization throughout his eventful life," an OPEC source said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.