Turkmen Leader Discusses Impact of Global Oil Price Changes

BUSINESS TURKMENISTAN
Turkmen Leader Discusses Impact of Global Oil Price Changes
During the working meeting, Turkmen officials discussed issues of improving the activity of the fuel and energy complex and its further development, taking into account the complex world situation.

President of Turkmenistan Gurbanguly Berdimuhamedov at the meeting focused on the constant changes in oil prices due to the current situation in global economy that has led to the decrease in demand for crude oil and petroleum products.

The Head of State held a working meeting on Wednesday with the Deputy Chairman of the Cabinet of Ministers Myratgeldi Meredov, who oversees the oil and gas industry, and Chairman of the Türkmennebit State Concern Guychgeldi Baygeldiyev.

During the meeting, the officials discussed issues of improving the activity of the fuel and energy complex and its further development, taking into account the complex world situation.

The Turkmen Leader emphasized the need to develop effective measures to maintain the achieved growth rates of oil production and fulfill the program obligations of the industry for 2020.

According to the President of Turkmenistan, tremendous work is being carried out in the oil and gas industry, new oil fields are being discovered and put into operation, such as Northern Goturdepe, Uzynada and Altynguyi, modern oil refineries are being created, and the volume of export of oil products to international markets is growing.

The Head of State instructed the meeting participants to carry out works in order to increase the production capacity of the fuel and energy sector, to develop its export potential on a multifaceted basis and to take the necessary measures to implement them.