OPEC economic board, Nigerian appointed alternate chairman.

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OPEC economic board, Nigerian appointed alternate chairman.

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The Organisation of Petroleum Exporting Countries (OPEC) has announced the appointment of Olusegun Adekunle, Nigeria’s national representative as the alternate chairman of the 127th OPEC economic commission board.

This was announced at the 172 ordinary meeting of the oil cartel in Vienna, Austria.

Ibe Kachikwu, minister of state for petroleum, expressed delight at the development, congratulating Adekunle and urging him to continue to work hard to justify the appointment and make Nigeria proud.

At the OPEC meeting, the cartel decided to extend oil cut deal for another nine months, with the exception of Nigeria and Libya, based on negotiations by the Nigerian minister.

Also, at a meeting with Alexander Novak, Russia’s energy minister, Kachikwu expressed Nigeria’s interest in having Russia and Russians come to participate in Nigeria’s growing oil sector of the country.


Alexander Novak and Ibe Kachikwu
He pointed out that the reforms and processes being put in place which aims to enhance the investment climate in Nigeria, has recorded major achievements with the ongoing implementation of the 7 BigWins — Nigeria’s Petroleum Roadmap.

Novak assured Kachikwu that Russia is interested in participating in the Nigerian oil industry and would suggest that preliminary technical talks begin as soon as possible between the two countries.

Novak extended an invitation to Kachikwu to visit Russia during the next Gas Exporting Countries Forum ministerial meeting, scheduled for next October, where further talks on the matter can take place.

In a related development, Gabriel Mbaga Obiang Lima, the minister of mines, industry and energy of the Republic of Equatorial Guinea, has lauded Nigeria’s role in the recent admittance of the Country into OPEC membership.

Obiang Lima stated that “in one of the most critical moments of our oil history, Nigeria through its Minister Dr. Ibe Kachikwu stood by our side and showed itself to be a true friend and partner.

He further stated that “Equatorial Guinea will always remember with gratitude and affection how Nigeria offered us support on our OPEC application and extraordinary assistance along with our African Brothers.”

In conclusion he enthused that Equatorial Guinea thanks Nigeria for supporting Equatorial Guinea to give Africa a stronger voice in OPEC.