Ahmed Zaki Yamani facts for kids
Quick facts for kids
Ahmed Zaki Yamani
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أحمد زكي يماني
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Yamani (left), with Ali Akbar Abdolrashidi, 2004
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| Minister of Petroleum and Mineral Resources | |
| In office 9 March 1962 – 5 October 1986 |
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| Preceded by | Abdullah Tariki |
| Succeeded by | Hisham Nazer |
| Personal details | |
| Born | 30 June 1930 Mecca, Saudi Arabia |
| Died | 23 February 2021 (aged 90) London, United Kingdom |
| Alma mater | Cairo University New York University Harvard Law School University of Exeter |
Ahmed Zaki Yamani (Arabic: أحمد زكي يماني; 30 June 1930 – 23 February 2021) was an important Saudi Arabian politician. He served as the Minister of Petroleum and Mineral Resources for Saudi Arabia for 24 years, from 1962 to 1986. He worked under four different Saudi kings.
Yamani was also a key minister for the Organization of the Petroleum Exporting Countries (OPEC) for 25 years. He studied at top universities like New York University School of Law and Harvard Law School. He became a trusted advisor to the Saudi government in 1958.
He is famous for his role during the 1973 oil embargo. During this time, he helped OPEC make a big decision to greatly increase the price of crude oil. In 1975, he and other OPEC ministers were taken hostage by a terrorist known as Carlos the Jackal. They were released safely after two days.
Yamani left his role as oil minister in 1986. Later, he started the Centre for Global Energy Studies in 1990. This group studies the energy market. He also worked on private investments and cultural foundations.
Contents
Early Life and Education
Ahmed Zaki Yamani was born in Mecca, Saudi Arabia, on 30 June 1930. He was the youngest of three children. His father, Hassan Yamani, was a respected scholar of Islamic law. He even served as a Grand Mufti in Indonesia and Malaysia. Yamani's mother, Fatima Suruji, was a poet.
His family had a history of scholarship. His grandfather was a Grand Mufti in Turkey. The family name "Yamani" comes from Yemen, where his ancestors were from.
Yamani earned his first law degree from King Fouad I University in Cairo in 1951. The Saudi government then sent him to New York University for further studies. In 1955, he received a master's degree there. The next year, he earned a second master's degree from Harvard Law School in 1956.
Career in Government
After his studies, Yamani returned to Saudi Arabia. He joined the Ministry of Finance. In 1959, Prince Faisal, who was then the Crown Prince, asked Yamani to be his legal advisor.
In March 1962, Ahmed Zaki Yamani became the Minister of Petroleum and Mineral Resources. He replaced Abdullah Tariki, who was one of the founders of OPEC.
In 1962, the General Petroleum and Mineral Organization (Petromin) was created. This was meant to be the national oil company of Saudi Arabia. Two years later, the University of Petroleum and Minerals was started. Its goal was to train Saudis to manage the oil industry.
Over time, Saudi Arabia gained more control over its oil. In 1972, the government bought 25% of Aramco, a major oil company. By 1976, Saudi Arabia had full ownership of Aramco.
As oil minister, Yamani played a big role in OPEC. After the 1967 Oil Embargo, he helped create the Organization of Arab Petroleum Exporting Countries (OAPEC). This group included Saudi Arabia, Kuwait, and Libya.
The 1973 Oil Crisis
During the Yom Kippur War in 1973, Yamani took action. He suggested that OPEC members reduce oil production. On 16 October, OPEC countries in the Persian Gulf decided to raise oil prices. They increased the price from $3 to $5.12 per barrel. This was the first time oil-producing countries set their own prices.
The next day, OAPEC members agreed to cut oil production. They also recommended an oil embargo against countries seen as "hostile." By 22 October, OAPEC countries had placed an embargo on the United States, the Netherlands, and Denmark.
These production cuts affected Western countries' economies. Yamani traveled to Europe, the United States, and Japan. He explained the situation with the Algerian oil minister. Yamani became very well known in the West.
On 22 December, OPEC members met in Tehran. The Shah of Iran wanted to raise oil prices to over $20 a barrel. Yamani thought this was too much. He worked out a compromise. The price was set at $11.65, which was still four times higher than before. The embargo was officially lifted on 17 March 1974.
Saudi Arabia continued to push for lower oil prices. Yamani believed this was better for the world economy. He famously said in 1973: "The Stone Age didn't end because we ran out of stones." This quote suggests that new energy sources will always be found.
Hostage Situation in 1975
On 21 December 1975, Yamani and other OPEC oil ministers were taken hostage. This happened during their meeting in Vienna, Austria. A group led by the terrorist Carlos the Jackal carried out the attack. Three people who were not ministers were killed.
Carlos planned to hold the ministers for ransom. He intended to execute Yamani and Iran's minister, Jamshid Amuzegar. The hostages were taken on a plane across North Africa.
During the journey, many hostages were released. Eventually, only 10 remained. The Algerian President, Houari Boumédienne, told Carlos that killing the ministers would lead to an attack on the plane. Carlos eventually released all the hostages. The crisis ended two days after it began.
Later, it was revealed that the operation was led by Wadie Haddad. Some believed that Muammar al-Gaddafi of Libya provided the funding. Carlos claimed that Saudi Arabia paid a ransom, but the money was "lost."
Later Oil Policy and Dismissal
Yamani continued to be a key figure in OPEC. Saudi Arabia often pushed for stable or lower oil prices. This was sometimes different from what other OPEC members wanted.
In 1979, the Iranian Revolution caused another oil crisis. Saudi Arabia increased its production to help. Yamani stated that Saudi Arabia would work to reduce oil prices.
In the early 1980s, there was a lot of oil on the market. This led to lower oil prices and less income for Saudi Arabia. On 13 June 1982, King Khalid died. Crown Prince Fahd became King.
King Fahd wanted to increase Saudi Arabia's oil quota and set the price at $18. Yamani disagreed with this plan. On 29 October 1986, it was announced that Yamani had been dismissed from his role. Hisham Nazer replaced him.
Other Activities
In July 1982, Yamani helped start Investcorp. This was a private equity firm. It invested in companies like Tiffany & Co. and Breguet watches. Yamani himself was a watch collector.
In 1988, Yamani created the Al-Furqan Islamic Heritage Foundation. This foundation works to protect and publish important Islamic historical works. In 1990, he founded the Centre for Global Energy Studies in London. This group provides information on energy issues.
Personal Life
Yamani married his first wife, Laila Sulaiman Faidhi, in 1955. They had three children: Mai, Maha, and Hani. His daughter, Mai Yamani, is now an author and scholar.
Yamani married his second wife, Tamam al Anbar, in 1975. They had five children together: Faisal, Sharaf, Sarah, Arwa, and Ahmed.
Yamani could speak Arabic, English, and French fluently. He died of heart failure on 22 February 2021 in London, at the age of 90. He was later buried in his hometown of Mecca.
See also
In Spanish: Ahmed Zaki Yamani para niños
- The Prize: The Epic Quest for Oil, Money, and Power
