Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Al-Naimi: Energy markets becoming more complex  Join our daily free Newsletter

MENAFN - Arab News - 18/05/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab News) Petroleum and mineral resources minister ali al-naimi called on all countries in the world to support and cooperate with the international energy forum (ief) so that it enables to achieve its purpose and boost it structures at the regional and international levels.

'i think there is an argument to take the ief to the level of a full international organization which will reflect the vital importance of energy in the present world" al-naimi said in his key note address at the 14th international energy forum in moscow carrying the theme the new geography of energy: business as usual or a new era for energy supply and demand the saudi press agency reported.

stressing the relevance of an organization like the ief al-naimi said: ''the ief's strength comes from its non-political nature. it is not producers against consumers. it is not north versus south. it is not the west versus the east. i believe it is already playing a truly positive role in global energy affairs and it is needed now more than ever."

al-naimi said: 'the world is changing the global economy is expanding and the global middle class is increasing. this rising level of prosperity is having a fundamental impact on long-term global energy demand. so it is clear to me that the energy challenges of the 21st century will not be business as usual."

he continued: 'new sources of energy are coming on stream technological innovation is increasing and global energy markets are becoming ever more complex. mitigating supply disruptions and understanding demand growth are global issues. we can only fight climate change together."

no single country can ensure global energy poverty is eradicated. achieving these shared goals requires the countries of the world to enter a new era of cooperation and transparency with new thinking and creative solutions he said.

'over time the ief has become an ideal place for testing new ideas and exploring the possible impacts of new energy developments. the joint organizations data initiative has brought a step-change in terms of the integrity of data — vital for oil market stability. it is increasingly gaining acceptance and trust" he said.

today there is a new geography of energy. it cannot be business as usual. we are grappling with issues that simply were not on the agenda 40 years ago he said.

so energy is vital and it requires the highest priority. all nations can commit themselves to working with the ief to enhance its purpose and structures regionally and internationally. clearly it could be leaner and stronger he added.

energy will continue to be the foundation for economic growth and development around the world. we all need modern forms of energy to live.

'we need energy to help feed us clothe us and keep us warm — or in our case cool. we need it to help educate our young people for transport and to enable mankind to communicate like never before" the minister said.


Arab News

  MENA News Headlines
 Oct 6 2015 - Abu Dhabi s NBAD is 1 for GCC bonds DealogicEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) --- National Bank of Abu Dhabi (NBAD) the Safest Bank in Emerging Markets and the Middle East by Global Finance magazine is ...

 Oct 6 2015 - ADEC offers public school students an After School Support ProgrammeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) -- The Abu Dhabi Education Council ADEC has organised an "After School Support Programme" for students for the 2015/2016 ...

 Oct 6 2015 - Four UAE soldiers martyred in AdenEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) -- The General Command of the UAE Armed Forces has announced the death of four of its brave soldiers in Aden during their ...

 Oct 6 2015 - UAE- Ajman Ruler congratulates Egyptian PresidentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN 6th October 2015 (WAM) -- H.H. Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has sent a cable of congratulations to the ...

 Oct 6 2015 - UAE Ambassador to Bahrain attends mass weddingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) MANAMA 6th October 2015 (WAM) --- Ambassador of the United Arab Emirates to Bahrain Abdul Redha Khouri recently attended a mass wedding for 202 couples with ...

 Oct 6 2015 - Dubai repays US500 million bonds certificatesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2015 (WAM) -- The Government of Dubai acting through the Department of Finance has announced that the US$ 500 million Fixed Rate Note ...

 Oct 6 2015 - UAE- Emirates Airline offers special A380 fares to a host of destinationsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2016 (WAM) --- Travellers in the UAE gearing up for year-end trips can now enjoy special fares to a host of destinations served by the ...

 Oct 6 2015 - UAE-MENA healthcare providers to spend US2.73bn on IT products services in 2015Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai 6th October 2015 (WAM) - Healthcare providers in the Middle East and North Africa will spend US$2.73 billion on IT products and services in 2015 ...

 Oct 6 2015 - Dhahi Khalfan opens 2015 edition of Critical Communications Middle East in DubaiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai 6th October 2015 (WAM) - Lieutenant General Dhahi Khalfan Tamim Deputy Chairman of Dubai Police and General Security led the opening ceremony of the ...

 Oct 6 2015 - Emirates Transport to purchase 722 new buses worth AED 180mn to meet growing demand for school transport servicesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2015 (WAM)Hussain bin Ibrahim Al Hammadi Minister of Education and Chairman of Emirates Transport has approved the purchase of 722 new ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help