Edmund Daukoru
Edmund Daukoru
Edmund Maduabebe Daukoruis a former Nigerian Minister of State for Energy and was Secretary General of the Organization of the Petroleum Exporting Countriesin 2006. He became the Amayanabo, or traditional ruler, of Nembe Kingdom in 2008...
agreed closely further issues monitor roll simply time
But there are simply too many geopolitical issues at this very time so we have agreed to roll over (production quotas) and to monitor closely if there are any further developments.
best continue depending market monitor preserve tries
One thing OPEC tries to do is preserve market stability. We have said we will continue to monitor closely, and depending on what we see we will do what is best for the market. ... We need to know more about demand.
clean played raise
We've already played this gimmick, ... We want to play clean so we don't even raise the ceiling.
barrels capacity half june looking million modestly
By June we should be looking at modestly another half a million barrels of capacity a day.
bad demand drop past quarter second three
In the past two or three years, the demand drop in the second quarter had not been as bad as it had been much, much earlier.
expect
By a week's time, we can expect a development, and I think that will be positive.
recent saying taken threat wake
In the wake of recent experience, no one is saying that this threat should be taken lightly.
far happy member worrying
We are so far from worrying about quotas. I think for now OPEC will be happy for any member who has the capacity, to produce.
capacity far happy member worrying
We are so far from worrying about quotas, ... I think for now OPEC will be happy for any member who has the capacity to produce.
available believe capacity pledge spare
We will collectively make a pledge to have the spare capacity available if needed, but I don't believe it is needed,
blocks interior
Two of the onshore blocks are well into the interior of the country.
cut hard prices reason
With prices over US$60, really I don't see a reason to cut production. It's pretty hard to see why we should cut.
decision free full taken taking
We know we are taking a risk. But it is not a world free of risks. We've taken a decision full of risks.
ask giving
We are giving them all they ask for, and what they can process.