Dubai: Saudi Arabia will host the roundtable conference of Asian oil and energy ministers in Riyadh next month.
The one-day forum will have delegates from China, India, Japan, Iran, Iraq, South Korea, Oman, Kuwait, the UAE, the Philippines, Bahrain, Thailand, Malaysia, Pakistan, Indonesia and Brunei.
The Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) will also attend the event.
“The conference will have two working sessions. The first will focus on subjects such as the future of energy in Asia, prospects of expanding oil and gas trade in east and west Asia, market fluctuations and alternative scenarios,” an official from the Ministry of Petroleum and Mineral Resources was quoted as saying by ‘Arab News´.
The second session will cover economic and energy inter-dependence of Asian countries, and issues related to investments in oil exploration, production, refining and marketing besides the role of national and international companies.
Saudi Arabia has been making considerable efforts in cooperation with other producers to stabilize the international oil market.
Custodian of the Two Holy Mosques King Abdullah, who offered to host the International Energy Forum’s secretariat in Riyadh, inaugurated its headquarters on Nov. 19, 2005.
The roundtable of Asian oil ministers in the Saudi capital is significant amid growing demand for energy in the continent due to fast economic and industrial growth.