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31.10.2016 13:44

Azerbaijan is interested in closer contact with OPEC - minister

OPEC secretary general Mohammad Sanusi Barkindo received Azerbaijani minister of energy Natig Aliyev and ambassador and permanent representative of the permanent mission to the international organizations in Vienna, Galib Israfilov, and world energy news reported.

non-OPEC countries were invited to join in talks following the Algiers accord, reached in Algeria on 28 September 2016.

Natig Aliyev said that Azerbaijan is very interested in closer contact with OPEC, adding he wants to increase his knowledge of OPECs efforts to stabilize the oil market and find out which role non-OPEC countries can play, including Azerbaijan.

He said OPEC and non-OPEC countries share the same challenges and should seek common solutions, adding that Azerbaijan depends financially on the oil and gas industry. the development of a roadmap is an important next step for Azerbaijan, he said.

"Venezuela and Azerbaijan agree that some measures will be taken to stabilize the market. we agreed the price of oil can be around $60 per barrel", Natig Aliyev told Reuters.

One mandate of the Algiers accord is to work out a framework for permanent cooperation, Mohammad Barkindo said at the meeting with Natig Aliyev, which could include dialogue and joint actions.

The evolving relationship between OPEC and non-OPEC needs to be upgraded within a permanent framework in a structured and timely fashion as mandated by the Algiers accord, he added.

Six non-OPEC countries participated in the technical meeting on 29 October, including Azerbaijan, Brazil, Kazakhstan, Mexico, Oman and Russia.

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