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Official Visit by OPEC Secretary General |
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An official visit to Nicosia on 15-17 January by the Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Abdalla Salem El Badri (Libya), generated added interest because of Cyprus’ hopes of becoming a significant oil and gas producer from its offshore sector of the Eastern Mediterranean (see CN 08/2007). Mr El-Badri met President Papadopoulos and other leaders and also addressed the Nicosia Chamber of Commerce and Industry (NCCI) on the state of the international oil market.
Asked by journalists after his talks with President Papadopoulos whether Cyprus could become an OPEC member, Mr El- Badri replied jokingly that at one time no one would have predicted that his country, Libya, would qualify to join the organization. He said that he and President Papadopoulos had not specifically discussed Cyprus’ offshore activities, although he described the President as very knowledgeable about oil and gas developments.
In his address to the NCCI gathering, President Papadopoulos noted that Cyprus is currently entirely dependent on petroleum imports, which in 2006 made up 18 per cent of import costs. The Government’s priority, he said, is to ensure adequate, secure and sustainable energy supplies in line with EU directives, so the time had come for Cyprus to embark on hydrocarbons exploration in its exclusive economic zone.
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