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OPEC Hails Progress as It Marks 60th Anniversary

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By Adedapo Adesanya

The iconic Organization of Petroleum Exporting Countries (OPEC) is marking its 60th anniversary today, Monday September 14, 2020.

In a statement, OPEC said the diamond anniversary is a time to reflect and appreciate the efforts of all those who have worked very hard throughout its history to make OPEC the resounding success it has become.

This, it said, includes generations of Heads of State and Government, Ministers, Governors and other high-level experts from outside the Secretariat and, from within the Secretariat, Secretary Generals, Management and Staff of every relevant discipline.

It noted, “They have all enriched the organization, through commitment, perseverance, and sacrifice, to cope with the many ups and downs experienced by OPEC and its member countries”.

“It is also an opportunity to, once again, extend the organization’s gratitude to Austria and the city of Vienna, which has been warm and generous hosts to the secretariat since OPEC moved to this grand, historic city 55 years ago”.

To further celebrate the 60th anniversary, Iraq, the city of Baghdad and the Al-Shaab Hall plan to hold events, including music and cultural activities, albeit this is dependent on the COVID-19 pandemic, OPEC said as it promised to provide more details once available.

“Looking ahead, the organization stands ready to meet the many challenges we shall face as we enter the next 60 years of our history.

“We remain focused on a balanced and stable oil market, in the interests of both producers and consumers, as most recently exhibited through the declaration of cooperation and the historic production adjustments of 2020; further elevating dialogue and cooperation through the charter of cooperation; and providing options and solutions to some of the major challenges facing humankind, such as sustainable development and energy poverty alleviation”.

Reflecting on this, OPEC Secretary-General, Mr Mohammad Sanusi Barkindo said: “I often think back to that day in 1960, the mood in Baghdad, how those visionaries envisaged the future of OPEC and the oil industry.

“What is clear is that what was set in motion has stood the test of time; OPEC still has the same core objectives, of order and stability in global oil markets, but its role has also broadened considerably, in terms of deeper cooperation with other producers, dialogue with a host of industry stakeholders, and an embrace of human concerns such as sustainable development, the environment, and energy poverty eradication.”

Explaining further, the statement said few would have foreseen six decades ago that the cartel would have risen to the heights it has today in the global energy arena.

“Back then in Baghdad, the five founding fathers of OPEC, Juan Pablo Pérez Alfonzo of Venezuela; Abdullah al-Tariki of Saudi Arabia; Dr Tala’at al-Shaibani of Iraq; Dr Fuad Rouhani of Iran; and Ahmed Sayed Omar of Kuwait gathered together in the Al-Shaab Hall in Baghdad, to midwife OPEC into the world”.

“In the context of that time, when the oil industry was dominated by the major oil companies, which was reflected in its structure and behaviour, it was a heroic and pioneering act by the founder members to come together in the Iraqi capital”

“The seminal ‘Baghdad Conference’, saw these five visionaries from the founder member countries gather together around the premise of cooperation and with the need to write their own story. Pérez Alfonzo said after the meeting: “We are now united. We are making history.” It would prove to be a profound statement”.

In the 1960s, OPEC established itself with courage, persistence, and diligence, through the development of its statute that remains in place today, registered at the United Nations, UN Secretariat on 6 November 1962 under UN Resolution Number 6363, initiated a number of landmark decisions, such as the ‘Declaratory Statement of Petroleum Policy in Member Countries’ in 1968 and expanded its membership.

Sixty years on, the organization that is today 13 member countries is now an integral part of the international energy community and the multilateral system.

“It is widely consulted on oil industry affairs, remains firmly committed to secure and steady supplies and fair returns to investors, member countries run their own domestic oil sectors across the entire value chain and the organization has expanded its activities to champion issues affecting mankind as a whole”.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Tether Forays into Sustainable Infrastructure With 70% Stake in Adecoagro

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By Modupe Gbadeyanka

To cement its strategic expansion into sustainable infrastructure, a global technology company, Tether Investments, has acquired a 70 per cent equity stake in a leading sustainable production company in South America, Adecoagro.

The majority acquisition builds on an initial investment into the company, marking a decisive step in Tether’s long-term strategy to become a key player in global, real-world infrastructure.

With majority ownership secured, Tether is now in a position to accelerate Adecoagro’s growth and align its board and operations with a forward-looking vision focused on renewable energy, efficient resource use, and regional development.

Recall that in September 2024, Tether bought a 9.8 per cent stake in Adecoagro for about $100 million in a bid to expand beyond digital finance and into real-world infrastructure, including energy, agriculture, data, and communications.

The move was part of Tether’s growing focus on leveraging its capital and technological expertise to invest in businesses that support economic freedom and long-term resilience in emerging markets.

“Our acquisition of Adecoagro reflects Tether’s commitment to advancing sustainable, real-world infrastructure in regions where investment has historically been limited.

“By aligning with in Adecoagro’s proven expertise in agriculture and renewable energy, we are taking another concrete step toward bridging traditional industries with the future of decentralized finance and economic empowerment,” the chief executive of Tether, Mr Paolo Ardoino, said.

