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Cameroon: Key Issues Awaiting APPA Experts
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Cameroon Tribune (Yaoundé)
25 March 2008
Posted to the web 25 March 2008
Lukong Pius Nyuylime
Four main areas of concern will feature prominently at the meeting of experts of the African Petroleum Producers Association, APPA, which begins at the Yaounde Conference Centre today. The experts, many of whom are drawn from the 14 member countries of APPA and who are meeting to prepare ground for the 25th Ordinary Session of the Council of Ministers, will grapple with sublime issues that will pave the way of success for the association.
In a press briefing yesterday ahead of the opening meeting, Adolphe Moudiki, Cameroon's Plenipotentiary Current President of APPA, stated inter alia that the drawing up of the 2008-2011 Action Programme, reinforcing of the association's secretariat, cleansing of the secretariat after the 2007 audit and adopting of the new management procedures will constitute major problems to be tackled by the Yaounde confabs.
That notwithstanding, the Yaounde meeting is expected to among others take into consideration the burning problems affecting the oil sector in the international market. "The difficult international situation us characterised by exceptionally high crude oil prices in the internationalm market, above the USD 100 barrel level", Moudiki told pressmen. This continuous increase, he said, is a result of sustained global crude oil demand, which today stands at 86 million barrels a day, whereas global supply is estimated at 85.44 million barrels. It is also caused by relatively low global crude oil stocks, geopolitical tensions in the Middle East, fall of the US dollar and recession in the United States, which increase speculation in the commodities market.
How would countries of the African continent, especially members of APPA grapple with these problems, is the question that will certainly linger in the minds of both experts and Ministers during their deliberations. This couldn't have been otherwise considering that the increase have been having far reaching consequences on the African countries be they oil or non-oil producing countries.
The African Petroleum Producers Association, was created in 1987 in Lagos, on the initiative of eight countries: Algeria, Angola, Benin, Cameroon, Congo, Gabon, Libya and Nigeria to promote cooperation among hydrocarbons producing countries in Africa. To date, APPA comprises 14 members: Algeria, Angola, Benin, Cameroon, Chad, Congo, Côte d'Ivoire, Democratic Republic of Congo, Egypt, Equatorial Guinea, Gabon, Libya, Nigeria and South Africa.
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