the symposium organized by the Organization of Arab Petroleum Exporting Countries, “OAPEC” in cooperation with the Ministry of Petroleum and Mineral Resources on the global financial crisis and its impact on the oil and natural gas in the Arab countries began with the participation of a number of experts of the SCO member states and companies emanating from it and some Arab institutions and international centers specialized research on energy issues, in Dedeman hotel.

Eng. Sufian Allaw Minister of Oil and Mineral Resources stressed at the opening of the symposium that organization reflects the Organization’s interest in the financial crisis and its negative consequences, which have caused serious damage to the economy Arab world in general and the oil sector in particular has tumbled returns oil to Arab countries, which is mainstay of the Arab economy and the most important engines to grow noting a drop in exports Arab States of crude oil between 2008 and 2009 about 40 percent and declining growth rate in the Arab States of about 6 percent in 2008 to 2 percent in 2009 constant prices in addition to gross domestic product declined by about 5.10 percent during 2009 and the decline in the volume of development assistance Simplified Arabic during the year 2009 compared with 2008.

. For his part, Abbas al-Naqi Secretary General of OAPEC said that The symposium comes within the framework of the organization’s concern to follow up on subsequent developments of the global financial crisis on oil and gas sector, two years after its appearance, pointing out that the financial crisis is the worst financial crisis the world has seen since the thirties of the last century and resulted in confusion severe and instability in financial markets and has developed into a severe credit crisis has moved into the real economy.

The discussions centered seminar on reflection of the crisis on the global economy and its repercussions direct oil markets in terms of reduced demand and falling prices and declining oil revenues for the Arab States of the Petroleum Exporting and its role in the decline in economic growth rates in the Arab countries as well as a reflection of the crisis on the petroleum industry in its infancy the front, middle and subsequent activity national and international companies working in the field of petroleum and corporate activity emanating from the Organization of Arab Petroleum Exporting Countries.

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