Organization of Arab Petroleum Exporting Countries
Volume 40 Issue 5
14
OAPEC Activities
Under the auspices of the Greek Presidency
of the Council of the EU and the Arab League,
The Economist organised on 5 and 6 May a
2-day event entitled “Europe and the Arab
World: Strengthening Political, Business and
Investment Ties”.
The Conference discussed a number of issues
focusing on the impact of the Arab region’s
political developments in the past few years
on the European – Arab political, cultural and
business relations. Here are the most significant
topics that have been tackled during the sessions:
The Arab World’s economic horizons
• Europeand theArabWorld: strengthening
political, business and investment ties
• The importance of the Mediterranean
Region in linking Europe and the Arab
World
• Enhancing economic relations between
the Arab World and Europe to support
the Greek economy
• Energy policies: a main sustainable
development player
• Infrastructure and road projects in the
Arab World
OAPEC Secretary General HE Abbas Ali Al
Naqi took part as a keynote speaker in “Energy
Prospects in the Arab Region” session. He gave
a comprehensive presentation on the oil and gas
industry on both Arab and international levels.
HEAl Naqi gave a presentation on the status quo
and future prospects of energy in the OAPEC
member countries. He clarified that petroleum
industry cooperation among member countries
was the main goal of the organization.
HE the Secretary General has enlisted
Arab joint ventures among OAPEC member
countries which included: Arab Maritime
Petroleum Transport Company (AMPTC), Arab
Shipbuilding and RepairYard Company (ASRY),
Arab Petroleum Investments Corporation
(APICORP), Arab Petroleum Services Company
(APSCO); in addition to the Arab Petroleum
Training Institute (APTI).
HE Mr Al Naqi has clarified that Arab
countries play a major role in meeting the
increasing international energy demand as
they have about 57% of the world’s proven oil
reserves, about 32% of global oil production,
about 29% of proven natural gas, and about 17%
of global production (marketed).
According to most specialized agencies and
international organizations, it is expected that
global energy demand would grow by 52%
during 2010 and 2035. Renewable wind, solar,
and geothermal energies are expected to grow
by more than 7% per year conditioned by the
amount of government support and incentives.
HE Al Naqi reiterated the fact that OAPEC
member countries would continue to play their
role as secure and stable oil and gas suppliers
due to their hard efforts in increasing their
production capacities and developing their
petroleum facilities.
The conference topics were of vital
importance to the European side due to the Arab
region’s strategic importance and the EU’s will
to enhance political and economic relations
with Arab countries. In order to achieve this
goal, efforts are focused on creating a stable and
secure investment climate in the Arab region.
With the Participation of OAPEC Secretary General
The Economist event: “Europe and the Arab World:
“Strengthening Political, Business and Investment Ties
