By: Taarek Refaat
CAIRO, Dec. 23 (SEE)- Minister of Petroleum & Mineral Resources Tarek El-Molla led on Sunday Egypt's delegation to the 101st Ministerial Conference of the Organization of Arab Petroleum Exporting Countries (OAPEC) in Kuwait.
UAE Minister of Energy Suhail Al-Mazroui presided over the meeting, which was attended by
petroleum and energy ministers and representatives of Saudi Arabia, Kuwait, Bahrain, Iraq, Algeria.
El-Molla said that the conference represents great opportunity to activate the cooperation between the Arab countries in the oil and gas industry on the basis of mutual benefit.
"The conference enhances Arab integration in this vital industry and provides an opportunity to exchange experiences over the ongoing developments in international markets prices," he added.
On the sidelines of the ministerial meeting, El-Molla held bilateral talks with oil ministers during which he discussed opportunities to enhance cooperation with Arab countries in the fields of oil and gas.
In light of the growth witnessed in Egyptian petroleum activities in recent years, ministers also conducted consultations on the constant fluctuations in the world oil markets and the nature of their effects on the sector in the Arab world.
Ministers discussed the ratification of the minutes of the 100th meeting, which was held at the level of delegates in Kuwait last April, as well as the adoption of the organization's 2019 draft budget.
They also reviewed the secretariat's reports on the proceedings of the 11th Arab Energy Conference held in Morocco last October.
The meeting stressed on the follow-up of the recommendations of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), as well as enhancing the data Bank.
The Ministerial Council decided to hold the next conference in Kuwait on December
22.
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