President of the Republic of Azerbaijan Ilham Aliyev has received Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al Ghais.

Haitham Al Ghais conveyed Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al-Saud`s greetings to the head of state,

President Ilham Aliyev thanked for the greetings and asked the OPEC Secretary General to pass on his greetings to Prince Abdulaziz bin Salman Al-Saud.

The successful cooperation of Azerbaijan with OPEC+ countries was highlighted at the meeting. The Secretary General underlined that Azerbaijan had contributed much under the leadership of President Ilham Aliyev to the OPEC+ format from the first day of its establishment. Haitham Al Ghais thanked the head of state for this.

At the same time, they touched upon the role of the activity in the OPEC+ format in today’s global oil market. They underlined that stability was maintained in this market until now, thanks to the activity in this format.

During the conversation, they discussed the current issues in the field of fossil fuels and stressed the importance of allocating investments to this area in the future. Considering the increasing demand for energy due to the growth of the world economy, they noted that the recent reduction of investments in this field has caused some concern.

Along with the progress made in the green energy area in the world, the important role played by traditional fuel was emphasized at the meeting. They noted that the application of new technologies is of particular importance in reducing environmental damage in traditional energy.