OPEC chief in Cyprus for talk on oil

The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Abdalla Salem El-Badri, arrived in Cyprus last night as a guest of the Nicosia Chamber of Commerce and Industry to give a public address tonight.

Christodoulos Angastiniotis, President of the Nicosia Chamber of Commerce, said that during the dinner to be held at the Hilton hotel at 8pm, El-Badri will talk on “Οil Outlook and Investment Challenges” and will elaborate on the present trends in the crude oil market, he will talk about the worldwide reserves and will also discuss demand.

The OPEC chief is also expected to talk about the phenomenon worldwide price increases, OPEC’s future plans and Cyprus’ prospects of exploring for oil.

The event is sponsored by the Bank of Cyprus.

El-Badri will start his day with a meeting with President Tassos Papadopoulos, followed by a short tour of the old walled city of Nicosia and the dividing Green Line, a visit to the Leventis municipal museum and a lunch meeting with the board of the Nicosia Chamber of Commerce.

On Thursday, the OPEC Secretary General will have meetings with Foreign Minister Erato Kozakou-Marcoullis, who has just returned from a tour of the Middle East, and also with Trade Minister Antonis Michaelides, whose portfolio includes energy. He will return to the OPEC Secretariat in Vienna later in the day.