Ministries to discuss unifying oil products prices in GCC countries

The 15th preparatory meeting of GCC oil undersecretaries committee, scheduled on next Wednesday in Doha, is planned to discuss the possibility of unifying prices of oil products in the GCC countries, Kuwait Oil ministry said Sunday.

In a statement to Kuna, the ministry said the meeting would review a memo prepared by the GCC general secretariat on the meetings of the GCC energy team in the World Trade Organisation and Free Trade Agreements.

The meeting will also delve into a report by the president of the Working Group for GCC countries, which is assigned to study and follow up developments on the meetings with the United Nations Framework Convention on Climate Change, the Kyoto Protocol, and also review another report by the General Secretariat on meetings by mineral resources officials in GCC countries.

The statement added that undersecretaries will also touch upon a memo by the Secretariat on meetings of joint Media Committee specialists with the Organisation of Arab Petroleum Exporting Countries (Oapec), including the final decision on proposed media Memorandum of Understanding (MoU) to the Petroleum Cooperation Committee in preparation for approval along with the Secretariat's memorandum on cooperation between GCC countries in the field of renewable and complementary energy and the report of the petroleum strategy committee.

The ministry's statement asserted on the importance of the Doha meeting due to rapid changes in global oil industry and the push for stability in this regard, and the development of technical, economic, and media plans that would benefit development of GCC oil business.

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