*Visits Congo’s national oil company
By Teddy Nwanunobi
In continuation with his mission to the Republic of the Congo, the Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Mohammad Barkindo, was, on Monday, received by the Prime Minister of Congo, HE Anatole Collinet Makosso.
Valuechain reports that the bilateral meeting was part of Barkindo’s mission to OPEC’s newest member country, which joined the Organisation in June 2018.
Barkindo, who was accompanied by the OPEC delegation, was received in Makosso’s office in Brazzaville, who used the opportunity to reiterate his country’s pledge to firmly support OPEC and the Declaration of Cooperation (DoC).
Makosso praised the ongoing efforts of OPEC member countries and non-OPEC oil-producing nations participating in the DoC, and urged further cooperation in the interest of oil market stability.
He also thanked the DoC participants for the decisions reached in April of last year to voluntarily adjust oil production in order to accelerate the rebalancing process of the global oil market.
The adjustments are the largest and longest in duration in the history of OPEC, the DoC and the oil industry.
Makosso requested OPEC and Congo’s Ministry of Hydrocarbons to cooperate in further preparing his country’s assumption of the Presidency of the OPEC Conference in 2022.
Barkindo, through Makosso, conveyed his best wishes to the Congolese President, HE Denis Sassou Nguesso.
He recognised Nguesso’s exemplary leadership, which has benefited his country and OPEC, and wished him long life, good health and many more years of service to his country.
Barkindo, who highlighted Congo’s pivotal role in the success of the Organisation and the landmark DoC, also briefed the Prime Minister on the latest developments in the global oil market.
In this context, Barkindo underlined the strategic role of the DoC in overcoming two global oil cycle downturns in 2015 and 2016, and in 2020, the latter caused by the COVID-19 pandemic.
He noted that participating countries have set up solid mechanisms to contribute to the return of oil market stability.
Barkindo thanked the Prime Minister for Congo’s generous hospitality and excellent arrangements rendered for the mission.
Valuechain recalls that Barkindo, earlier, on Monday, met with Congo’s Minister of Hydrocarbon and Head of its delegation to OPEC, Bruno Jean-Richard Itoua.
In a related development, Barkindo visited Congo’s national oil company, the Société Nationale des Pétroles du Congo (SNPC), in the company of Itoua.
During the visit, which had the presence of senior officials from the SNPC and an OPEC delegation, Barkindo highlighted the importance of the visit, as well as the mission to Congo.
“It is always a privilege for me to visit one of our 13 OPEC member countries and especially the newest – the Republic of the Congo, which became part of the OPEC family in June 2018. You are the Organisation’s seventh African member country, and this is a reflection of the continent’s rising importance in supplying the world’s oil needs. OPEC is very proud of Congo’s contributions to the oil industry and the successes of SNPC, whose establishment in 1998 introduced an era of expansion, innovation and international partnerships,” he said.
He commended the company’s efforts in providing economic and stable supplies of oil.
“You are uniquely positioned to provide an efficient, stable and economic supply to the global marketplace; to grow our industry through cooperation; and to be a driving force in the socio-economic development of our countries,” Barkindo said.
He also noted a number of current challenges that are relevant to the oil industry, including low levels of investment and energy poverty.
During the visit, the Secretary General, the Minister, and accompanying delegations were given a detailed presentation on SNPC, its structure, the oil and gas fields it is developing, the size of its workforce, and its share of Congo’s domestic hydrocarbon consumption, among other topics.