Secretary-General of OPEC Mohammad Sanusi Barkindo, on Tuesday, played host to a delegation from the Nigerian National Petroleum Corporation (NNPC) at the organisation’s Headquarters in Vienna, Austria.
NNPC’s delegation was led by Dr. Billy Okoye, Group Executive Director of Ventures and Business Development on behalf of Mele Kyari, Nigeria’s National Representative to OPEC and NNPC’s Group Managing Director.
Dr. Okoye extended his sincere congratulations to Barkindo on his achievements for being OPEC’s Secretary-General for two successful terms.
“We are very proud of your leadership,” he stated, adding that Barkindo has been an ambassador of cooperation and ambassador of Nigeria.
Dr. Okoye also congratulated the Secretary-General on the instrumental role he played in the formation of the historic Declaration of Cooperation (DoC) between OPEC member countries and non-OPEC oil-producing countries.
“Secretary-General, you stood up to unprecedented challenges and you continue to do so,” Dr. Okoye stated.
The Secretary-General highlighted Nigeria’s key role in the global oil industry, emphasising that given the country’s stature, it should continue to lead by example. He also praised the Petroleum Industry Act (PIA), noting that the legal framework adopted in 2021 will help Nigeria to further develop its national petroleum industry.
On oil market developments, Barkindo praised the efforts undertaken by the DoC countries in the interest of oil market stability. He noted that the DoC was established in 2016 to accelerate the return of oil market stability following an oil market downturn, adding that the framework continued to prove effective when the COVID-19 pandemic began in 2020.
“These countries did not need to reinvent the wheel,” he stated, adding, “They stepped up to the challenge and adopted the largest-in-volume and longest-in duration production adjustments.”
In this context, Barkindo noted the recent positive rebounds in the global economy and world oil demand.
Referencing OPEC’s World Oil Outlook 2021, the Secretary-General noted that oil and gas will be accountable for more than 50 percent of the future energy mix, highlighting that oil undoubtedly will be needed to address energy demand in the future.
The meeting also addressed a number of important issues relevant to energy, including sustainable development, climate change and the importance of investment in securing future supplies to meet energy demand.
