Third OPEC Summit concludes with Riyadh Declaration
The Third Summit of Heads of State and Government of OPEC Member Countries concluded here today issuing a call to the international community to protect the stability of global energy markets, reaffirming the need to use energy for sustainable development and emphasizing the importance of protecting environment.
The third summit in the organisation's history underlined the interrelationship between security of supply and the security of demand, and reiterated their commitment to ensure adequate supply of oil to maintain stability in global energy market and achieve economic prosperity.
The Heads of States and government of OPEC member countries also promised to support the fight against climatic changes and global warming.
The summit also reiterated its support to the sustainable development of the world countries and the continued assistance for the developing nations in order to achieve the United Nations Millennium Development Goals.
In the final session of the third summit chaired by Custodian of the Two Holy Shrines, King Abdullah Bin Abdul Aziz Al Saud of Saudi Arabia, the Heads of states of OPEC member countries reiterated the commitment of the member countries to conserve, efficiently manage and prolong the exploitation of their exhaustible petroleum resources, in order to promote sustainable development and the welfare of future generations.
The final communique of the summit, the 'Riyadh Declaration' was read out by Secretary General of OPEC Abdullah Bin Salem Al Badri at the King Abdul Aziz International Conference Centre.
The following is the full text of the solemn declaration of the third OPEC summit: We, the Heads of State and Government of Member Countries of the Organization of the Petroleum Exporting Countries (OPEC), continuing in the spirit of our First and Second Summits held in Algiers and Caracas in 1975 and 2000, respectively, have accepted the invitation extended by the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz, to meet for our Third Summit in Riyadh, the Kingdom of Saudi Arabia, from 17 to 18 November 2007. Source
The third summit in the organisation's history underlined the interrelationship between security of supply and the security of demand, and reiterated their commitment to ensure adequate supply of oil to maintain stability in global energy market and achieve economic prosperity.
The Heads of States and government of OPEC member countries also promised to support the fight against climatic changes and global warming.
The summit also reiterated its support to the sustainable development of the world countries and the continued assistance for the developing nations in order to achieve the United Nations Millennium Development Goals.
In the final session of the third summit chaired by Custodian of the Two Holy Shrines, King Abdullah Bin Abdul Aziz Al Saud of Saudi Arabia, the Heads of states of OPEC member countries reiterated the commitment of the member countries to conserve, efficiently manage and prolong the exploitation of their exhaustible petroleum resources, in order to promote sustainable development and the welfare of future generations.
The final communique of the summit, the 'Riyadh Declaration' was read out by Secretary General of OPEC Abdullah Bin Salem Al Badri at the King Abdul Aziz International Conference Centre.
The following is the full text of the solemn declaration of the third OPEC summit: We, the Heads of State and Government of Member Countries of the Organization of the Petroleum Exporting Countries (OPEC), continuing in the spirit of our First and Second Summits held in Algiers and Caracas in 1975 and 2000, respectively, have accepted the invitation extended by the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul Aziz, to meet for our Third Summit in Riyadh, the Kingdom of Saudi Arabia, from 17 to 18 November 2007. Source
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