Search

 

Cablegate: (U) Demarche On Release of Crude From

This record is a partial extract of the original cable. The full text of the original cable is not available.

UNCLAS ABUJA 001655

SIPDIS

SENSITIVE BUT UNCLASSIFIED

PARIS FOR OECD/IEA

E.O. 12958: N/A
TAGS: EPET ENRG PREL NI OIL
SUBJECT: (U) DEMARCHE ON RELEASE OF CRUDE FROM
STRATEGIC PETROLEUM RESERVES (SPR)

REF: DavisBa-Campbell email msg DTG 0923042247

1. (U) At about noon September 24, Econ Counselor
called on President Obasanjo's Special Advisor for
Petroleum and Energy Edmund Daukoru and made the
demarche requested via email. Daukoru, who co-chairs
the national oil company, is de facto minister of
energy, since the President has not filled this
position since 1999.

2. (U) Daukoru appreciated the notice and said "what
are reserves for, if not to be used." The issue, if
any, he said, might be the volume of crude to be
released and the time by which an equivalent amount
would be restituted to the SPR.

3. (SBU) Daukoru went on that a side benefit of the
release of crude from the SPR might be some dampening
of international oil prices, which he deemed too high.
He explained that OPEC ministers had recently
concluded that prices preferably should move within a
$30-35 band. Despite the last-announced increase in
quotas, prices above $40 a barrel are "outrageously
high." Were prices to remain above $40, OPEC ministers
would have to regroup to see if members could put more
crude on the market.

4. (SBU) Daukoru said Nigeria is now producing about
2.2 mbd, which brings Nigeria's OPEC quota in line
with Nigeria's actual, but temporary, capacity output.
The need for maintenance at some facilities recently
reduced capacity output from 2.5 mbd in June of this
year.

CAMPBELL

© Scoop Media

 
 
 
World Headlines

 

Abu Akleh Shooting: Fatal Shot Came From Israeli Forces, Says OHCHR
Israeli forces were behind the fatal shooting of Al Jazeera journalist Shireen Abu Akleh in the West Bank - not indiscriminate Palestinian firing - the UN human rights office, OHCHR, alleged on Friday... More>>


Ethiopia: Conflict, Drought, Dwindling Food Support, Threatens Lives Of 20 Million

Hunger is tightening its grip on more than 20 million Ethiopians who are facing conflict in the north, drought in the south and dwindling food and nutrition support beginning next month, the UN food relief agency warned on Thursday... More>>


Euro Med Monitor: Syria Cross-border Aid Mechanism Extension Is Necessary For The Survival Of Millions

Permanent members of the UN Security Council should extend the cross-border aid to northwestern Syria, Euro-Med Human Rights Monitor said Tuesday in a statement...
More>>



UN Ocean Conference: Opens With Call For Urgent Action To Tackle Ocean Emergency
With climate change, biodiversity loss and pollution exacting a devastating toll on the world’s ocean — critical to food security, economic growth and the environment... More>>

World Vision: Deeply Concerned For Thousands Affected By Afghanistan Quake
World Vision is deeply concerned about the deteriorating humanitarian situation in Afghanistan in the wake of a powerful earthquake in the early hours of this morning... More>>



Malaysia: UN Experts Welcome Announcement To Abolish Mandatory Death Penalty

UN human rights experts* today commended an announcement made by the Malaysian government that it will abolish the country’s mandatory death penalty and encouraged Parliament to take concrete steps to pass the agreement into law... More>>