3 days ago
Kuwait committed to ensuring energy security
VIENNA -- The State of Kuwait has reiterated its obligation to guarantee energy security in the world.
This was announced in a speech delivered by Minister of Oil and Chairman of Kuwait Petroleum Corporation (KPC) Tariq Al-Roumi on Wednesday before the Ninth OPEC International Seminar in the Austrian capital, Vienna.
Kuwait called for boosting investments in future energy projects and adopting solutions to reduce emissions and push for an efficient system of energy, the minister said.
Holding this international event comes at an critical phase, which witnesses accelerating challenges in energy sector, mainly in light of regional and international changes, he noted.
OPEC continues efforts for markets stability through achieving balance between demand and supply, and boosting partnership with non-OPEC producers through OPEC+ alliance, he pointed out.
During the first ministerial session, the minister underlined the significance of keeping market stability to achieve energy security and support global economic growth.
Meanwhile, KPC deputy chairman and CEO Sheikh Nawaf Al-Saud Al-Sabah stressed commitment to ensuring reliable and stable supplies of crude oil and friendly environment products.
The Corporation is able to adapt to market changes through a flexible and innovative approach to show its accomplishments, development and expansion in petrochemicals, he pointed out.
The KPC is partaking in an exhibition, during the seminar, through an integrated pavilion on the most outstanding features of its 2040 strategy.
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