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Kuwait’s Oil Minister Dr Ali Al-Omair
Kuwait interested in Asian oil market, says Al-Omair

MOSCOW, May 15, (KUNA): Kuwait is interested in developing cooperation with the Asian oil market, said Oil Minister and Minister of State for National Assembly Affairs Dr. Ali Al-Omair here Thursday. Speaking on sideline of the 14th International Energy Forum’s (IEF14) opening ceremony, Al-Omair said that the Asian region receives around 75 percent of Kuwaiti oil exports. He stressed that his country was willing to further expand cooperation with the Asian oil market.

On the IEF14, the minister affirmed that the event was important to address challenges facing the oil market and also bolster cooperation amongst oil producers around the globe. Russian Prime Minister Dmitry Medvedev opened the IEF14 today with a speech stressing the importance of stability in the world energy market.

The new geography of energy and future of global energy security is the theme for this year’s forum. The 13th IEF was held in Kuwait mid-March 2012. It came out with several proposals key among them was the proposal to reinforce financial transparency in the oil market.

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