International Energy Forum Concludes Friday in Riyadh

Published November 19th, 2000 - 02:00 GMT

The 7th International Energy Forum concluded Friday in Riyadh with the publication by Saudi Arabia and co-hosts the Netherlands and Japan of a summary of the debates. 

The forum: 

-- emphasized the importance of continued dialogue between energy producers and consumers. 

-- underscored the role of energy prices and energy availability in world economic prosperity. 

-- affirmed that greater stability and transparency in the oil market to reduce price volatility is in the interest of producers and consumers. 

-- acknowledged the importance of adequate oil supplies to satisfy growing oil demand. To this end, favorable energy, fiscal, investment and environmental relations are needed for freer and expanded trade in oil and gas and for sustainable world economic growth. 

-- welcomed the suggestion ... to consider the establishment of a permanent secretariat ... to work towards promoting continuous dialogue between producers and consumers. A study group ... will be formed. 

-- welcomed the proposal of Japan to host the eighth session of the International Energy Forum in Japan in 2002, with Italy and the United Arab Emirates to co-host – RIYADH (AFP) 

 

 

© 2000 Al Bawaba (www.albawaba.com)

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