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...
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,
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.
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,
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.
barrels capacity half june looking million modestly
By June we should be looking at modestly another half a million barrels of capacity a day.
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.
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.
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,
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.
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.
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.