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Minister Al-Fares participates in the ministerial dialogue symposium at ADIPEC 2021 exhibition and conference

15-11-2021

Participants in a panel discussion on the new world of energy, on the sidelines of their participation in the opening of the Abu Dhabi International Petroleum Conference and Exhibition (ADIPEC 2021) today, Monday, affirmed that the market atmosphere is optimistic during the next year, indicating that the future of energy is promising in the coming year, especially after recovering from a pandemic ( Corona). The panel discussion was attended by Kuwaiti Minister of Oil and Minister of Higher Education Dr. Muhammad Al-Faris, UAE Minister of Energy and Infrastructure Suhail Al-Mazrouei, Nigerian OPEC Secretary-General Muhammad Barkindo, Omani Oil and Gas Minister Muhammad Al-Ramahi and Guinean Energy Minister Gabriel Lima. They stressed the importance of (OPEC +) in achieving market balance by setting up a clear mechanism that takes into account the expectations of 2022. They drew attention to the role of producers in continuing to invest to raise production capacity and ensure adequate supplies for the market, as well as investing in clean energies and their production and reducing emissions, stressing the need to advance peoples and improve their living standards. Regarding the call to stop investing in fossil fuels, the participants said that this is not in the interest of stabilizing markets, especially in light of expectations of high demand for fossil fuels. They pointed out that developing countries, including Africa, need to invest in raising their production of oil and gas to ensure the upgrading of living standards and the economy. Al-Fares' participation in the seminar comes within the activities of the conference, which will continue until the 18th of November in Abu Dhabi, and is a week of major milestones in the oil and gas industry. ADIPEC 2021 will be held under the patronage of UAE President Sheikh Khalifa bin Zayed Al Nahyan, who deputized for him at the opening ceremony, Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan, with the participation of more than 30 ministers from different countries, heads of oil companies and specialists. Al-Fares headed the participating Kuwaiti delegation, which includes the CEO of the Kuwait Petroleum Corporation, Hashem Sayed Hashem, and the Governor of Kuwait at (OPEC) Muhammad Al-Shatti.