Quotes: US 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.


 






  MENA News Headlines
 Jul 29 2014 - New additions to Local Harvest brand of datesKhaleej Times
(MENAFN - Khaleej Times) E dates come from farmers who have contracts with ADFSC and therefore practise date palm farming according to the centres standards.For the next three weeks the Abu Dhabi ...

 Jul 29 2014 - PayTabs to launch online solutions in Bahrain, SaudiMENAFN
(MENAFN) PayTabs, a payment processing solution company co-owned by Saudi Aramco, is set to launch its online payment processing solutions in Bahrain and Saudi Arabia, Gulf Daily News reported.The ...

 Jul 29 2014 - Mobily signs LTE-4G roaming deal with BatelcoMENAFN
(MENAFN) Mobily telecom has signed an LTE-4G roaming deal with Bahrini Batelco to provide customers with advanced Internet services, Arab News reported.This agreement coincides with Eid Al-Fitr ...

 Jul 29 2014 - Radiant During RamadanMuscat Daily
(MENAFN - Muscat Daily) Keep your skin and hair glowing and shiny even as you're fasting in this holy month. Some tips... Moisturise Your skin too gets dehydrated when you fast. It is ...

 Jul 29 2014 - Nawras net profit grows 23 in H1Muscat Daily
(MENAFN - Muscat Daily) Omani Qatari Telecommunications Co SAOG (Nawras) on Wednesday said net profit for the first half of 2014 rose 23 per cent, driven by higher earnings before interest, taxes, ...

 Jul 29 2014 - Duqm Airport takes offMuscat Daily
(MENAFN - Muscat Daily) The newly opened Duqm Airport received its first Oman Air flight ahead of schedule on Wednesday with officials saying that the facility will serve as an air transport and ...

 Jul 29 2014 - Air fares rise by 35 as travellers rush to make the most of long breakMuscat Daily
(MENAFN - Muscat Daily) Fares of most airlines have gone up due to the increase in demand during Eid al Fitr holidays. The prices of tickets to different destinations have gone up by nearly 35 per ...

 Jul 29 2014 - MoHC invites bid for construction of $250mn Oman Cultural ComplexMuscat Daily
(MENAFN - Muscat Daily) After announcing the appointment of the UK-based international consultancy and construction company, Mace as project manager for the Oman Cultural Complex (OCC), the Ministry ...

 Jul 29 2014 - Moon sighting expected on Monday eveningMuscat Daily
(MENAFN - Muscat Daily) The crescent of the new moon is expected to be visible on Monday evening across all governorates in the sultanate, marking the beginning of the month of Shawwal, according to ...

 Jul 29 2014 - Pakistan's film industry becomes alive againArab News
(MENAFN - Arab News) HORE: A breed of brand new independent filmmakers is successfully filling the void left by an obsolete industry known as Lollywood.In many ways 2013 was an era-defining year for ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help