By IANS
Riyadh : The third summit of the leaders of members of the Organization of Petroleum Exporting Countries (OPEC) will begin in this Saudi Arabian capital with focus on security of petroleum supplies.
The two-day summit will have a great impact on the solidarity of OPEC and on the international cooperation in the field of petroleum and energy, Minister of Petroleum Ali bin Ibrahim Al-Naimi said.
The heads of state of OPEC member states will convene in Riyadh in response to an invitation from the custodian of the two holy mosques, King Abdullah bin Abdulaziz of Saudi Arabia, according to WAM news agency.
“This summit has a special importance because it is convened in the kingdom — the biggest oil producing country in the world, and also because the kingdom has been adopting moderate policies,” Al-Naimi added.
He noted that Saudi Arabia was keen on promoting cooperation among OPEC members, between OPEC and non-OPEC oil producing countries as well as fostering cooperation with the consuming countries.
He said the summit would focus on security of petroleum supplies, contribution to the prosperity of the nations through economic growth, notably the economies of the developing countries in addition to the problem of environment.
The summit will be characterized by wide-ranging activities accompanying the summit, the international exhibition of petroleum and gas as well as the international petroleum seminar.