Buhari to Play Proactive Role in OPEC

Fri, Jun 5, 2015

By publisher

4 MIN READ

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Jamila Shu’ara, leader of Nigerian delegation to the Organisation of Petroleum Exporting Countries says the news administration of President Muhammadu Buhari will play a more proactive role in the international body

NIGERIA under the administration of President Muhammadu Buhari will be committed to playing more proactive and effective roles in the affairs of the Organisation of the Petroleum Exporting Countries, OPEC. Jamila Shu’ara, permanent secretary, ministry of petroleum resources and leader of the Nigerian delegation to the 167th OPEC meeting in Vienna, Austria, said that Nigeria under the leadership of Buhari, who was also former minister of petroleum resources and head of Nigeria’s delegation to the OPEC Conference, would continue to work for the realisation of the aims and objectives of the organisation. Shu’ara who is also the country’s permanent representative in OPEC made this known at the ongoing international seminar at OPEC on Wednesday, June 3.

“I am here to convey to all heads of delegation of OPEC member countries, and indeed representatives of other countries, President Muhammadu Buhari’s gratitude, that of the government and the people of the Federal Republic of Nigeria to member countries of our Organisation, and indeed the international community, for the keen interest shown and, in some cases, the support given to Nigeria towards the implementation of what has become a very successful political transition programme,’’ Shu’ara said.

Buhari’s administration, according to her, is committed to implementing the amnesty programme in Nigeria’s Niger-Delta with vigour with a view to bringing about lasting peace and stability in the area as well as in other parts of Nigeria; thus making the operational environment safe and attractive once again.

“Nigeria is committed to tackling corruption especially in the extractive industry and will strive to bring back transparency and accountability in public life especially in the petroleum industry which is the mainstay of national economy’’.

On the Petroleum Industry Bill, Shu’ara noted that although the Bill is still in the National Assembly, the Buhari administration would take a critical look at it with a view to effecting necessary changes that would facilitate its early passage. “I would like to assure industry players that government will work assiduously to ensure the speedy passage of the Bill and even speedier implementation of the related programmes’’.

Shu’ara said government should strive to diversify the economy and put in place essential infrastructure that would aid its growth.

“We are committed to investing in the whole petroleum value chain, in order to add more value to our national economy from our natural resources and reduce our over dependence on exported crude oil revenue,’’ she stated.

“I am to assure OPEC heads of delegation of a new dawn in Nigeria and the capacities of a new president who understands and appreciates the prospects and challenges of our organization like no other former Nigerian head of State, having been a minister of petroleum resources before,’’ Shu’ara said.

Shu’ara’s remark was followed by a presentation to the 6th OPEC International Seminar by Joseph T. Dawha, group managing director of the Nigerian National Petroleum Corporation, under the theme: Technology and the Environment.

Dawha said that despite the odds, Crude oil would continue to play an important role in the future world energy balance for decades to come, noting that improved use of technology in the oil and gas sector would continue to resolve difficult challenges regarding oil supply in the world energy market and thus achieve a more efficient use of existing oil resources, discover new oil reservoirs, with greater accuracy and also lead to more efficient oil extraction from existing fields.

“New technology and climate change would most likely once again dramatically change the landscape of future oil supply by rapidly increasing supply sources and applying significantly downward pressure on oil prices. Additionally, with traditional oil importing nations becoming more self-sufficient, the struggle for available markets is likely to become even fiercer,’’ the group managing director said.

Dawha called on the global oil industry to always seek to strike that delicate balance between adaptation of technology to increase production and the need to protect the environment, noting: “Environmental protection and sustainable development continue to be of great importance, we should also aim to adopt environmental policies that guarantee sustainable production as we seek to secure future diminishing oil markets,’’ according to a statement signed by Ohi Alegbe, group general manager, Public Affairs Division, NNPC, which was made available to Realnews on Thursday, June 4.

— Jun 15, 2015 @ 01:00 GMT

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