OPEC’s Barkindo invites 97 oil producing countries to join Charter of Cooperation
By Trend
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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