Minister calls for synergy among oil producing nations
Oil producing nations on the African continent have been asked to create more synergies in their oil and gas industries in order to deepen their influence in world markets.
FCT Minister of State, Dr. Ramatu Aliyu, who gave the advice at a dinner of the extra-ordinary session of the Council of Ministers of African Petroleum Producers Organization, APPO, held in Abuja, stresses on the need for unity and integration among member countries.
She said a united front will help members maximize the developmental and welfare benefits accruable from petroleum exploration activities.
The minister argued that for the continent to compete favorably with Saudi Arabia, Russia and the United States, member countries of African Petroleum Producers Organization must put an end to the disunity and hyper-balkanization that characterized today’s Africa and further promote its integration.
Aliyu further noted that despite the challenges across the entire oil industry value chain, the APPO with 18 member countries, accounts for nearly 95 percent of Africa’s oil production and accounts for at least 13 percent of world production.
According to her, “There is no doubt in my mind that Africa’s oil and gas potential can compete today with that of any other region in the world. If Africa were to be considered as a single producer, it is certain that our continent would challenge Saudi Arabia, Russia and the United States.
“However, to properly compete, we must put an end to the disunity and hyper-balkanization that characterized today’s Africa and further promote its integration.”
Aliyu noted that Africa has proven itself as a host of mega discoveries with a wealth of untapped and undiscovered potential, stressing that Africa oil and gas producers are of course globally competitive, and the investments are already beginning to pick up with the rebound in the oil price,” she advised.
Speaking in the same vein, Secretary General of APPO, Mr. Omar Ibrahim, said there is the need for the organization to build trans-border infrastructures for the benefit of the continent, stressing that if the organization can put its resources together, greater success will be achieved.