Qatar Oil Min urges response to petroleum, gas obstacles

It is imperative to deal with prevalent obstacles related to petroleum and gas production on both local and international levels, Qatari Minister of Energy and Industry Dr Mohammad AlSada said on Sunday.

Al-Sada, who has been elected President of the ongoing meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC), made the statement during the start of the 95th meeting of OAPEC Council of Ministers in the Egyptian capital, Cairo.

“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 widened, causing an unprecedented spike in oil prices,” Al-Sada said.

“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 on Sunday seeks to tackle a host of issues of mutual concern amongst OAPEC nations, including the 2016 budget.

Al-Sada also noted that the meeting will review efforts and contributions that Arab OAPEC nation have made to the petroleum sector.

Kuwait is participating in the meeting with a delegation headed by Assistant Undersecretary of the Ministry of Oil Sheikh Talal Nasser AlAthbi Al-Sabah. (KUNA)