DoC
OPEC commits to stable global oil market
The Organisation of Petroleum Exporting Countries and non-OPEC ministerial meeting has reaffirmed its commitment to a stable global market in the mutual interest of producing countries. The meeting gave the assurance at the end of its virtual 17th OPEC and non-OPEC ministerial meeting on Tuesday. “In view of current oil market fundamentals and the consensus on its outlook, the meeting reaffirmed the existing commitment of the participating countries in the Declaration of Cooperation (DoC) to a stable market in the mutual interest of producing nations. “Also, the efficient, economic and secure supply to consumers; and a fair return on invested capital. “Reconfirmed the existing commitment of the 10th OPEC and non-OPEC ministerial meeting in April 2020, amended in June, September, and Decemb...
OPEC: Gas is vital to Nigeria’s future
The Organisation of Petroleum Exporting Countries (OPEC) says gas remains vital to Nigeria’s future in the global oil and gas sector. The OPEC Secretary General, Mohammad Barkindo, disclosed this on Monday in Abuja, at the pre-summit conference on “Decade of Gas”. He said that the move of the country to develop its huge gas deposit was a step in the right direction. “Gas is vital to Nigeria’s future, as is oil, and both will be fuels of choice globally for the foreseeable future and instrumental in facilitating the energy transition,” he said. The secretary-general said that the ‘Decade of Gas’ from 2021 to 2030 was likely to place Nigeria at the forefront of the vital global industry. Barkindo commended President Muhammadu Buhari’s effort as Head of Nigeria’s Delegation to OPEC, in the or...
