Kuwait’s hosting of OAPEC reflects keenness on boosting joint Arab action – Oil min.

Kuwait’s hosting of the premises of the Organization of Arab Petroleum Exporting Countries (OAPEC) is part of the country’s keenness to promote the joint Arab action in all aspects, Kuwait’s Minister of Oil, and Minister of Electricity and Water Essam Al-Marzouq has stressed.

The minister made the statement on Saturday in a speech during a celebration marking the Gold Jubilee of OAPEC.

He said that Kuwait has been seeking to provide the best facilitations required to moral and financial support for the organizations working in the joint Arab action to benefit the Arab countries.

Al-Marzouq, His Highness the Prime Minister’s representative, said that “we in Kuwait are sure that concerted efforts by member states and their positive cooperation will enable OAPEC to achieve its mission perfectly.

“We are aware that the petroleum industry is facing unprecedented challenges and developments,” he added, calling for further coordination between both oil-producing and oil-exporting countries at the regional and international levels to overcome these challenges.

“On behalf of His Highness the Prime Minister, the sponsor of the celebration, I would like to welcome all of you in your second country, Kuwait. I would like to express my great appreciation to you for attending the 50th anniversary of the OAPEC.” The convention of OAPEC’s establishment was signed in the city of Beirut on the ninth of January 1968.

The minister noted that OAPEC has been one of the key and vital aspects of cooperation and joint Arab action as it encourages cooperation and coordination among member states in various aspects of economic activities in the oil and gas industry.

Under instructions of its member states and bodies, the organization has worked on implementing several projects and successful activities, topped with the establishment of a group of Arab companies, he made clear.

This will contribute to solving problems and overcoming challenges facing Arab petroleum industries on the one hand, and to maintaining stability of the international markets on the other hand, he stated.

It also contributes to organizing specialized scientific conferences and seminars, scientific research awards and annual coordination meetings between specialists in member countries and Arab and international organizations specialized in the petroleum industry, he explained.

He pointed to the organization’s contributions to supporting efforts of Arab oil culture through its distinguished media publications as well as efforts in regional and international forums through positive and fruitful cooperation with international organizations, research centers and international studies specialized in energy, oil and gas.

Al-Marzouq thanked OAPEC Secretary General Abbas Al-Naqi and staff for their big efforts in preparing and organizing the festival and other official meetings currently held in Kuwait.

Source: kuwait news agency