Equatorial Guinea fully implements voluntary production adjustment commitments

Vienna, Austria, 18 May 2020--Equatorial Guinea announced that it has fully adjusted its oil production in accordance with its commitment to oil market stability and the agreements reached at the 9th and 10th (Extraordinary) OPEC and non-OPEC Ministerial Meetings held on 9 and 12 April respectively, via videoconference.

The country’s Minister of Industry, Mines and Energy, HE Gabriel Mbaga Obiang Lima, said in a statement: “I believe that the solidarity of OPEC and OPEC+ members of the Declaration of Cooperation is key for our industry this year and as we enter a recovery phase. The decision between OPEC and OPEC+ countries shows the kind of leadership that our industry needs to navigate very uncertain waters, and Equatorial Guinea will keep supporting such decisions and ensuring it is fully compliant with them.”

The Minister also paid tribute to the late Hossein Kazempour Ardebili, IR Iran’s Governor for OPEC, who passed away on Saturday, 16 March 2020.

“IR Iran is a key pillar of OPEC and a country which has always advocated for the Organization’s voice and position within global energy markets. In addition, the Iranian delegation was extremely supportive of Equatorial Guinea joining OPEC back in 2017. We truly lament the passing of Hossein Kazempour Ardebeli, who was a strong OPEC advocate,” the Minister said.