Wednesday , 21 February 2018
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OPEC

There is hope for oil market stability – Barkindo

The Secretary General of the Organisation of Petroleum Exporting Countries, HE Mohammad Sanusi Barkindo, has indicated that the oil market will likely continue to record stability. In his keynote address delivered at the Nigeria International Petroleum Summit, 19 February 2018, Abuja, Nigeria, he stated that: ‘’There are further positive signs for the global oil market. Global economic growth is forecast at …

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We need to invest $10.5trn to meet global oil demand – OPEC

It is an absolute privilege for me to address this inaugural edition of the Nigeria International Petroleum Summit (NIPS). As a proud Nigerian, I am delighted to be back in my home country. Thank you to  His Excellency Dr. Emmanuel Ibe Kachikwu, Minister of State for Petroleum Resources, for the kind invitation to speak at this history-making event. It feels …

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Barkindo extols Saudi Arabia’s leadership in OPEC

HE Mohammad Sanusi Barkindo, Secretary General, Organisation of Petroleum Exporting Countries, OPEC, has extoled the leadership roles of Saudi Arabia in OPEC. Speaking at the 8th IEA-IEF-OPEC Symposium on Energy Outlooks, Barkindo stated that: ‘’Allow me first to acknowledge with sincerest gratitude His Royal Highness Prince Abdulaziz bin Salman Al Saud. I would like to thank him and Saudi Arabia’s …

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OPEC daily basket price leaps to $62.09 per barrel

The price of Organisation of Petroleum Exporting Countries, OPEC basket of 14 crudes stood at $62.09 a barrel on Thursday, compared with $60.62 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic …

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Twenty four OPEC and non-OPEC producers made progress in oil cut – Barkindo

HE Mohammad Sanusi Barkindo, OPEC Secretary General, has disclosed that  24 OPEC and non-OPEC participating producers have voluntarily made significant progress in advancing the mandate of the ‘Declaration of Cooperation’. In his remarks at the 8th IEA-IEF-OPEC Symposium on Energy Outlooks, 14 February 2018, Riyadh, Saudi Arabia, Barkindo stated that: ‘’Indeed, we witnessed the dawning of a new age of …

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OPEC basket price drops to $60.62 per barrel

The price of Organisation of Petroleum Exporting Countries, OPEC basket of 14 crudes stood at $60.62 a barrel on Wednesday, compared with $60.52 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic …

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