Thursday, May 11, 2017

Equatorial Guinea and Saudi Arabia Reaffirm Commitment to Oil Production Cuts, Express Support for Equatorial Guinea Accession to OPEC

The Republic of Equatorial Guinea and the Kingdom of Saudi Arabia reaffirmed their commitment to oil production cuts. The Government of Equatorial Guinea expressed its appreciation for the Kingdom’s support in regards to its accession to the Organization of Petroleum Exporting Countries (OPEC).

The President of the Republic of Equatorial Guinea, HE Obiang Nguema Mbasogo, met with the Saudi Minister of Environment, Water, and Agriculture, Abdurrahman Abdul Mohsen Al-Fadli, and reaffirmed Equatorial Guinea’s solidarity in regards to the oil production cuts. The President and Minister also discussed areas of mutual cooperation in other economic sectors.

Equatorial Guinea reiterated its commitment to reduce oil production by 12,000 barrels of oil per day.

Equatorial Guinea submitted its interest to join OPEC in January, in line with the Declaration of Cooperation Agreement to reduce total oil production by 1.8 million barrels per day for the first six months of 2017.

The President is currently meeting with high-level Saudi officials at the first Equatorial Guinea – Saudi Arabia Economic Forum in Jeddah.