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Volume
44
Issue
2
7
global oil market due to their hugeoil reserves. He
also reviewed OAPEC endeavours to encourage
petroleum industry cooperation between the
member countries via establishing a group of
Arab joint ventures; conducting technical and
economic studies, as well as, its active presence
and efforts at international and regional energy
forums.
On his part, OPEC Secretary General HE
Mohamed Barkindo talked about current
developments in the global oil market following
the Vienna OPEC- non-OPEC members deal
on curbing oil production. He clarified the
importance of cooperation between all parties
in order to rebalance the market.
GECF Secretary General HE Yury Sentyurin
tackled the gas market and its close connections
to the oil market. He explained that the electricity
sector is the biggest gas consumer followed by
the industrial and petrochemicals sectors.
Thanking Letter
HE Eng. Tarek El Molla, Egypt’s Minister of Petroleum andMineral Resources
sent a thanking letter to HE Abbas Al Naqi, OAPEC Secretary General,
expressing thanks and appreciation for HE Al Naqi’s participation in EGYPS
2018. HE Al Molla hailed HE Al Naqi’s contribution to the panel and wished
him and OAPEC further progress and development.