• Minister of Petroleum Adviser 12 volatility in oil prices in 40 years


    Gulf controls 40% of reserves and 35% of global crude trade
    Minister of Petroleum Adviser: 12 volatility in oil prices in 40 years


    Dr. Ibrahim Al-Muhanna Saudi Minister of Petroleum and Mineral Resources adviser said, "The Gulf states account for 40 percent of global oil reserves and 20 percent of global oil production, and 35 per cent of world trade in oil."
    He said during a working paper presented on "Oil and the media and the Gulf: An Overview", in the first session of the Forum for the second petroleum media for the Gulf States, is being held at the Hotel Intercontinental in Riyadh, said: "It is recognized that the political, military and economic events have a significant impact on the situation of all marketsincluding the oil market is real, but there are other events that affect the direction of the market dramatically, so the price goes up or down between 20-30 per cent and in the case of an upward or downward may continue for several months, "noting that" over the past 40 years12 head of volatile oil prices occurred almost half due to the political and military reasons. "
    Al-Muhanna cited, misinformation, which coincided with declines in oil prices during the latter half of last year, on the cover of The Economist magazine of comics that shows people dressed as an Arab and another US Bazzi, in reference to the war between the Arab countries and the United States on shale gas.
    For his part, Engineer Sohail Al Mazrui; Minister of Energy in the UAE, said the "economic", yesterday evening, "said his country will host the next session of the (Third) of the Forum of the Gulf oil media in 2017," adding that he "did not specify a deadline after her".
    Asked about oil prices and expectations during the coming period, Almzoraei said, "The price of oil left to supply and demand factors in the market."
    During the discussion session, Samira Kawar; editor of Middle East affairs at Argus Media in the United Kingdom said, "Ali al-Naimi told the Saudi Oil Minister, that ten million barrels of Saudi Arabia's current production means for an average increase during the recent period."
    Kawar justified this rise in production near the summer means to increase domestic consumption, stressing that it would not lead to a decline in global oil prices the fact that Saudi Arabia's exports will remain the same and will only increase is domestic consumption.
    Reported that the lack of continuous communication by officials, is the main reason for the erroneous information that is broadcast by the media, pointing to the existence of a large shortage of information from the oil-producing countries is causing several rumors and predictions may be inaccurate from the media and specialists in the fieldoil.
    For her part, Kate Dorian said the first editor of the Middle East magazine economic survey, "The effect of the conditions became less in oil prices of the past."
    Dorian confirmed that OPEC still influential dramatically in the global oil market, but its impact may decline as a result of the presence of other countries outside the organization produces large quantities of oil, including the United States and Russia.
    Returning to Dr. Ibrahim Al-Muhanna, Minister of Petroleum and Mineral Resources Advisor, where he said, "that during the twentieth century, the expansion of the use of petroleum year after year, as well as the media by the attention, but that attention grows with crises such as the First and Second World Wars, the crises in the production areas of the most important revolutionIran in 1953 and the nationalization of oil by the government of Mohammed Mossadegh, and the nationalization of the Suez Canal by the late Egyptian President Gamal Abdel Nasser, and the tripartite aggression against Egypt in 1967 and stopped Tapline line of oil from the Gulf to Lebanon and the closure of the Suez Canal. "
    He added, "The biggest political development of petroleum media since World War II occurred in 1973, with the Arab-Israeli war and do some producing Arab countries Petroleum supporting countries to boycott Israel directly, and the high oil prices of three dollars to $ 14, raising the importance of oil fromby citizens in consuming Western countries, and in the producing countries. "
    He explained that, on the side of the petroleum media began with an international character specialized petroleum Press show after World War II, and perhaps the most important Petroleum Intelligence Weekly Bulletin Bulletin Middle East Xunmak Survey.
    He continued, "but the second great transformation in the petroleum media, and the relationship between the two sides in the early eighties, where military and political events that affected oil exports, such as the Iranian revolution, the Iran-Iraq war, and the fluctuation of oil prices sharply from $ 40 in 1980 to tendollars in 1985 ".
    He stressed that the future market emergence of crude oil and its derivatives in New York, it was the highlight important things during the twentieth century, that means turning a large part of the sales and petroleum purchases (about 70 per cent currently) from the sale and purchase of oil drums true to futures contracts on the paper with the entryA large number of non-traditional players in the oil markets, that includes banks, investors and speculators from companies and individuals and non-oil companies such as airlines in order to take precautions.
    And, that the media regarding the matter Petroleum, as it is in most other matters, focusing on the excitement, and bring the attention of the reader and listener and workers in the oil market, and in particular the future, and are looking for the truth and expectations, as they are looking for rumors, ideas and excitement that may raise the price or lower it, and perhaps worse, that some officials, and professionals, journalists, analysts, writers, using the excitement, exaggeration, and talk about conspiracy theories, to bring attention to, and in order to be passed on media statements.
    He added, "What's up further complicated entry and social media in the picture, most of which is based either on personal opinions, rumors, wishes, or as an early transfer to the news has not been published, has not been verified formal ways in terms of its quality, its causes and developments."
    Asked Al-Muhanna in his paper, "Is it possible to create notification Gulf petroleum as international role and the importance of taking into account the fact that the specialists and experts of research centers are an important part of the information process"?
    He pointed out that the answer is, "Yes, could be so, but the achievement of four conditions, clarity of purpose of the establishment of the media, training human cadres informational Gulf with good culture and knowledge of the oil and energy issues, the independence of news agencies and media press media of the government bureaucracy, no direct link developmentsand political differences within the region, finally the cooperation of government officials and oil companies with the media the Gulf. "
    In the second session, which was held entitled "Transparency and information in the Gulf oil media," said Dr. Anwar Al-Rawas; Head of the Information Department at the Faculty of Arts and Social Sciences in the Sultanate of Oman, "The energy industry is booming in various countries and markets of the world is moving very quickly in directionsMany, through the use of new sources of supply and new technology and new ways of thinking, "pointing out that the leading companies in this field depends on the media a large and growing dependent to maintain its market share and develop constantly, which makes the information in this sector are of great value to the commoditycompanies operating in it.
    Rawas put in his paper, the issue of perception states changes that will occur the following entry into the global systems, specifically under the UN umbrella and through international bodies, especially the phrases "a secret, and top secret, and limited trading", extinct in the open space age.
    Rawas has put three conditions for the application of transparent media related to the existence of many competing sources of information among themselves, and learn a lot about the way information delivery, and that the media production financing available publicly.
    Rawas also face a number of proposals to the newspapers to change their strategies in the oil to cover the events, stressing the need to create a press sections specializing in energy, and increasing cooperation with the media and non-media specialist in energy.
    For his part, Dr. Rabia Al Kuwari assistant professor of media head of the media department at the University of Qatar called on the need to take advantage of the global experiences in conferences and seminars specialized in the field of petroleum media, including reinforcing especially in the oil industry and to harness the media to serve him properly successful experiences, and alsointensification of workshops, training courses and seminars, as much as possible and take advantage of research, studies and other conclusions presented in such conferences, seminars and harnessed to enhance the development and progress of the oil industry.
    Kuwari said, "The discussion forums and conferences aimed at offering a lot of solutions and scientific insights that seeks to enlighten the nations and peoples of the importance of the media of various kinds."
    He pointed out during the third session, which was held entitled "The role of conferences and seminars Petroleum in promoting petroleum culture", to play forums and conferences from a leading role in guiding the society and decision-makers in order to draw a true picture of the issue of the oil or the oil industry and what should be the promotion of petroleum culture,especially within the Gulf Cooperation Council (GCC).

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