OPEC Secretary General Mohammad Sanusi Barkindo has invited all 97 oil producing countries to join the Charter of Cooperation.
He made the remarks at the 16th Annual Meeting of the Valdai Discussion Club, Special session on energy- “World Energy Markets: How to Avoid Instability and Ensure a Balance of Interests”, in Sochi, the Russian Federation, Trend reports citing OPEC’s website.
Barkindo noted that the ‘Charter’ is a platform to facilitate dialogue among the Participating Countries, aiming to promote oil market stability, cooperation in technology and other areas, for the benefit of oil producers, consumers, investors and the global economy.
“It is a means of enabling the long-term use of oil as a key component in the evolving global energy mix, as well as improving the environmental and efficiency credentials of oil. The ‘Charter’ will promote strategies and technologies to advance the global oil industry. Our 24 participating countries of the DoC have chosen the path of cooperation; the path of dialogue, the path of transparency and openness. The ‘Charter’ crystalizes these intentions and provides them with an overall framework,” noted Barkindo.
“The ‘Charter’ can steer us through challenges we may face in the future. This is especially apparent given the fact that our industry is often vulnerable to external shocks beyond the capacity of any one stakeholder to control: geopolitics; trade tensions; monetary policy; natural disasters and other factors. However, the ‘Charter of Cooperation’ is a sturdy ship, which can navigate these tempestuous waters. Therefore, further and more intensified cooperation is the best prescription to treat volatility. For this reason, participation in the ‘Charter’ is voluntary and open to all producing countries. I would like to extend the hand of friendship to all 97 oil producing countries and invite them to join the ‘Charter of Cooperation’ as we seek to build a better world.”
The Charter of Cooperation is a high-level voluntary commitment, to enable the continued proactive dialogue between countries in the Declaration of Cooperation at both ministerial and technical levels.
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