The Minister of Mineral Resources and Petroleum, Diamantino de Azevedo, announced, last week, in Luanda, that the reform effective implementation of the Organization of African Petroleum Producing Countries (APPO), will take place from next year.
Diamantino de Azevedo, who was speaking at a press conference held at the end of the Extraordinary Meeting of the Council of Ministers of African Oil-Producing Countries held in Luanda, said that the organization approved a transition period for the reform of the institution and an action plan regarding to the management of the fund allocated to contributions from member countries.
The transition process, which begins next April and ends a year later, will be led by Nigeria, Africa’s largest crude producer.
At the press conference, Nigeria’s Minister of Petroleum, Emmanuel Ibe Kahikwu, declared that the reform will make the organization more dynamic and capable of carrying out work similar to organizations such as OPEC, which has performed outstanding work. The current meetings constitute the final phase of this reform.
The executive secretary of the organization of African Petroleum Producing Countries, Mahaman Laouan Gaya, recalled that, since March 2014, the organization has been involved in a restructuring process based on institutional reform, after 30 years of existence.
The reform is a project included in the eighth action program of African Petroleum Producing Countries, which was adopted by the organization’s 29th Council of Ministers in 2012. However, added Mahaman Laouan Gaya, it was only in 2014 that it was decided to implement the study on the subject.