Buhari Urges OPEC Members To Unite And Help Stabilize Oil Prices
President Muhammadu Buhari in Doha, Qatar, has stressed the need for member states of OPEC and non members to unite and find a common ground to stabilise crude oil prices.
The president labelled the current market situation in the industry, which had seen oil prices plummet by 70 per cent since mid 2014, as “totally unacceptable’’.
“As members of OPEC and Gas Exporting Countries Forum (GECF), our relations in the areas of oil and gas, which our two nations heavily rely on, need to be enhanced and coordinated for the benefit of our people.
“We must cooperate both within and outside our respective organisations to find a common ground to stabilise the market, which will be beneficial to our nations,’’ he emphasised.
[Also Read] Qatar gives notice of its withdrawal from OPEC
President Buhari noted with delight the existing cordial bilateral relations between Nigeria and Qatar. He, however, invited prospective Qatari investors to take advantage of the abundant opportunities in Nigeria and invest in the key areas of energy, agriculture, real estate development, banking and finance.
President Buhari said in the course of his visit, the delegations from Nigeria and Qatar would formalise at least two bilateral agreements to boost economic cooperation between both countries.
[Also Read] Oil steady after G20 warns of risks to growth
He also weighed-in on the situation in the Middle East, commending the role Qatar was playing in resolving the present Syrian crisis, the Palestinian course and efforts in reconstructing Gaza.
More Nigeria Oil and Gas Industry News on Orient Energy Review
- FG Rolls Out Strategies to Strengthen Nigerian Oil & Gas Industry
- Nigeria Blames Expatriates, Others for High Production Cost of Oil