17th April, 2016
The attention of the global oil and gas community has virtually descended on Doha, capital of the State of Qatar venue of Sunday’s crucial Oil-Producing Countries Ministerial Meeting convoked to seek remedy to the lingering decline in the price of crude oil in the international market.
Nigeria’s Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Ibe Kachikwu is already in Doha where preliminary meetings among top oil producing ministers has commenced.
A statement from the Group General manager, Group Public Affairs Division, of the NNPC explained that Kachikwu is currently putting heads together with Oil Ministers from other member countries to seek practicable measures to strike a balance between supply and demand of crude oil with a view to arresting the decline in oil price.
Sunday’s crucial meeting is expected to be attended by ministers of the 12-member Organisation of the Petroleum Exporting Countries, OPEC, made up of Saudi Arabia, Iran, Iraq, Kuwait, Qatar, Venezuela, Libya, Nigeria, United Arab Emirates, Angola, Algeria and Indonesia as well as non OPEC member countries led by Mexico, Bahrain, Oman and Russia.