Venezuela oil minister calls Qatar meeting 'productive'

2/5/2016 1:21:15 PM

(MENAFN- The Peninsula) Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada with his Venezuelan counterpart Eulogio Antonio Del Pino Diaz yesterday in Doha. The meeting was also attended by top officials of oil companies including Saad Sherida Al Kaabi President and CEO of Qatar Petroleum.

Doha: Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada met yesterday with his Venezuelan counterpart Eulogio Antonio Del Pino Diaz (Minister of Petroleum and Mining).

Both sides discussed issues related to the current global oil market situation.

During the meeting which was also attended by top officials of oil companies including Saad Sherida Al Kaabi President and CEO of Qatar Petroleum they exchanged opinions on the expectations of short and long-term oil price movements.

In addition they also discussed bilateral relations including investments on energy projects.

Dr Al Sada is the current holder of the rotating Opec presidency.

Meanwhile Reuters reported that Venezuelan Oil Minister said he had a “good and productive” meeting with his Qatari counterpart. He is on a tour of oil producers to lobby for action to prop up prices.

Opec member Venezuela has been calling for an emergency meeting of producers to discuss steps to prop up prices which are close to their lowest since 2003.

On Wednesday Iranian news agency Shana quoted Del Pino as saying six producing countries including Opec members Iran and Iraq and non-members Russia and Oman supported a producer meeting.

But so far none of Opec’s Gulf members including top exporter Saudi Arabia has publicly backed a meeting Reuters reported.

The Venezuelan minister is scheduled to visit Riyadh for further negotiations. He is scheduled to meet Saudi Oil Minister Ali Al Naimi there on Sunday.

The Peninsula

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