Producers, consumers, oil companies need to join forces to fuel world economy growth : UAE
WAM Abu Dhabi, 4th June 2012 (WAM) -- Three key energy partners : producers, consumers and oil companies need to join forces to build new crude oil output capacities to meet demand of global economy, a senior oil official said here today.
Delivering the keynote address at the conference on " The development of production capacities of oil in the Arab countries and the current and future role in meeting the global energy demand," organised by the Organisation of Arab Petroleum Exporting Countries (OAPEC), Dr. Hamed Al Neyadi, Undersecretary of UAE Ministry of Energy, said Arab oil producers had been and still playing an inevitable role in producing and delivering oil and gas to countries of the world, thus contributing significantly to the world economic growth.
Al Neyadi said there is a need for modern technology that can make fossil fuels more convenient to the environment along produce other sources of energy that can reduce carbon dioxide emissions and be more sustainable in the long run.
He called for developing Arab human resources to keep pace with advanced technology, noting that modern economy rests on the creative human thinking.
''More attention should also be lent to affordable education and training programmes,'' he added.