The new board of directors of Rosneft includes the former energy minister of Qatar and the former head of the Indian state-owned company Indian Oil
On Friday, the annual meeting of shareholders of Russia's largest oil company Rosneft was held, during which a new board of directors was elected. It included 11 people, moreover, three of them took office for the first time.
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Their seats on the Board of Directors of Rosneft have been retained by the company's Chief Executive Officer Igor Sechin, President for Research and Development of the Qatar Foundation Faizal Alsuwaidi, as well as the representative of the Qatari sovereign fund QIA Hamad Rashid Al Mohannadi, Deputy Prime Minister of the Russian Federation Alexander Novak, Assistant to the President of the Russian Federation Maxim Oreshkin, Chairman of the Board of Gazprombank Andrey Akimov, Director of the Moscow School of Economics of Moscow State University, Academician of the Russian Academy of Sciences Alexander Nekipelov, as well as the head of Oil & Petroleum International Resources Pedro Aquino Jr.
Muhammed was among the new managers of the oil giant Bin Saleh Al-Sada, who was also elected Chairman of the Board of Directors of Rosneft.
Al-Sada has 40 years of experience in the energy sector. In the past, Al-Sada served as Minister of State for Energy and Industry of Qatar, and from 2011 to 2018 — Minister of Energy and Industry of Qatar, Chairman of the Board of Qatar Petroleum (now QatarEnergy). He also chaired the boards of directors and governing bodies of a number of subsidiaries of Qatar Petroleum — in almost all areas of activity (from trading and LNG production to electricity and renewable energy).
At the moment, Al-Sada is the Chairman of the Board of Trustees of the Doha University of Science and Technology.
According to Leonid Krutakov, Associate Professor at the Financial University under the Government of the Russian Federation, Mohammed bin Saleh Al-Sada is an iconic figure not only for the Middle East energy, but and for the whole world. While Al-Sada was Qatar's Energy Minister, he was actively involved in the formation of the OPEC+ alliance.
“It was under the chairmanship of Al-Sad (he was the president of OPEC for a year) that the first deal to reduce production in the OPEC+ format was concluded in 2016. He has been involved in all major key processes in the oil and gas industry over the past decade,” Krutakov noted.
Govind Kottis Satish, Managing Director of Indian Value Prolific Consulting Services Pvt Ltd (ValPro ). This company provides consulting services and organizes technological solutions for IT businesses.
Meanwhile, Satish has almost 40 years of experience in leading positions in the Indian state company Indian Oil. He is considered to have made a tangible contribution to the development of one of the largest oil and gas companies in India.
“The entry into the Board of Directors of Govind Kottis Satish confirms the strategic importance of India for Rosneft. He became the first representative of this country to join the council. I think that with his arrival at Rosneft, the company's ties with partners from India will only be strengthened,” commented Krutakov.
The third new member of the board of directors was the rector of the I.M. Gubkin Viktor Martynov. He has headed one of the leading industry universities for more than 15 years, and is the author of more than 100 scientific and methodological works.
Krutakov believes that the new appointments indicate that even despite the enormous sanctions pressure and restrictions imposed, Rosneft continues to be a global major and an undoubted authority on the world market.