Also, the chief executive of Adecoagro, Mariano Bosch, said, “Tether’s investment marks a turning point for Adecoagro.

“Their commitment to building sustainable infrastructure complements our mission and opens exciting new possibilities. I thank our departing Board members for their steadfast contributions and warmly welcome the incoming directors, whose experience will help propel us forward.”

With this latest deal, Tether has changed the board of Adecoagro, with Mr Juan Sartor appointed as the new chairman.

He said, “This partnership with Tether brings a new era of opportunity for Adecoagro. We look forward to scaling the company’s impact in sustainable agriculture and energy, reinforcing capital discipline, and unlocking long-term value across South America.”

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Results of the IV Forum Russia-Africa: What’s Next?

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By Kestér Kenn Klomegâh

“The Fourth Forum “Russia-Africa: What’s Next?”, which took place from April 22 at MGIMO University of the Russian Foreign Ministry, concluded on April 25, 2025. The event confirmed its status as an authoritative platform for discussing key areas of cooperation between Russia and the countries of the African continent. This year, the Forum brought together 1,500 participants, including representatives of 41 African countries.

The business program included more than 30 events, including expert and panel discussions, round tables, creative brainstorms and other interactive sessions devoted to education, sports and space diplomacy, energy partnership, scientific cooperation, humanitarian interaction and information security. The Forum also included sessions organized jointly with the Center for Global and Strategic Studies and the Council of Young Scientists of the Institute of Africa of the Russian Academy of Sciences, the OIE Laboratory of the Institute of Europe of the Russian Academy of Sciences, the I.S. Turgenev, as well as the MGIMO Law Club.

Participants had the opportunity to exchange opinions and develop new approaches to developing relations between Russia and Africa. Particular attention was paid to the sports and cultural program, which allowed participants to immerse themselves in the atmosphere of the African continent and experience its diversity and color.

On the first day of the Forum, the II Russian-African Spartakiad was held, which included sports competitions in football, volleyball, and basketball. Dozens of heads of African diplomatic missions accredited in Moscow, as well as representatives of various Russian ministries and departments, attended the grand opening of the IV Forum “Russia-Africa: What’s Next?”.

The ceremony was hosted by I.V. Tkachenko, Attaché of the Department of African States (sub-Saharan Africa) of the Russian Ministry of Foreign Affairs, Executive Secretary of the Forum’s Program Committee. Russian Foreign Minister S.V. Lavrov addressed the participants with a video message. Advisor to the President of the Russian Federation A.A. Kobyakov also delivered a welcoming speech. Among the honored guests were MGIMO Rector, Academician of the Russian Academy of Sciences A.V. Torkunov, Deputy Minister of Foreign Affairs of the Russian Federation M.L. Bogdanov, Russian Senator, member of the Federation Council Group for Cooperation with African Parliaments A.V. Voloshin, Chairman of the State Duma Committee on International Affairs L.E. Slutsky, Honorary President of the Institute of African Studies of the Russian Academy of Sciences A.M. Vasiliev, Deputy Director General of ITAR-TASS M.V. Petrov, Head of the Department for Work with Government Agencies and Diplomatic Missions of African Countries, Consultant on Interaction with Africa Jose Fernando Sambo, as well as Chairman of the Council of Young Diplomats of the Russian Foreign Ministry E.M. Akopyan.

During his speech, Igor Tkachenko, together with MGIMO Rector A.V. Torkunov and Deputy Minister of Foreign Affairs of the Russian Federation M.L. Bogdanov, put forward the initiative to organize a Youth Day as part of the upcoming Russia-Africa summit in 2026. This proposal, aimed at strengthening intercultural dialogue and developing youth cooperation between the countries, received the support of the event participants.

Vice-Rector for Youth Policy, Social Work and International Relations Stanislav Igorevich. In his speech, Surovtsev emphasized that one of MGIMO’s main priorities is training new generation leaders who are ready to participate in implementing large-scale cooperation projects with African countries in all areas.

Stanislav Igorevich also noted that MGIMO traditionally acts in the forefront of educational partnership with Africa, relying on the rich traditions that were laid down in Soviet times and have survived to this day. Leading Russian and foreign experts took part in the Forum, including Director of the Department of Partnership with Africa of the Russian Foreign Ministry T.E. Dovgalenko, Deputy Director of the Department of International Organizations of the Russian Foreign Ministry V.E. Sergeev, Ambassador-at-Large of the Russian Foreign Ministry S.S. Belousko, State Duma deputies N.V. Novichkov, D.V. Kuznetsov, I.A. Filatova, representatives of major news agencies, as well as business and scientific circles.

The headliners of the Forum were the consultant on interaction with Africa Jose Fernando Sambu, the executive chairman of the African Youth Commission Marubini Muswede and the CEO of StudEx Group Tumelo Ramaphosa. The following exhibitions were presented on the sidelines of the IV Forum “Russia-Africa: What’s Next?”: “Africa: Past and Present…”, “Chroniclers of History”, and “Explore Uganda”, organized jointly with the Moscow Financial and Law Academy, the magazine “New Regions” and the Embassy of the Republic of Uganda, respectively.

