Prices have their ebbs and flows. We are concerned that prices don't get out of hand.
More Quotes from Edmund Daukoru:
Just rest assured, we are under obligation to the market to keep the market well supplied. We meet as often as it takes to micro-manage the short-term volatility.Edmund Daukoru
OPEC is not going to be the decisive action but we want to reassure the market by saying we have this extra capacity,
Edmund Daukoru
By a week's time, we can expect a development, and I think that will be positive.
Edmund Daukoru
OPEC ministers, who were meeting through Sunday evening, have yet to reach an agreement. Some ministers suggested there was no need to put extra oil on the market. The market is well supplied - actually it is in balance, ... After Katrina, everybody offered crude but the refining capacity was not there to cope with it.
Edmund Daukoru
Two of the onshore blocks are well into the interior of the country.
Edmund Daukoru
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