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OPEC JTC Meets to review oil market Trends

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Gwen Orji – The Organisation of Petroleum Exporting Countries (OPEC), Joint Technical Committee (JTC) of the Declaration of Cooperation (DoC), held its 61st meeting to examine the oil market situation and relevant trends and development.

The meeting took place via videoconference ahead of the 39th meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 27th OPEC and non-OPEC Ministerial Meeting (ONOMM).

OPEC in a statement to the News Agency of Nigeria (NAN) on Wednesday in Abuja said that the JTC was preparatory to the 39th JMMC and 27th ONOMM slated for March 31.

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In a remark, Dr Mohammad Barkindo, OPEC Secretary-General, highlighted the vital roles played by the JTC in providing timely and reliable analysis of oil market conditions to facilitate decision-making processes, particularly during periods of uncertainty witnessed since the outbreak of COVID-19.

The Secretary-General also commended the efforts undertaken by the DoC participating countries in supporting stability and the rebalancing process in the global oil market.

“The heavy lifting done by the DoC countries has been instrumental in supporting these efforts.

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“Leading international organisations and institutions came together in the early days of the pandemic to endorse efforts to stabilise the energy markets.

“This high level of cooperation provided pivotal support to collective efforts undertaken by DoC countries,” Barkindo said.

In reference to recent market developments, he said: “We urge global leaders to follow this example of multilateralism to once again ensure an unhindered, stable and secure flow of energy to the whole world.”

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Barkindo enjoined the DoC participants to stay the course regarding the DoC decisions and remain vigilant and attentive to ever-changing market conditions.

“We must remain focused on balancing the oil market,” he said.

Barkindo said that world oil demand was projected to grow by around 4.2 mb/d in 2022 to reach 100.9 mb/d, exceeding pre-pandemic levels.

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Barkindo also welcomed plans by industry stakeholders to increase investment and launch new projects, including Aramoc’s intention to boost upstream capital spending by around 50 billion dollars this year.

“This underscores the commitment of the Kingdom of Saudi Arabia to address the world’s future energy needs,” he stated.

The Secretary-General concluded by wishing attending delegates a blessed Holy Month of Ramadan.

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The OPEC and non-OPEC Ministerial Meeting – the DoC’s decision-making body – is supported by the JMMC, which is mandated to examine oil market conditions, review the conformity of the DoC voluntary production adjustments and recommend further actions. (NAN)

 

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Tinubu arrives Katsina to receive Buhari’s body for burial

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President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.

The News Agency of Nigeria (NAN) recalls that Vice-President Kashim Shettima departed London in the early hours of Tuesday with the remains of Buhari back to Nigeria.
On arrival at the Umaru Musa Yar’adua Airport Katsina, Tinubu was received by Gov. Dikko Radda,  former Vice-President Yemi Osinbajo, governors, Chairman of Dangote Group, Alhaji Aliko Dangote, Deputy Senate President, Jibrin Barau, and Speaker of the House of Representatives,  Tajudeen Abbas.
Others are Ministers, former governors, former and serving Senators, Alhaji Dahiru Managl,  former Minister of Information and Culture, Lai Mohammed, members of the All Progressives Congress (APC) National Working Committee (NEC), amongst others.
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“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

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Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.

Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.

“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.

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Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.

“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.

Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.

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“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.

Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.

“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.

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On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.

The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.

Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.

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King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

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His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.

In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.

King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”

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He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”

Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”

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