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The Opening of the 15th International Energy Forum Ministerial (IEF)

Source: www.gulfoilandgas.com 9/27/2016, Location: Egypt

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Eng. Tarek El Molla participated in the proceedings of the 15th International Energy Forum Ministerial (IEF) , inaugurated in the Algerian capital Algiers, on 26th of September 2016, which was considered an important timing regarding the challenges oil and gas markets face. These challenges forces both producers and consumers to continue enhancing the dialogue between them and to study all the factors that affect the stability of the markets as well as prices fluctuations which in turn will have great impacts on the economies of both producing and consuming countries & the world economy in general .

The Minister of Petroleum conducted a series of talks with a number of energy and petroleum ministers as well as a number of foreign economic institutions’ officials, where he discussed with the Energy Minister of Algeria, Noureddin Botarfa, the bilateral relations between Egypt and Algeria and reviewed the aspects of joint cooperation, the outlook of supporting such cooperation in the coming period, the developments of the oil and gas markets and the efforts of both OPEC and Non- OPEC member countries to achieve balance .

Also, the Minister met with the Forum Secretary General Dr. Sun Xiansheng as they reviewed the Petroleum Sector work program, currently, being implemented for the purpose of encouraging international companies to pump investments besides reviewing the recent discoveries in the Mediterranean, the Delta and Western Desert regions .

Moreover, the Minister met with the officials of the International Energy Forum headed by Roberto Boka the President of the energy department. Also, he held talks with the Saudi Minister of Energy, Industry and Mineral Resources Eng. Khaled Al Falih where they exchanged point of views about the aspects of joint cooperation in the field of Petroleum between Egypt and Saudi Arabia. In addition, he met with the Kuwaiti Acting Oil Minister Mr. Anas Al Saleh in which they reaffirmed the continuous cooperation between the two countries especially in the field of supplying crude oil and petroleum products to Egypt as well as coordination to increase the participation of Kuwaiti companies in exploration oil activities.

Furthermore, the minister reviewed with Venezuelan Petroleum Minister, Eng. Eulogio Del Pino, the status of the international oil markets and also held a meeting with Petrojet Company workers in the Algeria branch in which they discussed the current projects being implemented in favor of the Algerian company Sonatrach, valued at about $185 million .

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