OPEC’s Barkindo says “Declaration of Cooperation” has transformed Cartel’s perception

Mohammad Sanusi Barkindo, OPEC Secretary General has said perceptions of OPEC have undergone a profound transformation in the last two years.
He stated this at the Africa Oil and Power Energy Coalitions Gala Dinner, Wednesday.
According to him, the “Declaration of Cooperation” has caused a great rejuvenation in the oil and gas Industry.
In his words, “It is no coincidence that this has occurred at the same time as an intensification of OPEC’s engagement with Africa.

“African membership of both OPEC and the “Declaration of Cooperation” strategic partnership has increased, and other African partners engage with us across a broad range of fronts, including through their attendance at the OPEC/Non-OPEC Ministerial Meetings.
“I think one of the most important reasons why the “Declaration of Cooperation” has been successful is because at its heart; it has a fair, timely and transparent goal which can be articulated in four simple words: sustainable oil market stability.
“Our means for attaining that goal can be summarized in a similarly straight-forward manner: voluntary cooperation among nations.
“This approach resonates with the theme of our conference today “energy coalitions” and I encourage all producing countries from across this continent to consider joining us in our efforts to work in the interests of producers and consumers, as well as the global economy.
“When we began the “Declaration of Cooperation” journey in 2016, many doubted that we could achieve our goals. The health of the industry was such that some thought oil market stability would remain elusive forever.
“Participating countries persevered and hope was restored.

“We accept this Award on behalf of all of those participating countries, both OPEC and non-OPEC, who have done so much to transform the fortunes of our industry.
“And I dedicate it to all the hard working people representing those countries, in particular my colleagues at the OPEC Secretariat, for the outstanding work they have performed in the last two years. It would not have been possible without their hard work, commitment to duty and strive for excellence at all times.
“Looking to the future, OPEC will never cease to advocate for cooperation, collaboration and fraternity among nations as the best solutions to overcoming challenges,” he added.