Oil price conundrum: Kachikwu seeks African front on petroleum exporting

KACHIKWU PIXMinister of State for Petroleum Resources, Dr. Ibe Kachikwu has urged member countries of the African Petroleum Producers Association (APPA) to close ranks and bring their influence to bear on the global oil and gas market.

Kachikwu made the plea on Monday during a media briefing to formally mark the countdown for the  sixth Africa Petroleum Congress and Exhibition (CAPE Vl) scheduled to take place in Abuja from 15th – 17th March, 2016.

According to the minister, following the slump in price and demand for oil in the international market, the APPA members needs to unite and forge common positions on critical areas of mutual interest to galvanise their stakes especially in the Organisation of Petroleum Exporting Countries (OPEC).

“APPA needs to meet more often, strategise more often and speak with one voice,” he said.

Kachikwu, who also operates as Managing Director of the Nigerian National Petroleum Cooperation (NNPC) urged APPA member countries to resist the temptation of being over-competitive among themselves so as not to deplete their strength in OPEC and other global oil and gas organisations.

By Olisemeka Obeche

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