Ahmed Zaki Yamani

Who is Ahmed Zaki Yamani?

Ahmed Zaki Yamani is a Saudi Arabian politician who was Minister of Oil and Mineral Resources from 1962 to 1986, and a minister in OPEC for 25 years.

With degrees from various institutions including New York University School of Law, Harvard Law School, and a doctorate from the University of Exeter, Yamani became a close adviser to the Saudi government in 1958 and then became oil minister in 1962. He is best known for his role during the 1973 oil embargo, when he spurred OPEC to quadruple the price of crude oil. During that time, Yamani gained a colourful international reputation, known in the West for both diplomatic skills and characteristic goatee.

In December 1975, Yamani and several other OPEC ministers were taken hostage by notorious terrorist Carlos in Vienna, Austria. He was later released after Carlos spent two days riding an airplane across the Middle East even though Carlos was ordered by his superiors to execute Yamani and his Iranian counterpart Dr. Jamshid Amouzegar.

In October 1986, King Fahd dismissed Yamani. He also dismissed Dr. Abdulhady Hassan Taher, who was the founder of Petromin oils and had a major role in the Saudi oil history. The reasons for this include the Saudi government's insistence on setting their own oil policy. Another reason could have been their power, since they were both running the Saudi petroleum industry. In 1990, Yamani founded the Centre for Global Energy Studies, a market analysis group.