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Published On: Tue, Feb 27th, 2018

OPEC data generating agencies gather for training in Abuja

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OPEC LOGOBy Musa Adamu

Agencies responsible for generating data for the Organization of Petroleum Exporting Countries (OPEC) are in Abuja for training on its new data gathering methodology.
The workshop being hosted by the Petroleum Technology Development Fund (PTDF) will afford the agencies opportunity to train on the OPEC new data generating template for two days.
Speaking at the event, the Nigeria’s Governor to OPEC, Dr Omar Faruk Ibrahim, said the oil cartel recently reviewed its data generating methodology in used for the last 30 years, adding that the review became necessary due to the dynamic nature of the oil industry.
Explaining the nature of the data, Dr Ibrahim categorized it into annual and monthly data generation questionnaires.
He said while the annual questionnaire covers areas such as crude oil production to oil consumption, GDP, per capita income and every other aspect of a member country economy, the monthly questionnaire covers crude oil and gas production, export and refineries evaluation.
He further revealed that Nigeria had started turning out timely and accurate data in the past three years after being one of the backward member countries in data generation for OPEC.
He said: “ The accuracy and timeliness of our data have improved tremendously in recent years and OPEC is happy with us. Out data submission has improved tremendously.”
He said OPEC does not concern itself with agencies that generate the data and that it was left for the member country to harmonize the date from various sources and forward to OPEC.
Speaking also, Executive Secretary of the PTDF, Dr Bello Aliyu Gusau, restated that the workshop was important because OPEC relies on member countries for accurate, reliable and timely data to effectively carry out its mandate.
He said the training workshop would acquaint officers of the benefitting agencies the requisite knowledge on the functionality of the new template.
He said: “Indeed, for the PTDF, this workshop offers an opportunity for the expression of our strategic objectives to engage more effectively with key players of the oil and gas industry by making valuable contributions that will further enhance capacity building of personnel and operators in the industry.
“ In alignment with the national policy in the industry, PTDF restrategise to focus on six priority areas, one of which is the development of centres of excellence to ensure that the value derivable from its capacity building interventions are retrained in-country.”

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