Equatorial Guinea has announced that it is
fully complying with its production cuts obligations under the record OPEC++
global oil cuts deal reached in April 2020 and which took effect on the 1st of
May.
While announcing the country’s compliance,
Minister of Mines and Hydrocarbons, H.E. Gabriel Mbaga Obiang Lima, also paid
tribute to Saudi Arabia, the United Arab Emirates and Algeria for going above
and beyond their obligations and playing a substantial role in rebalancing the
market.
“I believe that the solidarity of OPEC and OPEC+
members is key for our industry this year and as we enter a recovery phase. The
agreement between OPEC and OPEC+ countries is the kind of leadership that our
industry needs to navigate very uncertain waters and Equatorial Guinea will
keep supporting such decisions and ensuring it is fully compliant with them,” Gabriel
Mbaga Obiang Lima, Minister of Mines and Hydrocarbons declared.
On this occasion, he also extended his most
heartfelt condolences on the passing of Iran’s OPEC Governor, Hossein Kazempour
Ardebili. “Iran is a key pillar of OPEC and a country who has always advocated
for the Organization’s voice and position within global energy markets. In
addition, the Iranian delegation was extremely supportive of Equatorial Guinea
joining OPEC back in 2017. We truly lament the passing of Hossein Kazempour
Ardebeli, who was a strong OPEC advocate,” stated Gabriel Mbaga Obiang Lima.
