São Paulo – Arab countries currently account for 54.3% of global crude reserves and intend to increase the supply of oil by 38.1% by 2050, according to the secretary-general of the Organization of Arab Petroleum Exporting Countries (OAPEC), Jamal Al-Loughani (pictured above), at a conference in China this Thursday (21).
According to Al-Loughani, the region accounts for 29.3% of global oil production and 30.2% of exports. He spoke of the Arab world’s expectation of contributing more to the world’s energy supplies, including natural gas, which the region has around 26.3% of certified reserves. The secretary-general recalled there is growing demand from China for oil and natural gas imports.
Al-Loughani spoke at the 7th China-Arab Energy Cooperation Conference held in Haikou with the theme “Entering the golden era of China-Arab energy cooperation of quality and sustainability.” He said fossil fuels could contribute to a balanced shift in the diversification of energy resources towards those more environment-friendly and compatible with efforts to counter climate change.
Information was released by the Kuwait News Agency (KUNA).
Translated by Elúsio Brasileiro
