Latest news with #TariqAlRoumi
Zawya
3 days ago
- Business
- Zawya
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. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Zawya
29-05-2025
- Business
- Zawya
Kuwait reaffirms backing to global oil market stability
KUWAIT -- Minister of Oil Tariq Sulaiman Al-Roumi reaffirmed Wednesday Kuwait's steadfast support for all efforts aimed at enhancing the stability of the oil market. He also reiterated Kuwait's commitment to supporting a policy of cooperation to ensure the sustainability of market balance and secure energy supplies, according to a press statement issued by the Ministry of Oil. The Ministry said that Minister Al-Roum made these remarks during his participation in three virtual meetings held today: the 60th OPEC + Joint Ministerial Monitoring Committee, the 39th OPEC + Ministerial Meeting and the 191st OPEC Ministerial Conference. The Minister of Oil stated that the meetings are being held at a critical time for global markets amid increasing challenges. "This necessitates enhanced joint coordination among countries within the framework of the OPEC+ Declaration of Cooperation and the adoption of well-considered decisions that support the stability of global oil markets," he argued. He pointed out to the OPEC Secretariat's assignment to develop a mechanism for assessing the sustainable production capacity of member countries participating in OPEC+, to be used as a reference basis for determining production quota levels in 2027. In addition to the Minister of Oil Al-Roum, the Kuwaiti delegation which participated in the meetings included Kuwait's Governor to OPEC, Mohammad Khudr Al-Shatti, and Kuwait's National Representative to OPEC, Sheikh Abdullah Sabah Salem Al-Hamoud Al-Sabah. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
