April 16, 2024

NOGEnergyWeek: OPEC SG commits to working with President Bola Tinubu to achieve global energy market stability

Oredola Adeola

Haitham Al Ghasi, the Secretary General of OPEC, has expressed his organization’s commitment to working closely with the administration of President Bola Tinubu to bring stability and balance to the global energy market.

 

The OPEC SG made this promise virtually in his international keynote address during the ongoing Nigeria Oil Gas Energy Week in Abuja.

 

President Tinubu had in a recent statement called for global energy market stability and quick funding from the United States to help Africa’s leading oil producer accelerate its energy transition plans, while also pledging to meet the country’s climate change goals. 

EnergyDay gathered that despite these promises, the Nigeria’s government has continued to hold to views that the country still needs to exploit its hydrocarbons to help provide power to millions of citizens without electricity.

 

Al Ghasi thanked Nigeria for its role in the organization’s affairs since the country joined OPEC in 1971, adding that the Nigerian government has been generous to OPEC in all its functions and activity.

 

He said, “Inclusive energy transition, the support has been valuable from Nigeria and other oil-producing OPEC members.
Making reference to the event’s theme “Powering Nigeria’s Sustainable Energy Future”, the OPEC SG highlighted that the industry continues to seek the right balance between meeting the world’s rising energy needs and addressing climate change.

 

He emphasized the importance of a fair and inclusive energy transition that considers all voices and circumstances in discussions on climate change and energy transition.

 

According to him, OPEC is committed to expanding energy access and helping achieve the UN Sustainable Development Goals.

 

Al Ghasi also highlighted that the industry continues to seek the right balance between meeting the world’s rising energy needs and addressing climate change.

“The oil and gas industry has a long history of being at the cutting edge of innovation and technology, and now it has the possibility of bringing that expertise to support developing cleaner and more efficient technological solutions to help unlock an emissions-free future,” the SG said.

 

He said that technological innovation will play a critical role in reducing emissions.