Qatar's Energy Minister: Oil Producing Countries Have Responsibility to Lead Future of Oil Industry

Paris , May 03 (QNA) -HE Qatar's Minister of Energy & Industry Dr. Mohammed bin Saleh Al-Sada, who is also Chairman and Managing Director of Qatar Petroleum has called upon the Oil producing countries have the responsibility to lead the future of the oil industry. ''Their investments in productive capacity, their innovative views on technology development and business implementation, and their willingness to achieve economic development in a sustainable way are the key domains we need to address as individual nations and as a group of oil producing countries," HE the minister of energy and industry said . HE Al Sada in a speech he delivered before the Ministerial Session of the 13th International Oil Summit , held under the title " Meeting the New Challenges of the Oil Sector, and which opened at Hotel Le Meridien Paris on Thursday, said,"I remain a firm believer in the bright and sustainable future of oil and gas industry'' . The Summit is attended by energy and industry ministers and high officials from Algeria , Qatar, Saudi Arabia, Venezuela, Kuwait, Nigeria and Columbia. HE Dr. Al Sada, who is on official visit to France to attend the Summit, is leading a delegation comprising high officials and representatives from Qatar Petroleum, Qatar Petroleum International, Qatargas Operating Company, and QAPCO. The International Oil Summit which is held under the theme The new challenges facing Oil and Energy, is organized by by IFP Energies novellas, the energy newspaper Petro strategies, and IFP Training (a subsidiary of French Petroleum Institute). It was first held in October 1999. Since its inception, it has become one of the most important yearly events in this field, facilitating the exchange of ideas and enabling the participants to share their assessments of current international situations and the future of the world oil market. (QNA)