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| Today: 10 September 2010 Time: 10:56 PM |
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| World''s oil reserves on the increase -- OPAEC chief |
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| Power & Materials 11/11/2009 5:55:00 PM |
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KUWAIT, Nov 11 (KUNA) -- Secretary-General of Organization of Arab
Petroleum Exporting Countries (OPAEC) Abbas Naqi denied on Wednesday the
reports that the world's oil reserves were on decline.
Speaking to KUNA here, Naqi said: "All estimates show that the oil reserves
in many parts of the world, notably the OAPEC member countries and the Arabian
Gulf region, are on the increase."
He highlighted the importance of maintaining strong demand on oil in the
medium and long runs and pumping billions of US dollars into investment in the
oil industry particularly the exportation, refinery and petrochemical projects.
"Some oil importers impose taxes, sometimes high, on oil, and the other
fossil fuel, imports which arouses our concern," he said.
"Oil is not a depleting source of energy. On the contrary, it will remain
the major source despite the campaigns of some economic blocs to control
reliance on it under the pretext of environment protection," Naqi affirmed.
"We hope that the enforcement of the United Nations Framework Convention on
Climate Change (UNFCCC) and the UN Climate Change Conference, due in
Copenhagen between December 7 and 18 would not lead to more taxes on fossil
fuel.
"Such a move could result in negative impacts on demand, thus shrinking the
revenues and hampering investment in the oil sector as well as the overall
development process in the oil exporting countries in the long run," he
cautioned.
"How can the oil exporters realize sustainable development without
sufficient revenues?" he wondered.
As for the environment issue, Naqi said: "Some oil importers have
conflicting approaches to the use of fossil fuel."
"While they impose taxes on oil imports, they offer large subsidy to their
coal industries which are more polluting than oil," he noted.
OAPEC and the Organization of the Petroleum Exporting Countries (OPEC) keep
close contacts to coordinate their stances in the international forums on
climate change.
The representatives of both organizations meet on a daily basis to discuss
issues of common concern, he went on to say.
Regarding the prices, the OAPEC chief said a fair price is conducive to
economic growth and is in favor of producers and consumers alike.
"A fair price can ensure cash supplies for producers to invest in the oil
sector and maintain sufficient oil supplies to the markets," he said.
The OAPEC will convene its 83rd ministerial meeting in Cairo on December 5
under the chairmanship of Egyptian Minister of Oil Sameh Fahmi.
The agenda of the meeting includes the adoption draft budget of the
organization for 2010, the honoring of the winners of the OAPEC scientific
award for 2008, Naqi disclosed, noting that the theme of the award is the
extraction and storing of dioxide carbon.
The meeting will be preceded by the 125th meeting of OPAEC's executive
office on December 2-3, Naqi added. (end)
ash.ahj.rf.gb
KUNA 111755 Nov 09NNNN
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مجلس الوزراء
اللجنة العليا للتحضير للاحتفال بالذكرى
الـ(50)
لاستقلال دولة الكويت و الذكرى الـ (20)
لعيد التحرير
اعـــــــــــــــــــلان
فى إطار الاستعدادات و الترتيبات الجارية للإعداد و التحضير للاحتفال
باليوبيل الذهبي للاستقلال و مرور
(20) عاما على تحرير دولة الكويت و انطلاقا من
حرص اللجنة العليا على إشراك كافة قطاعات الدولة فى الاحتفال بهاتين المناسبتين
الوطنيتين
يسر اللجنة الإعلامية المنبثقة عن اللجنة العليا دعوة من يرغب من مؤسسات و
شركات القطاع الخاص و الاتحادات التجارية و الاستثمارية للمشاركة في الأنشطة و
الفعاليات المقرر تنظيمها فى شهر فبراير من العام القادم 2011م
للاستفسار والتنسيق ومزيد من التفاصيل :
1- مكتب مقرر اللجنة الإعلامية:
هاتف: 22462289
فاكس: 22462296
2- البريد الإلكتروني:
kuwait5020@media.gov.kw
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