Nigeria's Minister of State
for Petroleum Resources, Dr. Ibe Kachikwu, has emerged the next president of
the African Petroleum Producers Organisation (APPO).
Kachikwu was announced the
president of APPO, an organisation of African countries producing petroleum, on
Monday in Abuja, and should lead it to the next phase of its operation which
would include re-strategising for the emerging challenges of the global oil
industry. He took over from Michel Boukar, a Chadian.
APPO was founded in 1986 in
Lagos, with its headquarters in Brazzaville in the Congo. It currently
comprises 14 member countries which include Algeria, Angola, Benin, Cameroon,
Chad, Democratic Republic of Congo, Congo Brazzaville, Côte d'Ivoire, Egypt,
Gabon, Equatorial Guinea, South Africa, Libya, and Nigeria.
Altogether, these countries
account for virtually the totality of Africa's oil and gas reserves and output.
The founding of APPO was
reportedly spearheaded by Nigeria as an effort to mitigate its dependency on
western technology and western markets for oil export revenues. The objective
of APPO was to promote cooperation in petrochemical research and technology.
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