The grand opening of the exhibitions took place on April 23 with the participation of the Rector of the Moscow Financial and Law Academy A.G. Zabelin, the Vice-Rector of MGIMO S.I. Surovtsev, the Deputy Executive Secretary of the Forum’s Program Committee, MGIMO analyst V.V. Zhuchkov and the Chairman of the Student Secretariat of the Forum V.G. Avetisyan.

The final event of the Forum was the Russian-African concert, which brought together talented performers from Russia and African countries on one stage. The cultural program included a variety of musical and dance numbers reflecting the rich heritage, culture and traditions of both regions.

Following the IV Forum, a number of fundamental documents were signed, including agreements on cooperation in the field of education and science with the Africa House organization and the Madagascar-Russia Brotherhood Association.

During the closing ceremony, consultant on interaction with Africa José Fernando Sambou, executive chairman of the African Youth Commission Marubini Muswede, as well as attaché of the Department of African States (Sub-Saharan Africa) I.V. Tkachenko and deputy executive secretary of the Forum’s Program Committee, MGIMO analyst V.V. Zhuchkov signed the final resolution of the Forum.

The partners of the event were the Russian Ministry of Foreign Affairs, Rossotrudnichestvo, the Roscongress Foundation, the Directorate of the World Youth Festival, as well as CMR Bank, Priority 2030 and the MGIMO Endowment. The general information partner was TASS, media coverage was also provided by Russia Today and the African Initiative. IV Forum “Russia-Africa: What’s Next?” became a confirmation of the mutual interest of the parties in developing cooperation and identified promising areas for further joint work.

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A7 African Cargo Lines Connecting West Africa With Russia

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A7 African Cargo Lines

By Kestér Kenn Klomegâh

Today, boosted by the Kremlin’s diplomatic push and support from the Ministry of Foreign Affairs’ Department of Partnership, Russian companies are moving with multitude of development projects and corporate entrepreneurial investments into Africa. St. Petersburg summit has also charted the roadmap cum well-designed strategies for boosting the entire bilateral economic cooperation with the continent whose endowed resources include the huge human capital.

The geography of Russia-African economic cooperation is steadily expanding. As previously reported, the Russian Industry and Trade Ministry, since the beginning of 2025, approximately 150 Russian companies have moved into Africa. And with Africa, ready to engage in priority partnerships, the Russian registered company called A7 African Cargo Lines LLC (A7 ACL, Moscow) has started its logistics and shipping services to West Africa. According to the Unified State Register of Legal Entities, A7 African Cargo Lines LLC (A7 ACL, Moscow), was registered on April 17, and has its primary activity listed as railway freight transportation.

“We intend to operate in West Africa,” the Board Chairman Andrei Severilov, told Interfax regarding the company’s establishment. “At the first stage, with the assistance of the Russian trade mission in Nigeria, we are implementing a project to establish a direct shipping line,” Severilov said. According to the news report, the launch of a maritime route between Novorossiysk and Nigeria’s port of Lagos is planned for mid-June, with two container ships chartered for the line’s inauguration, each with a capacity of 700 twenty-foot equivalent units (TEU). Future plans also include establishing maritime connections with Senegal (Dakar port).

Severilov previously owned a 23.8% stake in PJSC Far Eastern Shipping Company (FESCO, the parent company of FESCO Transportation Group). In September 2024, Severilov announced his intention to re-enter the transportation business and established the asset management company A7 African Cargo Lines LLC (A7 ACL, Moscow), with a focus on Africa and primarily targeting to get substantive returns, in terms of, profits. It’s unique decision to take up logistics connecting Africa’s transport market is poised for significant trade growth, by transporting goods across the region and for exports to Europe.

By building a new shipping line that would connect the West Africa, first through Nigeria promises raising trade. Nigeria is Africa’s most populous nation and its largest economy. Nigeria is a key member of the African Continental Free Trade Area (AfCFTA), which is fostering intra-African trade and economic integration. In addition to above factors, Russian companies are showing increased interest in Nigeria, for example in reviving the countries largest steel plant. There is also interest in investing in Nigeria’s energy sector.

Undoubtedly, establishing A7 African Cargo Lines LLC (A7 ACL, Moscow) could be an explicit opportunity for promoting trade by its logistics infrastructure. Reports indicate that Russia’s exports to Nigeria currently amount to about $1.51 billion, mainly consisting of refined petroleum, wheat, and malt, while Nigeria exports a small amount to Russia, primarily cut flowers, other oily seeds, and nuts.

Further to that, the overall Africa’s trade statistics at the end 2024, soared to a record of $24.5 billion from the previous figure, approximate $20 billion that came up during the special panel discussions in 2023 when the second Russia-Africa summit was held in St. Petersburg, the second largest city in the Russian Federation.

By the next Russia-Africa summit slated for 2026, with high anticipation of more Russian enterprises dominating the African landscape, in spite of the existing complexities and challenges would extend or broaden the sphere of economic influence in the context of geopolitical power shifts being capitulated by the Western powers and President Donald Trump of the United States.

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