Ahmed Zaki Yamani, Former Saudi Oil Minister, Dies at 90
The powerful oil minister of Saudi Arabia and the architect of the Arab world drive Ahmed Zaki Yamani to control his own energy resources in the 1970s and the ability to influence oil production, fuel prices and international affairs thereafter. Died in London. He was in the 90s.
His death was announced on Tuesday by Saudi state television.
In an era of turbulent energy politics, Mr. Yami, a Harvard-trained lawyer, spoke on the world stage for Arab oil producers in the form of Arab-Israeli wars, revolution in Iran and growing pains. The world’s demand for oil brought Saudi Arabia and other Persian Gulf governments under unimaginable wealth. He met government leaders, went on television and became widely known, crossing Europe, Asia and America to promote Arab oil interests. In flowing Arabian rubes or Saville Row suits, speaking English or French, He teased cultures, Love European classical music and write Arabic poetry.
Mr. Yamani generally strived for price stability and orderly markets, but he is best known for 1973 oil-engineering, which was driven by global prices, gasoline shortages and freedom from small cars, renewable energy sources, and Arab oil Prompted the discovery of.
As Saudi’s oil minister from 1962 to 1986, Mr. Yami was the most powerful mango in a state that had some of the largest oil reserves in the world. For nearly 25 years, he was the chief officer of the Organization of Petroleum Exporting Countries, whose rising and falling production quotas began to wave like tides in markets around the world.
In 1972, Mr. Yamani moved from Aramco, the consortium of four American oil companies, to wrestle control over the reserves of giant Gulf Oil, which had long exploited them. While Arab leaders called for the nationalization of Aramco – an acquisition that may have cost American technical and marketing expertise, as well as capital – Mr. Yami adopted a more liberal strategy.
Under the historic “partnership” agreement made by Mr. Yami, Saudi Arabia immediately acquired the rights to acquire 25 percent of the foreign concessions and gradually win the interest that controlled its bets. Meanwhile, Aramco continued its concessions, profiting from oil extraction, refining and marketing, although it had to pay a higher fee to the Saudi government.
The deal flowed into the oil-dependent industrial world and gave Arab oil producers time to develop their technical and marketing expertise. These developments eventually brought widespread prosperity in the Gulf states and a great shift of economic and political power in the region.
In 1973, after Israel and Syria were defeated in the Yom Kippur War and Arab leaders called for the use of oil as a political weapon, Mr. Yemeni withdrew support for Israel and Israel in the United States and others Took an avatar to pressure the allies. To withdraw from occupied Arab lands. Embargo sent shock waves around the world, creating a rift in the North Atlantic Alliance and tilting Japan and other countries towards the Arabs.
But the United States held the line. President Richard M. Nixon produced an energy cigar. Gasoline rationing and price controls imposed. There were long lines and occasional fights at the pump. While inflation persisted for years, there was a renewed emphasis on energy exploration and conservation, including a national 55 mph speed limit on highways for a time.
A tall man with thoughtful eyes and a Van Dyke gotte, Mr. Yamani struck Westerners as kind, clever and ascetic.
“An American oil executive told The New York Times,” he speaks slowly and never climbs to the table. “When the discussion heats up, he becomes more patient. In the end, he seems to have sweet rationality, but a kind of ruthlessness.
In 1975, Mr. Yami brushed off the violence with two. His mentor, King Faisal, was murdered by a royal nephew in Riyadh. Nine months later, he and other OPEC ministers were held hostage by terrorists led by Ilich Ramirez Sanchez, also known as Carlos the Jackal.
For the years following Embargo, Mr. Yamani struggled to rein in oil prices, believing that for a long time the Saudi interest was to prolong global dependence on cheap oil. But the coup of Iran’s Shah in the Islamic Revolution of 1979 touched an energy crisis. Iranian production declined, prices rose, panic ensued that purchases increased, OPEC shares rose and the market flooded and prices fell again.
In 1986, after prolonged oil flashes and disagreements between quotas and prices between Mr. Yemeni and the royal family, King Fahd sacked the oil minister, Ending his 24 years as Saudi Arabia’s most famous non-military.
Ahmed Zaki Yamani was born on 30 June 1930 in Mecca, one of the three children of Islamic law judge Hassan Yami, in the holy city of Islam, Mecca. The surname originated in Yemen, the land of its foreboding. The boy was deeply religious, getting up early to pray before school. Sent abroad for higher education, he earned a degree in 1951 from King Fuad I University in Cairo. New York University in 1955 and Harvard Law School in 1956.
That and Laila Suleman Fadi was married in 1955 and had three children. His second wife was Tamam al-Anbar; They were married in 1975 and had five children.
In 1958, the royal family enlisted him to advise Crown Prince Faisal, and he rose rapidly. In one year, he was Minister of State without portfolio and in 1962 as Minister of Oil. In 1963, Mr. Yami and Aramco jointly set up a Saudi College of Petroleum and Minerals to teach oil industry expertise to Arab students.
Following his dismissal as oil minister, Mr. Yami became an advisor, entrepreneur and investor, and settled in Crans-sur-Sire, Switzerland. In 1982, he joined other financiers in Investcorp, a Bahrain-based private equity firm. In 1990, he founded the Center for Global Energy Research, a London market analysis group. A biography of Jeffrey Robinson, “Yemeni: The Inside Story” was published in 1989.
Ben hubbard Contributed to reporting.