The oil & gas consultancy founded in London by Saudi Arabia’s former oil minister Sheikh Ahmed Zaki Yamani is to shut next month after 24 years.
The Centre for Global Energy Studies will close on March 31, it said in a statement on Wednesday.
Yamani, the Saudi Arabian oil minister from 1962 to 1986, founded the CGES in 1990. It provides analysis and consultancy on oil and gas, including price forecasts.
Now 83, Yamani’s period as Saudi minister included the 1973 Arab oil embargo. He was also among those kidnapped at a meeting of OPEC in Vienna in 1975 by criminal Carlos the Jackal.
Staff at the CGES are understood to be looking for other jobs in the industry.
