7th OPEC Int’l Seminar kicks off in Vienna

The 7th OPEC International Seminar kick started in Vienna, Austria, Wednesday under the theme, “Petroleum – cooperation for a sustainable future”.

Kuwait’s Minister of Oil and Minister of Electricity and Water Bakheet Al-Rashidi is taling part in the two-day major event.

The seminar, held at Vienna’s Imperial Hofburg Palace, provides fresh impetus to key petroleum industry issues and challenges, helping to enhance existing avenues of dialogue and cooperation, while stimulating new ones. The event features presentations by officials from energy and oil ministries, executives from oil companies and financial firms, and other representatives from international organizations and research institutions. It also seeks to reinforce OPEC’s longstanding commitment to strive towards a secure and stable market in support of a healthy global economy. It will also highlight the need for continuing promotion of cooperation and dialogue with all oil industry stakeholders, including producers and consumers.

The seminar is held every three years and brings together experts and decision makers of the oil industry to exchange views on its present and future, as well as the challenges of the world’s power market, minister Al-Rashidi told KUNA on the sideline of the Vienna gathering.

He stressed the importance of the 2018 seminar that offers producers and consumers the chance to discuss the best strategies to maintain stability of the market.

Al-Rashidi pointed to Kuwait’s active participation in the international seminar through the country’s ministry of oil.

The Kuwaiti minister will address the second day of the seminar and will also hold meetings with participant decision makers.

Source: Kuwait News Agency