Global Arab Network | Kuwait to organize forum on oil industries transparency

Translate this article to your language:

GANPublications

e-Publications

Add Site to Favorites

Add Page to Favorites

Make Homepage

Share This Page

RSS Feed

--------------------------------------------------------------------------------------------------------------------
| |

Kuwait to organize forum on oil industries transparency

Monday, 05 April 2010 12:37

The Kuwait Transparency Society (KTS) declared here Saturday the launching of its fourth annual forum on transparency held under the patronage of H.H. the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on April (20-21), 2010 under the slogan of "Transparency in Oil Industries".

Chairman of the Kuwaiti Transparency Society Salah Al-Ghazali said in a press conference here today that the forum's goals this year is to achieve the values of transparency, integrity and accountability in the Kuwaiti oil sector.
He added that this comes in line with the state development plan recently submitted by the government in which the oil sector has the biggest share of projects in value and volume.

Al-Ghazali pointed out that oil, gas and petrochemicals projects are those ones included in the new strategy of the Kuwait Petroleum Corporation (KPC), known as the 2030 strategy.

This prompted the KPC to be the forum's main sponsor out of its belief in the importance of the oil sector's abiding by the transparency principle in all transactions with clientele.

Al-Ghazali made clear that the forum seeks to define the criteria derived from the UN Convention against Corruption which Kuwait signed in 2006 out of its willingness to protect the Kuwaiti oil output from corruption and ascertain its sustained success in making gains as the sinew of the local economy.

He went on to say that extractive industries around the world including oil, gas and minerals started to apply some special criteria that aim at boosting governance after officials remarked a widespread political, administrative and financial corruption in those industries around the world.

Al-Ghazali said that some international civil society figures took the lead in working toward strengthening governance in such important industries.

He also expected for this forum to attract a big number of those interested in knowing more about the mandatory and voluntary transparency standards in the oil industries from various world.

Finally, head of the scientific committee of the forum Dr. Meshaal Al-Samhan said that the forum will shed light on an array of themes derived from the transparency initiative in the extractive industries signed and supported by big oil companies in the world. (KUNA)

Global Arab Network

Add comment

The opinions of the authors in articles published are theirs alone and do not necessarily reflect the views of Global Arab Network
------------------------------------------------------------------------------
Published comments are the opinions of private individuals and do not reflect the views of Global Arab Network