You’ve been a worthy ambassador, Buhari tells outgoing Barkindo

President Muhammadu Buhari has described the outgoing Secretary-General of Organisation of Petroleum Exporting Countries (OPEC) Mohammed Barkindo as a worthy ambassador of Nigeria.

According to a statement by his Special Adviser on Media and Publicity, Femi Adesina, Buhari expressed the nation’s gratitude to the outgoing OPEC Secretary-General.

He directed the Ministry of Petroleum Resources and the Nigerian National Petroleum Company (NNPC) Limited to mobilise the oil and gas industry to organise a befitting welcome reception in honour of Barkindo.

‘‘Your time in charge of the affairs of OPEC has been a very challenging one for the global oil industry. Oil producers were finding it difficult to come together to address challenges that were crippling the oil market.

‘‘Not long after, the world was faced with the COVID-19 pandemic that sent crude prices spiralling down at an alarming rate. You showed incredible leadership to rally industry players and pushed through the turbulent times.

‘‘There is no doubt about your efforts in putting together the Declaration of Cooperation which is the largest in the history of OPEC and the global oil industry and also the longest in duration in the history of the organization. This was a herculean task,’’ the President said.

Barkindo attributed his success to the tremendous guidance, charisma and international gravitas of Buhari; support from OPEC secretariat in Vienna and cooperation by members of the organisation.

He recounted how the counsel from Buhari helped in the birthing of the Declaration of Cooperation of OPEC and non-OPEC oil-producing countries, after he assumed office in Vienna, Austria in 2016 during a downturn in the sector when oil prices plunged to less than 10 U.S dollars per barrel.

‘‘It was very obvious to me that this was beyond OPEC alone to address. We needed to get the support of other leading oil producers around the world.

He said: ‘‘I recall that I did consult with you and I drank from your fountain of wisdom and your deep reservoir of knowledge of OPEC and global affairs.

‘‘With your advice and guidance, I set out to various capitals around the world to try to persuade them to understand the gravity of the situation and the need for them to urgently join hands with OPEC.

‘‘I did explain to them that they do not have to be full members of OPEC but we could work together in a framework of cooperation and on the 10th December, 2016 we signed this historic agreement in Vienna and on the 1st January, we started working together and we were able to assist the oil market restore stability.’’

The former OPEC Secretary-General noted that the Declaration of Cooperation, which is now in its sixth year, also helped the organisation to navigate the turbulence in the market occasioned by the COVID-19 pandemic in 2020.

He explained that amidst COVID-19, the organisation took a decision to withdraw 9.6 million barrels per day from the market- the highest ever adjustment in its history- for a duration of two years.

He added that OPEC is now in the final lap of restoring the production figures due to a rebound in the global market and economy.

THE NATION

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