The Minister of State for Petroleum Resources, Timiprye Sylva, on Wednesday declared that the outgoing OPEC Secretary-General, Mohammed Barkindo, has done much for the stability of the oil and gas industry.
In a congratulatory letter dated 29 June 2022, which he signed on behalf of the Ministry of Petroleum Resources, Sylva noted that Barkindo succeeded in steering the heavily loaded OPEC+ ship through the several life-threatening turbulent waters, against all odds
“Let me begin by saying a big congratulations to you for the successful completion of your six-year meritorious service as the OPEC Secretary-General on 31% July 2022, after serving for the maximum allowed two terms.
“As we all know, you took over the running of the affairs of OPEC at a very challenging time in the oil industry, when oil producers were finding it difficult to come together to address a supply glut that was crippling the oil market.
“No sooner than you came in, the desperately sought cooperation agreement among producers that seemed to defy possible solutions and eluded the wisdom of the wise men, started to fall in place. You made it look so simple to achieve the admiration of all global players in the industry.
“You have since steered the heavily loaded OPEC+ ship through the several life-threatening turbulent waters, against all odds. From the historic highly applauded Algiers Accord in September 2016 which paved the way for the equally historic Declaration of Cooperation (DOC) among 23 oil ‘ producing countries, to the ongoing management of the adverse effects of the global pandemic and energy transition on the oil market, Mr. Barkindo has proved himself a worthy ambassador of Nigeria, and indeed a champion of the global oil market.
“The DOC was indeed a comprehensive architecture that allowed us to tackle the unabated challenges that have shaken the global economy and the oil market.
“These challenges include the oil market downturn in 2014 -2016, as well as the COVID-19 pandemic which started in 2019 but came to, a head in 2020. The DOC has now been institutionalized through the signing of the ‘Charter of Cooperation’, in July 2019, to ensure the long-term survival of the collaboration, and continues to aid market balance and stability, in – the face of geopolitical developments.
“There is no doubt that putting together the DoC, the largest in the history of OPEC, and the largest in the history of the oil industry, and for the longest in duration in the history of the Organization. was a herculean task. You bore the heavier part of this load. The positive effect of this great effort on the rebalancing of the market, and restoring confidence in the global economy, is well acknowledged worldwide. It suffices to say that your diplomatic dexterity, backed up by his tireless shuttle diplomacy, largely made these possible.
“As a strong believer in multilateralism and cooperation, you have laid a good foundation for these at the Secretariat in the past six years, and this has left the Organization in a stronger position to confront the challenges it will face in the coming years, such as those related to the energy transition and climate change.
“Your tremendous and unparalleled contribution to the OPEC during the past six years has been mind-boggling. it is globally acknowledged that you have done much for the stability of the oil market during your tenure. It is important to note that your association with OPEC in several capacities, has spanned almost four decades.
“My dear brother, your gentle and unperturbed demeanor is impressive and worth emulation. Like the proverbial saying, “You came, you saw, and you conquered. You have earned yourself a place in the Hail of Fame for giants in the petroleum industry. This is evident from the various honors that have been bestowed on you by governments and institutions worldwide, including the Republic of Austria’s prestigious Silver Decoration with Sash conferred by the Austrian President, Alexander Van der Bellen.
“It is time to bring home the laurels. Well done. Nigeria is proud of you. In particular, the petroleum industry appreciates you. Be rest assured that resounding accolades await you in your motherland, Mohammad.
“Congratulations, once again, and please accept the assurances of my warmest regards” reads in a letter in parts.