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...
analysis followed market strictly
If we only followed strictly market analysis we should be doing some trimming of volume.
conference paperwork sign soon together
We are doing a mini-bidding conference on May 19 and, thereafter, as soon as we can put the paperwork together we'll sign the deals.
action decisive extra market reassure saying
OPEC is not going to be the decisive action but we want to reassure the market by saying we have this extra capacity,
committed fix keeping market reasonable
OPEC is committed to supplying the market at a reasonable price. Of the two, we're more committed to supplying the market and keeping it stable. I can't fix the price.
bush good opinions sincerely
I think those opinions are sincerely held, and the good thing about the Bush administration is that it's very outspoken. There is no fudging the issues.
market meet obligation rest takes
Just rest assured, we are under obligation to the market to keep the market well supplied. We meet as often as it takes to micro-manage the short-term volatility.
change factors simply
There are simply too many geopolitical factors to change production.
blame constraint nobody purpose
We will really know from this where the constraint is and that's in the downstream, so nobody can blame OPEC. That's really the purpose of this,
assure exact hope
We hope that will assure the market. We are working on the exact wording.
compelling market price reason
I don't see any compelling reason for a cut. The market hasn't changed; the price is still $67 a barrel.
assured market needs rest whatever
The market should rest assured that whatever it needs is there. Before that there is no need to do anything.
capacity cope crude everybody market offered
The market is well supplied - actually it is in balance. After Katrina, everybody offered crude but the refining capacity was not there to cope with it.
impressed increase market meet million psychology small
The market has not been impressed by small increments, so for market psychology it would be better to increase by a million and see if we can meet it,