OPEC Scribe lauds Nigeria’s contributions to stability in global oil stability

The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Mr. Mohammad Sanusi Barkindo, has lauded Nigeria's contributions…

The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Mr. Mohammad Sanusi Barkindo, has lauded Nigeria’s contributions to the promotion of sustainable stability in the global oil market and its influential role in the OPEC and non-OPEC Declaration of Cooperation (DoC).Speaking at the opening ceremony of the 20th edition of the Nigeria Oil and Gas Conference and Exhibition on Tuesday in Abuja, Barkindo thanked the leadership of Nigeria for its unwavering commitment and continuous support of OPEC over its five-decades of Membership.  

Delivering a keynote address on the theme: ‘Global oil market dynamics in a decarbonizing world’, the OPEC Scribe said: “OPEC is deeply indebted to Muhammadu Buhari, President of Nigeria, for the leading role he has played and continues to play in support of the Declaration of Cooperation process.

“This historic achievement has ushered in a new era in global energy cooperation,” Barkindo stated.

“Over the last five decades, OPEC and Nigeria have sown the seeds of friendship to build a highly fruitful and mutually beneficial relationship, forging strong ties that will last forever,” he said.

In underscoring Nigeria’s contribution to the organization, he noted that over its 50 years of membership, the country has provided OPEC with 23 Heads of Delegation, six of whom served as President of the Conference. Nigeria has also proffered the organization with four Secretaries General.

Barkindo stressed the importance of the event, which he noted, has risen in stature over the years to become a leading industry event. He also recalled the two industry pioneers whose visionary leadership were responsible for its founding – Dr. Rilwanu Lukman of Nigeria and Dr. Alirio Parra of Venezuela.

On the conference’s theme, the Secretary General pointed out that all forms of energy will be required to meet current and future energy demands, and that recent calls for oil and gas industry divestment are irresponsible and unrealistic.

In this context, the Secretary General underlined the key role of innovation, technology and science in the energy industry, which has resulted in cutting-edge solutions such as carbon capture, utilization and storage (CCUS), as well as hydrogen.

“These will be viable options for reducing the global carbon footprint,” he added.

On energy poverty, Barkindo underscored the need to ensure energy access for all around the world as part of a fair, inclusive and equitable energy transition.

The Secretary General stated OPEC’s intention to return to its birthplace in Baghdad, Iraq, in September of this year to celebrate the Organization’s Diamond Anniversary.

According to him, this landmark occasion will celebrate OPEC’s six decades of supporting stability in the global oil market, in the interest of consumers, producers and the global economy.

The OPEC Secretariat takes part in this leading energy event on an annual basis. This year’s edition saw the Secretariat participating through hosting a booth, where the Organization’s history and achievements were presented, along with its flagship publications, the World Oil Outlook, the Annual Statistical Bulletin and the OPEC Bulletin.

Nigeria will mark its 50 years of membership in OPEC on 12 July. For this special occasion, the OPEC Secretariat has produced a special issue of the OPEC Bulletin, which takes a retrospective look at Nigeria’s journey as an OPEC Member from 1971 until today. The Secretariat has also produced a documentary film to mark the occasion.

The four-day oil and gas conference and exhibition will end on Thursday July 8, 2021.

Follow the live information on our channel