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ABU DHABI - Profile - Obaid Bin Saif Al Nasseri.

The UAE's Minister of Petroleum and Mineral Resources, Nasseri tries to co-ordinate petroleum policies among the seven emirates of the federation. But in agreeing to or opposing decisions at OPEC or OAPEC meetings, he actually represents the emirate of Abu Dhabi. On the federal level, he is nominally in charge of the domestic petroleum market. The Dubai-based federal entity Emirates General Petroleum Corp. (EGPC) is under his ministry.

Nasseri is a technocrat from the powerful Abu Dhabi Investment Authority (ADIA). He became oil minister after a federal cabinet reshuffle in late March 1997, succeeding Rakad Bin Salem Bin Rakad who had been acting oil minister since June 1995. Born in June 15, 1952 in Al Ain, Nasseri got a BSc in economics from the University of Baghdad in 1975. He joined ADIA in 1976 as a trainee officer in the Bonds and Equity Department. He became deputy head of that department in 1978. In 1980 he was promoted to deputy director of the Commodities Department. From 1994 to March 1997 he was executive director of the latter department.

Nasseri is a member of the SPC's Consultative Committee. Apart from his ministerial position, he is chairman of the Abu Dhabi Islamic Bank, deputy chairman of the Emirates Banks Association, board member of the National Bank of Abu Dhabi and chairman of the Abu Dhabi Hotels & Tourism Corp. Previously, he was a member of the boards of Bahrain-based Arab Banking Corp., Madrid-based Banco Atlantico, Abu Dhabi's International Petroleum Investment Co. (IPIC), and Cairo-based Arab International Bank. He was also deputy chairman of ADIA's offshoot, Abu Dhabi Investment Co., and a member of the Abu Dhabi National Consultative Council.
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Publication:APS Review Oil Market Trends
Geographic Code:7UNIT
Date:Jan 27, 2003
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