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21:10 GMT
Dr. Khaled Al-Fadhel during the meeting
CASABLANCA, Jan 23 (KUNA) -- The International Exhibition of Petroleum and Gas Products (PETROLIA EXPO) kicked off Thursday in Morocco.
The conference brings together energy officials, companies, institutions, experts and businesspersons from several countries including Kuwait, whose delegation is headed by Minister of Oil, and Minister of Water and Electricity Khaled al-Fadhel.
In an inaugural speech, Moroccan Minister of Energy, Mining and Sustainable Development Aziz Rabbah said the congress aims to promote cooperation and share experiments amongst workers in the energy, oil and gas fields.
He stressed the importance of the Moroccan market as an oil and gas consumer, noting that Morocco's consumption worth roughly USD nine billion.
Meanwhile, Kuwait's Minister al-Fadhel pointed to Morocco's efforts in oil and gas exploration.
He said that Morocco has made strides in oil exploration, adding that this will help the country play a promising role in the future.
He dismissed what has been circulated about a decline in demand for oil and gas as "untrue".
This does not mean abandoning alternative and renewable energies as they are linked to environmental protection and the preservation of resources, he said.
Furthermore, Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Abbas Al-Naqi said the Arab countries' reserves make up 48 percent of the global oil reserve, and 16 percent of world gas reserve.
He pointed to challenges facing oil industry, stressing the need of concerted efforts to meet the markets' needs.
He said future expectations note that the fossil fuel will maintain its leadership, with two thirds of the world's needs by 2040. (end)
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