Minister of State for petroleum Dr. Ibe Kachikwu has flown to Qatar for an important meeting with other oil producing nations in a bid to solve the current drop in oil prices worldwide.
Preliminary meetings among top oil producing ministers commenced yesterday, the NNPC said in a statement by Garba Deen Muhammad, group public affairs general manager.
The preliminary talks will explore practicable measures to strike a balance between supply and demand of crude oil with a view to arresting the decline in oil price.
Sunday’s crucial meeting is expected to be attended by ministers of the 12-member Organisation of the Petroleum Exporting Countries, OPEC, made up of Saudi Arabia, Iran, Iraq, Kuwait, Qatar, Venezuela, Libya, Nigeria, United Arab Emirates, Angola, Algeria and Indonesia.
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