By Biola Lawal
Abuja (Flowerbudnews): Nigeria’s Amb. Gabriel Aduda has emerged the alternate Chairman of
Organisation of Petroleum Exporting Countries (OPEC) for the year 2024.
Amb. Aduda:s elevation was one of the najor decisions of the 187th meeting of the recent Conference of OPEC members during which Libya’s Mohammed Oun was also announced Chairman of the Board for the incoming year.
Amb. Aduda is also currently, the OPEC Governor of Nigeria and Permanent Secretary, Ministry of Petroleum Resources,
Major outcomes of the 36th OPEC and Non-OPEC Ministerial Meeting, which ended in Austria, Vienna, recently, also included the pegging of Nigeria’s crude oil production for 2024 at 1.5 Million Barrels Per Day.
Oluwakemi Ogunmakinwa, Deputy Director and Head of the Press and Public Relations Unit in the Ministry of Petroleum Resources has disclosed in a statement.
The statement said that significant strides were made towards. maintaining a stable and balanced oil market by member States of the Organisation.
According to information made available to the public by the Ministry, participating countries at the meeting emphasized commitment to the Declaration of Co-operation and reaffirmed their dedication to the framework established since the inception of the Declaration of Co-operation on December 10,2016.
This commitment, which the participating countries have consistently endorsed in several meetings, including the 35th OPEC and Non-OPEC Ministerial Meeting held on June 4 earlier in the year, has been further strengthened through the Charter of Co-operation the countries ratified on July 2,2019.
The 36th OPEC and Non-OPEC Ministerial Meeting also addressed crucial aspects of the Organisation’s operational mandate, including the completion of assessments by independent sources on the 2024 projected production levels for Angola, Congo as well as Nigeria.
The assessments concluded production estimates for Angola at 1.11 Million Barrels Per Day;277 Thousand Barrels Per Day for Congo and 1.5 Million Barrels Per Day for Nigeria. These figures the release noted were in alignment with prior decisions set forth at the 35th OPEC and Non-OPEC Ministerial Meeting earlier held in June.
Part of the highlights of the 36th OPEC and Non-OPEC Ministerial Meeting was the warm reception accorded the Brazilian Minister of Mines and Energy, Alexandre Silveira de Oliveira. Brazil had earlier announced its forthcoming inclusion in the OPEC+ Charter of Co-operation with effect from January 2024.
The 37th OPEC and Non-OPEC Ministerial Meeting, the release also informed,has been scheduled for Vienna, Austria on June 1, 2024.
The release also stated that the gathering used the opportunity to dispell all speculations of discord among OPEC countries with regard to the acceptance or otherwise of the 2024 crude oil production quotas aimed at fortifying market dynamics, fostering stability as well as sustainable growth within the industry. (Flowerbudnews)
