Energy

OPEC Secretary General Says Africa Needs to Combat Energy Poverty As a Priority

H.E. Mohammed Barkindo, Secretary General of the Organization of Petroleum Exporting Countries (OPEC) has urged African oil-producing countries to continue developing their energy sector activities and reassured that OPEC will continue to serve as a viable partner and “assist [them] in whatever way possible.”

Speaking during a meeting at the Republic of the Congo’s National Oil Company, Société nationale des pétroles du Congo (SNPC), as part of a historic three day OPEC and African Energy Chamber delegation to the country on Monday, he highlighted the role of oil and gas in the development of Africa’s energy industry, as well as global energy security. H.E. Barkindo further pointed out that while improvements in renewable energy technologies have been made, the oil and gas industry remains the primary road out of widespread energy and economic deprivation.

“OPEC categorially rejects the narrative that the energy transition is from hydrocarbons to renewables,” said H.E. Barkindo, adding that “all sources of energy are required today in order to meet the challenges of climate change and the future demand for energy.”

Given that the global population is said to increase by 1.7 billion people by 2045 with the majority coming from Africa, it remains crucial that countries like the Congo strengthen their energy industries to respond efficiently to current and future challenges. Congo’s efforts to boost its oil and gas sector, as well as SNCP’s activities have been praised by the Secretary General.

ECP is live covering AEC’s and OPEC’s historic visit to the Republic of Congo as it launches it’s own initiatives to promote the country’s energy sector.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

6 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

7 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

7 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

8 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

8 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

9 hours ago