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OPEC Meeting Concludes In Stalemate - Politics - Nairaland

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OPEC Meeting Concludes In Stalemate by emamos: 8:18pm On Apr 17, 2016
Hopes that crude oil prices would be boosted by a production freeze are now in jeopardy following a stalemate at the oil producers’ meeting in Doha, Qatar, on Sunday.
The conference, held by OPEC and non-OPEC members, ended after a 14-hour session without agreeing on a freeze as Iran and Saudi Arabia continued to flex muscles.
TheCable understands that Ibe Kachikwu, Nigeria’s minister of state for petroleum resources, worked behind the scene to get the Arab countries to reach a consensus but his efforts did not yield any fruits.
Saudi Arabia is insisting that Iran, which was absent at the conference, must also agree to a production freeze before any deal can be reached.
Iran, which just returned to the international market after the lifting of sanctions, is keen to regain its share, contrary to the wish of the Saudis that the country should join a global freeze deal.
Iran and Saudi Arabia have been locked in a regional supremacy battle.
The conference, presided over by Mohammed Saleh Abdulla Al Sada, the Qatari minister of energy and industry, ended without any decision.
Decision has now been moved to June – five months after the deal was first mooted to stabilise output at January levels until October 2016.

http://www.thebreakingtimes.com/breaking-opec-meeting-concludes-in-stalemate/
Re: OPEC Meeting Concludes In Stalemate by Mynd44: 8:22pm On Apr 17, 2016
When Saudi Arabia and Iran are done with their joystick waving contest, they should come attend to serious issues

19 Likes 1 Share

Re: OPEC Meeting Concludes In Stalemate by juniorportland(m): 8:37pm On Apr 17, 2016
this Saudi and Iran issue is gonna be a very big problem.... watching in 4D

Shi'a and Sunnis wahala....... I see a long long drawn brawl



junior Portland

9 Likes 3 Shares

Re: OPEC Meeting Concludes In Stalemate by hucienda: 8:39pm On Apr 17, 2016
Ahh... well whad'yano, the Shi'a and Sunni nations holding the OPEC to ransome eh?

US$40/bbl +/- is it then for the near future with 9ja barely breaking even à la benchmark in the ever changing, confusing, padded #Budget2016.

And with no clear-cut economic direction from the FGN, companies esp those in the petroleum industry would def have to re-run their economics and re-test their respective projects' NPV, IRR, PBP et al sensitivities.

5 Likes

Re: OPEC Meeting Concludes In Stalemate by Almajiri1: 8:42pm On Apr 17, 2016
Buhari must stabilise world oil price so we can enjoy Eldorado in Nigeria before 2019.

21 Likes

Re: OPEC Meeting Concludes In Stalemate by Nobody: 8:45pm On Apr 17, 2016
Abeg make dem pity us...cuz when two elephants are fighting it's the grass that suffers

2 Likes 1 Share

Re: OPEC Meeting Concludes In Stalemate by omaiyale: 8:46pm On Apr 17, 2016
If i were Iran i will do same my country first any other intrest is secondary

5 Likes 1 Share

Re: OPEC Meeting Concludes In Stalemate by ojun50(m): 8:47pm On Apr 17, 2016
Iba come back home no talk to them again u don try

5 Likes

Re: OPEC Meeting Concludes In Stalemate by CACAWA(m): 8:47pm On Apr 17, 2016
lol
Re: OPEC Meeting Concludes In Stalemate by Nobody: 8:48pm On Apr 17, 2016
Time to industrialize.

Oil is dead.

It is time we used our brains to work and work.

Oil is not going to resurrect.

6 Likes 1 Share

Re: OPEC Meeting Concludes In Stalemate by seunlayi(m): 8:48pm On Apr 17, 2016
Join me in watching this seasoned film in 3d

1 Like 1 Share

Re: OPEC Meeting Concludes In Stalemate by magicminister: 8:48pm On Apr 17, 2016
we are in for a long ride!

3 Likes

Re: OPEC Meeting Concludes In Stalemate by 989900: 8:49pm On Apr 17, 2016
This Iran and Saudi should just go to war already.

The perfect scenario a republican gov't needs to get something started. wink

Re: OPEC Meeting Concludes In Stalemate by Mopolchi: 8:49pm On Apr 17, 2016
u sure say pmb no go there do this thing:

18 Likes

Re: OPEC Meeting Concludes In Stalemate by aliumik: 8:49pm On Apr 17, 2016
I don't bother about the price of CRUDE OIL cos I'm connected to the GOOD OIL....JESUS

15 Likes

Re: OPEC Meeting Concludes In Stalemate by Isoni(m): 8:50pm On Apr 17, 2016
Kachikwu will be better suited for Nollywood as he loves working behind the scenes

6 Likes

Re: OPEC Meeting Concludes In Stalemate by Nobody: 8:50pm On Apr 17, 2016
Mynd44:
When Saudi Arabia and Iran are done with their joystick waving contest, they should come attend to serious issues

The elephant in the room is the United States.....self sufficiency in oil

And non-oil technology is improving well well.

I don't know....but I think that we Nigerians have to wake up. This is the 21st century. No one lives on revenues from raw materials in the 21st century. Now...it is innovation and innovation.

Nigeria should stop looking at oil as some sort of Lady Savior who will rise from her slumber and lead us into Elysium. There is no oil fueled Elysium. The materials for building Elysium are in our hands. Whether we are ready to take them up....or keep on playing tribal and religious fueled games of resource sharing....while dancing on the edge of anarchy....is our choice.

Time we woke up. Time we woke up. Oil is a false god.

18 Likes

Re: OPEC Meeting Concludes In Stalemate by fulanimafia: 8:50pm On Apr 17, 2016
Well the joke is on them, because while they're busy gauging the length of their oily deeks, our President is aggressively pursuing diversification efforts to move us away from dependency on the plagued oil.

3 Likes

Re: OPEC Meeting Concludes In Stalemate by seunlayi(m): 8:51pm On Apr 17, 2016
This is the time for baba B to rise up to the occasion. Oil price must be stabilised as promised

7 Likes 1 Share

Re: OPEC Meeting Concludes In Stalemate by Nobody: 8:52pm On Apr 17, 2016
Na waa ooo, so ds ppl are deciding our future abi?



Anyways....





DrabeeyWasHere

1 Like

Re: OPEC Meeting Concludes In Stalemate by omaiyale: 8:52pm On Apr 17, 2016
aliumik:
I don't bother about the price of CRUDE OIL cos I'm connected to the GOOD OIL....JESUS
HOW ?
Re: OPEC Meeting Concludes In Stalemate by Consultville(m): 8:52pm On Apr 17, 2016
This is becoming serious
Re: OPEC Meeting Concludes In Stalemate by seunlayi(m): 8:52pm On Apr 17, 2016
He should fly to the middle east and interven asap

9 Likes

Re: OPEC Meeting Concludes In Stalemate by shammah1(m): 8:53pm On Apr 17, 2016
Nawa o
Re: OPEC Meeting Concludes In Stalemate by AkasGonahMani(m): 8:54pm On Apr 17, 2016
oh Allah! Help Nigerians!
Re: OPEC Meeting Concludes In Stalemate by cardoctor(m): 8:55pm On Apr 17, 2016
Fast forward abeg.

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