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18

OPEC bulletin 8–9/17

F o r u m

is beyond any group of stakeholders, it has to be a col-

lective responsibility of all producers.”

In regards to the ‘Declaration of Cooperation’, he

also stressed that it is vital that we “try to institutional-

ize it.” He said that “we are looking beyond the market

rebalancing.”

Informal meetings

On the sidelines of the WPC, the Secretary General also

held a series of informal meetings with OPEC and non-

OPEC oil and energy ministers, and took time out to visit

a number of OPEC Member Country pavilions at the WPC

exhibition.

Barkindo met with the newly appointed Algerian

Minister of Energy, Mustapha Guitouni, who thanked the

OPEC Secretary General for the efforts he has embarked

on since he assumed office in August 2016, specifically

those related to the landmark decisions taken by OPEC

and non-OPEC oil-producing countries.

Barkindo then briefed the Algerian Minister on the

specifics of the decisions taken and acquainted the

Minister with the May 25 renewal of the ‘Declaration of

Cooperation’ by participating OPEC and non-OPEC pro-

ducing countries that extended the production adjust-

ments for a further nine months, beginning on July 1,

2017.

The Secretary General also met with Qatar’s Minister

of Energy and Industry, Dr Mohammad Bin Saleh Al-Sada,

Kuwait’s Minister of Oil and Minister of Electricity &

Water, Issam A Almarzooq, and the Russian Federation’s

Minister of Energy, Alexander Novak.

In touring the exhibition arena, the Secretary

General visited a number of OPEC Member Country

pavilions — Algeria, Kuwait, IR Iran, Qatar, Saudi Arabia,

Venezuela, as well as the OPEC stand. He was briefed

Rex Tillerson (l), US Secretary of State, and former CEO at ExxonMobil, received the Dewhurst Award from Jozsef Laszlo Toth, President of the World

Petroleum Council.

Reuters