ECONOMY


Mohammad Barkindo: We are delighted that OPEC and non-OPEC countries cooperation is strongly supported by President Ilham Aliyev

Baku, May 30, AZERTAC

“The Organization of the Petroleum Exporting Countries` (OPEC) cooperation with Azerbaijan is growing stronger and stronger. We are delighted that the OPEC and non-OPEC countries cooperation (OPEC+) is strongly supported by President Ilham Aliyev,” OPEC Secretary General Mohammad Sanusi Barkindo has told AZERTAC’s correspondent in an exclusive interview.

Mohammad Barkindo hailed Azerbaijan's active leadership role in bringing together OPEC and non-OPEC countries.

OPEC Secretary General noted that he is expected to meet with a delegation led by Azerbaijan’s Energy Minister Parviz Shahbazov on the sidelines of the 174th meeting of the Council of Ministers of OPEC to be held in Vienna, Austria, on June 21-22, as well as during the 9th meeting of the OPEC/Non-OPEC Joint Ministerial Monitoring Committee.

“Azerbaijan will also participate at the 7th OPEC International Seminar at the Imperial Hofburg Palace in Vienna, Austria, on 20−21 held under the theme, ‘Petroleum – cooperation for a sustainable future’. Azerbaijani State Oil Company, SOCAR, will be representing Azerbaijan at the event and Energy Minister Parviz Shahbazov is expected to deliver a key-note speech at the seminar,” Mr Barkindo said.

Answering a question about the cooperation between Saudi Arabia and Russia within the framework of the Vienna agreement on reducing oil output with OPEC and non-OPEC countries, he said: “Saudi Arabia and Russia are strong pillars of OPEC non-OPEC Declaration of Cooperation.”

In December 2016 in Vienna, 11 non-OPEC countries, including Azerbaijan, agreed to curtail oil output jointly by 558,000 barrels per day. The agreement was signed for the first half of 2017 and on May 25, 2017, it was extended by late 1Q2018. Azerbaijan has also joined Vienna agreement to cut oil output and completely fulfilled its obligations to reduce oil production by 35,000 barrels per day.

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