Riyadh: Ministry of Petroleum and Mineral Resources is launching a two-day symposium starting Monday in Riyadh to celebrate the 50th anniversary of the establishment of Organization of Petroleum Exporting Countries (OPEC), Aqeel Al-Onaizi, Public Relations Manager, said.. Al-Onaizi said several national and international dignitaries and research scholars in the field of petroleum and energy will participate in the symposium to discuss on topics such as ‘Saudi Arabia and OPEC: the historical dimension; Kingdom;s role for the present and future of OPEC; relations between OPEC and other international organizations; future role of OPEC in international oil markets.' A number of companies dealing in oil and energy will participate in an exhibition to be organized on the sidelines of the symposium at Riyadh Intercontinental Hotel, he said. Dr. Abdullah Al-Badri, Secretary General, OPEC, Mohamed Ali Al-Abalkhail, former finance minister and Hisham Mohieddin Nazir, Saudi Ambassador to Egypt, Dr. Abdulrahman Al-Tuwaijri, head of the Capital Market Authority (CMA) and a number of delegates and international experts will participate. The participants will underscore the Kingdom's role in its historical perspective and origin of OPEC. The other five founding members of this organization include Kuwait, Iraq, Iran and Venezulea and later joined by Algeria, Angola, Ecuador, Libya, Nigeria, Qatar and the UAE to become a 12-member international body. The establishment of OPEC was seen as a historic milestone and a turning point in building relations between the international consumers and petroleum producing countries. ?Since its inception, OPEC's goals and plans have been to serve the international community's aspiration in efficiently preserving the interests of petroleum consuming and producing countries and work to achieve stability in the international oil market. Saudi Arabia has been in the forefront in supporting and developing the organization into a strong entity. “Saudi Arabia always sought to stabilize the world oil market which is fair to both producers and consumers,” ministry official told Saudi Gazette.
