Featured, Oil & Gas
By Anthony Isibor
THE Secretary General of the Organization of Petroleum Exporting Countries, OPEC, Haitham Al Ghais, has said that there is a bright future for Africa’s oil industry with substantial opportunities for growth.
Al Ghais, who was speaking at the 7th Nigerian International Energy Summit, NIES, in Abuja on Tuesday stated that Africa is home to five of the top 30 oil-producing countries with a proven oil reserves amounting to around 119 billion barrels at the end of 2022.
He called on Nigeria and Africa to continue to explore its huge crude oil resources as abandoning its huge oil resources amounts to taking away her source of food.
He also noted that OPEC takes great pride in its strong and enduring African connections and identity.
According to him, half of the OPEC Member Countries are African and this includes the most populous African country, Nigeria and the geographically largest by area, Algeria.
“We are also privileged to count Congo, Equatorial Guinea, Gabon and Libya as Member Countries. Additionally, two African countries have joined the historic ‘Declaration of Cooperation,’ between OPEC and 10 non-OPEC producing countries, namely Sudan and South Sudan.
The OPEC Secretary General also described Nigeria as a home-from-home due to the very important part that it plays in OPEC and thanked President Tinubu for the importance that the government attaches to NIES event as well as the leadership role Nigeria plays on matters of international energy policy.
“Allow me to conclude by once again thanking the Nigerian Government for facilitating my participation in this great event. OPEC is immensely proud to count Nigeria a Member Country. The future of our strong relationship is bright and we look forward to many more decades of successful partnership between Nigeria and OPEC,” he added.
A.I
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