Arab forum calls for boosting inter-Arab oil, gas investments

The third Arab petroleum corporations forum has called for boosting inter-Arab investments in the oil and gas domains covering producing, refining, marketing and initial economic feasibility studies.

At its closing session in Aswan, Egypt, Friday, the forum, held to discuss prospects of investment expansion in the gas and petroleum sectors in the Arab states, also called for inviting major oil organizations, especially the Organization of Arab Petroleum Exporting Countries (OAPEC), to the coming session to discuss means to strengthen joint cooperation in the oil and gas fields.

The forum stressed the necessity of encouraging the private sector to invest in this domain.

It called for boosting Arab cooperation in the field of oil derivatives. Participants in the forum cabled thanks to President Hosni Mubarak for his ceaseless efforts in support of joint Arab action and in the service of Arab causes at the different international forums.

They praised President Mubarak's keenness on sponsoring efforts aimed at realizing solidarity and integration in the economic fields.