Libyan Investment

OPEC 161 ministerial meeting Held

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Monday, 18 June 2012 10:23

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With the presence of the Minister of Oil and Gas, Abdulrahman bin Yaza, the Organization of Petroleum Exporting Countries (OPEC) held the 161 ministerial meeting in Austrian capital Vienna on Thursday 14/06/2012.

The Conference came across the report of the Secretary-General of the Organization, as well as the report of the Economic Commission on price movement and their expectations, as it exchanged the views on environmental protection and the Organization's cooperation with the European Union and between FAO and other international organizations such as the Organization of Arab Petroleum Exporting, and the Organization of African oil-producing and Exporting Countries Forum for the gas and the International Energy Forum and the International Energy Agency as well as the organization's participation in United Nations Conference on Sustainable Development which  will be held in Rio de Janeiro on 20 of this month.

With regard to the production limit set by the Organization, the Conference stressed that Member States should adhere to the production limit of 30 million barrels.
The Conference decided that the next meeting will be in Vienna, Austria, on Wednesday the twelfth of December.

Wednesday morning  13/06/2012, the fifth International Forum on oil-producing countries (OPEC) was initiated to discuss the issues of oil markets, prices, challenges and protection of the environment in the petroleum industry as well as discussion of coordination between the oil-exporting countries and consuming ones.

Abdulrahman bin Yaza presented a paper on the development of production in Libya and the achieved recorded results after the success of the revolution of February 17 and the great efforts made by national workers  in achieving this.