Egypt

Egyptian Proposal to Increase Cooperation and Experiences Exchange in Africa Has Been Approved

Published on : 2020-06-16

Eng. Tariq Al Mulla, Minister of Petroleum and Mineral Resources, participated in the 38th Ministerial Conference for the Organization of African Petroleum Producing Countries via videoconference technology in the presence of oil and energy ministers from 15 of the 18 member countries to discuss the developments facing the global oil industry and its impact on the industry African oil during Coronavirus pandemic and the negative impact on the stability of the oil market and a discussion of mechanisms and ways to confront these challenges, pointing to the importance of coordination and cooperation with the OPEC + group in which a number of African oil-producing countries participate in order to restore balance to world oil prices.

The Minister indicated that the oil and gas industry is one of the most important pillars of the African economies, as they represent contributions to achieving the comprehensive development of their people, stressing Egypt's great interest in cooperating with the countries of the continent and putting all its experiences gained over years in the field of the oil industry to achieve the common interests between the organization's countries.

The conference witnessed the approval of the Egyptian proposal, which Al-Mulla discussed in his speech to establish a working group to increase cooperation between members and advance the African oil industry by taking advantage of the capabilities available in a number of member states, including Egypt. The Ministerial Council also agreed to choose Egypt to lead the partnership Between the African Petroleum Investment Corporation, the Arab Petroleum Investment Corporation, and the African Export Development Bank.

The minister added that the closing statement of the conference agreed to establish a permanent headquarters for the organization in Brazzaville, Republic of the Congo, and prepare a detailed study by 5 members and the recommendations of Paris Climate Conference, noting that The negative impact of the increase in smuggling of crude oil and petroleum products on the Libyan citizens and the Libyan environment has been discussed, condemning these actions and inviting the international community to take the necessary measures in this regard.

Al-Mulla indicated that Egypt is a founding member of the African Organization since its establishment in 1987.

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