Edmund Daukoru
Edmund Daukoru
Edmund Maduabebe Daukoruis a former Nigerian Minister of State for Energy and was Secretary General of the Organization of the Petroleum Exporting Countriesin 2006. He became the Amayanabo, or traditional ruler, of Nembe Kingdom in 2008...
capacity comfort increase mainly talk worry
The talk of an increase is mainly to give comfort to the market. It is refining capacity we have to worry about.
fair market price
A fair price is what the market can sustain.
capacity cope crude everybody market offered
The market is well supplied - actually it is in balance. After Katrina, everybody offered crude but the refining capacity was not there to cope with it.
concerned prices
Prices have their ebbs and flows. We are concerned that prices don't get out of hand.
case cutting high low
Anything in the high $50's or low $60's isn't a case for cutting output.
bad demand drop past quarter second three
In the past two or three years, the demand drop in the second quarter had not been as bad as it had been much, much earlier.
blocks interior
Two of the onshore blocks are well into the interior of the country.
blame constraint nobody purpose
We will really know from this where the constraint is and that's in the downstream, so nobody can blame OPEC. That's really the purpose of this,
capacity consensus share spare
We have a consensus that we want to put before the conference. We want to share the availability of the spare capacity with the market,
assure exact hope
We hope that will assure the market. We are working on the exact wording.
capacity far happy member worrying
We are so far from worrying about quotas, ... I think for now OPEC will be happy for any member who has the capacity to produce.
far happy member worrying
We are so far from worrying about quotas. I think for now OPEC will be happy for any member who has the capacity, to produce.
clean played raise
We've already played this gimmick, ... We want to play clean so we don't even raise the ceiling.
decision free full taken taking
We know we are taking a risk. But it is not a world free of risks. We've taken a decision full of risks.