Friday , 27 April 2018

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

HE Mohammad Sanusi Barkindo, OPEC Secretary General

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 collaboration, as 24 OPEC and non-OPEC participating producers voluntarily made significant progress in advancing the mandate of the ‘Declaration of Cooperation’, bringing us, step-by-step, closer to our common goal of the return of a  balanced, stable and healthy oil market in the interest of the global economy.

‘’Our success last year would not have been possible without the extraordinary efforts and dedicated leadership of HE Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources. In his capacity as President, he was instrumental in ensuring that these noble efforts remained on track throughout the year. His vast industry experience and wisdom were extremely effective during the many high-level meetings and shuttle diplomacy he conducted on behalf of this process.

‘’The ‘Declaration of Cooperation’ will continue to benefit from his expertise and vision in the months ahead, with HE Al-Falih now serving as Chairman of the Joint Ministerial Monitoring Committee, the JMMC, in 2018. I am also extremely pleased to see HE Alexander Novak, Minister of Energy of the Russian Federation here today. In his role as Alternate Chairman of the JMMC, and the driving force behind non-OPEC participation, HE Novak has been a leading light to the success of the ‘Declaration of Cooperation’.

‘’HE Al-Falih and HE Novak are our apostles to the value of cooperation. They have proven to be the key strong pillars on which the historic OPEC and non-OPEC cooperation has been built.

He also added that: ‘’There is no doubt that the participation of these two great industry icons today will lift the Symposium to another enviable level. In this regard, may I congratulate the IEF and our chief host – my twin brother – HE Sun Xiansheng, Secretary General of the International Energy Forum. His energy, commitment and positivity towards the work of the IEF, as well as his promotion and advocacy of its values, are evident to all. In a very short span of time, you have transformed the face of the IEF.’’

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