The Sectorial Vice President for the Economy and Minister of the People’s Power for Petroleum, Tareck El Aissami pointed out that Venezuela is participating this Tuesday in the 24th OPEC+ Conference to continue consolidating the world’s energy market.
El Aissami highlighted that thanks to this virtuous cooperation mechanism “we have overcome all adversities since the beginning of the Covid-19 pandemic in 2020, and then in 2021 closing with stable prices.”
Next, he pointed out that “the projections for this year, 2022, indicate that we will have a fair price that will allow us to continue increasing production capacity and also continue investing in the recovery of Petróleos de Venezuela (PDVSA).”
During this Tuesday, the 36th Meeting of the OPEC+ Ministerial Joint Monitoring Committee (JMMC) is also held, chaired by His Royal Highness Prince and Minister of Energy, Industries and Mineral Resources of Arabia Abudaliziz Bin Al Salmán Al Saud and co-chaired by the Vice Prime Minister of the Russian Federation Alexander Novak.
Venezuela is part of this committee together with Algeria, the United Arab Emirates, Iraq, Kuwait and Nigeria, as well as Saudi Arabia and Russia, already mentioned.
During this Meeting of the Ministerial Joint Monitoring Committee, the current OPEC Secretary General, Mohammad Barkindo, presented the report on the evolution of the oil market updated until November 2021, as well as the report on the levels of compliance with production adjustments to date.
Prior to this meeting, the representatives of the 13 member countries of OPEC, held a Special Meeting of the Conference of the organization on Monday in which the Kuwaiti Haitham Al-Ghais was elected as the new Secretary General and will formally assume the position of as of August 1, 2022.
Al-Ghais, will replace Mohammad Barkindo, of whom Vice President El Aissami recognized his outstanding [work], noting “his extraordinary and decisive role in his two terms as head of the General Secretariat of OPEC,” he said.
