Vienna: The State of Kuwait has reiterated its obligation to guarantee energy security worldwide. This declaration was made during a speech by Minister of Oil and Chairman of Kuwait Petroleum Corporation (KPC), Tariq Al-Roumi, at the Ninth OPEC International Seminar held in Vienna.
According to Kuwait News Agency, Kuwait is advocating for increased investments in future energy projects and is promoting solutions to reduce emissions while enhancing the efficiency of energy systems. The minister emphasized that the seminar is being held during a crucial period marked by accelerating challenges in the energy sector, influenced by both regional and international dynamics.
The minister highlighted OPEC's continuous efforts to stabilize markets by balancing demand and supply. He also noted the importance of OPEC's partnerships with non-OPEC producers through the OPEC+ alliance. In the first ministerial session, Al-Roumi underscored the importance of maintaining market stability to ensure energy security and aid in global economic growth.
Additionally, KPC's Deputy Chairman and CEO, Sheikh Nawaf Al-Saud Al-Sabah, affirmed the corporation's commitment to providing reliable and stable supplies of crude oil and environmentally friendly products. He remarked on KPC's ability to adapt to market changes through a flexible and innovative approach, highlighting its achievements and expansion in the petrochemical sector.
KPC is also participating in an exhibition during the seminar, showcasing an integrated pavilion that highlights the key aspects of its 2040 strategy.