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| No Plan to Cut Oil Production: OPEC President |
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[ 作者: 加入时间:2006-08-24 09:36:34 来自:
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President of the Organization of Petroleum Exporting Countries (OPEC) Edmund Daukoru said here on Wednesday that the organization has no plan to cut production or return to quota system, at least for the rest of this year.
"Unless something extra-ordinary happens, I do not see a return to quota system or a cut in production soon," Daukoru told reporters in the Nigerian capital Abuja.
Daukoru, who is also Nigerian minister of petroleum resources, told reporters that OPEC is currently producing more than 28 million barrels of crude per day and is concerned with stabilizing oil prices than a cut in production.
"We will continue to produce to show the market that there is an excess in production and that high oil prices are more as a result of limits in refining capacity," he said.
During his visit to Brazil last week where he visited a sugarcane research center, Daukoru said Nigeria was seeking collaboration with Petrobrass, Brazil's national oil company, to begin shipping of ethanol to Nigeria for its ethanol fuel project.
"Already, reception facilities are being rehabilitated in Lagos in readiness to receiving large volume of imported ethanol," he said.
Nigeria has joined the club of ethanol fuel producers with the launching of a large hectare of land for sugar cane cultivation in Jigawa state two months ago.
It is learnt that all things being equal before the end of the year, motorists will have option of either buying ethanol fuel or normal petrol.
Brazil is the world largest producer and exporter of ethanol.
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