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...
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,
bush good opinions sincerely
I think those opinions are sincerely held, and the good thing about the Bush administration is that it's very outspoken. There is no fudging the issues.
action decisive extra market reassure saying
OPEC is not going to be the decisive action but we want to reassure the market by saying we have this extra capacity,
committed fix keeping market reasonable
OPEC is committed to supplying the market at a reasonable price. Of the two, we're more committed to supplying the market and keeping it stable. I can't fix the price.
change factors simply
There are simply too many geopolitical factors to change production.
market meet obligation rest takes
Just rest assured, we are under obligation to the market to keep the market well supplied. We meet as often as it takes to micro-manage the short-term volatility.
available believe capacity pledge spare
We will collectively make a pledge to have the spare capacity available if needed, but I don't believe it is needed,
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.
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.
cut hard prices reason
With prices over US$60, really I don't see a reason to cut production. It's pretty hard to see why we should cut.
conference paperwork sign soon together
We are doing a mini-bidding conference on May 19 and, thereafter, as soon as we can put the paperwork together we'll sign the deals.
ask giving
We are giving them all they ask for, and what they can process.
clean played raise
We've already played this gimmick, ... We want to play clean so we don't even raise the ceiling.
analysis followed market strictly
If we only followed strictly market analysis we should be doing some trimming of volume.