The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haythem Al-Ghais, visited the National Oil Corporation today, Saturday, along with the General Director of Technical Affairs at the Ministry of Oil, Mustafa bin Issa, and the Libyan Governor to OPEC.
Al-Ghais confirmed that OPEC will support Libya and work to maintain the market in coordination with its member countries and non-OPEC producing countries. He added that this is evidenced by the expectations that major non-governmental companies will continue to invest in oil.
Al-Ghais explained that global market expectations indicate that demand for oil and gas will continue to increase in the coming decades, despite the trend towards renewable energy. He directed the Ministry and the National Oil Corporation to start investing in oil and gas now to benefit from it during this period, with the support of the National Unity Government.
He stressed that the presence of OPEC is very important in its role in maintaining the market and the economies of member countries during global crises where demand for oil decreases and prices fall. He added that OPEC is working on developing its media apparatus and consulting with the Ministry in this regard.
Bin Issa and the Libyan Governor to OPEC confirmed that there are many opportunities and studies that will be available through the organization, and that the Ministry will coordinate with the corporation to benefit from them in all possible fields and at all levels.