OPEC’s Barkindo Assures Global Oil Community Of Market Stability

OPEC Secretary General Mohammed Barkindo

The Organisation of the Petroleum Exporting Countries (OPEC) Secretary General, Dr. Mohammed Barkindo, has assured the global oil community that the organization would do all it takes to sustain the “relative stability” currently witnessed in the global energy market.

Barkindo said the assurance on sustainable stability was necessary in the wake of emerging uncertainties in world energy demand, the resurgence of non-OPEC supplies as well as international geopolitics.

“I would like to say that the global energy market needs stability on sustainable basis. As we approach 2019, I am happy to assure the industry and the global community that the partnership between us and non-OPEC countries, now numbering an unprecedented 25 producing nations, has come to stay.

“What we are discussing now is the mechanics of the marriage. But all I can say now is that I am confident and hopeful that we will continue to jointly sustain this stability going forward,” he said at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, is expected to speak on “creating forward-thinking strategies, supporting upstream operations and market diversification,” in a panel discussion alongside other global CEOs. Baru will share NNPC’s drive to join the world in delivering future energy needs in line with anticipated global demand and population growth.

ADIPEC is an annual global oil and gas event attended by over 110,000 oil and gas professionals from across the world, where latest innovations and technologies in the global industry are showcased.

Now in its 21st edition, this year’s Conference was declared open by the President of the UAE, Sheikh Khalifa Bin Zayed Al Nahyan, under the theme: “shaping the future of the world’s oil and gas industry.”


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