APS : Saturday, 21 January 2017
ALGIERS- Minister of Energy Noureddine Boutarfa head for Vienna, Austria, to participate Sunday in the first ministerial meeting of OPEC-non OPEC Monitoring Committee, a source from the Ministry told APS on Saturday.
The meeting will address the necessary mechanisms to carry out the monitoring that the member and non-member states of the Organization of Petroleum Exporting Countries (OPEC) entrusted to the ministerial Committee, which is co-chaired by Kuwait and Russia and comprises Algeria, Venezuela and Oman, said the source.
During the meeting, OPEC Conference President, Saudi Energy Minister Khalid al-Falih and his Qatari predecessor Mohammed bin Saleh al-Sada will attend the opening session of the Committee.
In a statement to the press upon his arrival in Vienna, Boutarfa said that the meeting would be devoted to issues related to the required monitoring systems, particularly, sources, planning, deadlines and warning systems.
“An additional information about exports will be requested from countries,” he said, adding that “we will discuss (during the meeting) how to include exports indicator in the monitoring documents.”
The minister said the Monitoring Committee would meet three times ahead of the next meeting of OPEC, scheduled for May.
Boutarfa also confirmed that Algeria had cut its output by more than 50,000 barrels per day (pbd), i.e. more than promised, adding that at present, Algeria is producing 1.027 million bpd.
The proposal to set up a ministerial monitoring committee of the OPEC-non OPEC agreement is part of Algeria’s proposal adopted by OPEC and non-OPEC member states during the meeting of December in Vienna.
The Committee is made up of the OPEC representatives: Algeria, Kuwait and Venezuela and the non-OPEC representatives: Russia and Oman.