DOHA: The Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada has appealed to member countries of the Organisation of Arab Petroleum Exporting Countries (OAPEC), to upgrade the level of coordination among them during oil exploration and extraction processes.
The Minister, who has been elected president of the ongoing meeting of the council of ministers of the OAPEC, made the statement during the start of the 95th meeting of OAPEC council of Ministers in Cairo yesterday.
It is imperative to deal with prevalent obstacles related to petroleum and gas production on both local and international levels, Al Sada said.
“We meet here today amidst difficult times for petroleum and gas production in the Arab world and on an international level. There has been a sharp increase in the supply of oil due to unconventional and costly projects. As a result of stalled international economic growth, the gap between supply and demand has been widened, causing an unprecedented spike in the oil prices”, agencies quoted Dr Al Sada as saying.
“It is now time to employ the latest technological means to enhance oil production and extraction while using the latest- environmental friendly methods”, he added.
The meeting seeks to tackle a host of issues of mutual concern amongst OAPEC nationals, including 2016 budget.
Al Sada also noted that the meeting will review the contributions that Arab OAPEC nationals have made to the petroleum sector.
Qatar is participating in the meeting with a delegation headed by Dr Al Sada.
The Peninsula
