Saudi Arabia consults Nigeria on stabilizing global oil prices

The Minister of Petroleum, Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al-Falih has recently held talks with the Federal Government of Nigeria as parts of effort to bring about a stabilisation in the crude oil price and in the international crude oil market.

Minister of State for Petroleum Resources, Dr. Emmanuel Kachikwu and Saudi Arabian Energy Minister, Khalid al-Falih during a visit to the Minister of Petroleum Resources, Mr. Ibe Kachikwu, in Abuja, Al-Falih said Saudi Arabia was in consultation with Nigeria and a host of other countries, to address the volatility in the global crude oil market.

Kachikwu disclosed that the Federal Government was seeking ways to collaborate with Saudi Arabia to revamp Nigeria’s refineries and also restructure the downstream sector of the Nigerian petroleum industry.