The Arab Energy Conference, which was supposed to take place in 2022, has been postponed to 2023, Minister of Energy of Algeria, President of the OPEC conference Abdelmadjid Attar said at the 105th meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) held in a videoconference format.
According to him, the XII Arab Energy Conference, scheduled for 2022, has been postponed to 2023. The meeting participants decided to postpone it due to new global changes and unclear prospects for the future, Attar said.
He added that during the meeting, the ministers of the OAPEC member countries reviewed reports on the state of the world oil market and energy transformation in the world, in particular, issues related to the development of renewable energy sources and their impact on oil exporting countries and energy consumption, TASS reports.
In addition, it was decided that Saudi Arabia will chair OAPEC in 2021. According to Attar, it is necessary to continue coordination between Arab countries - oil exporters in order to promote cooperation in the development of oil fields, implementation of joint projects, and the settlement of the global oil situation.
OAPEC was established in 1968. It currently has 11 members: Algeria, Bahrain, Egypt, Iraq, Qatar, Kuwait, Libya, UAE, Saudi Arabia, Syria, and Tunisia.