Cabinet approves draft cooperation pact among oil producers

Saudi Cabinet today approved the draft charter of cooperation among oil producing countries, and delegated energy minister or designee to sign the charter with his Russian counterpart.

The minister was also authorized to discuss with Russian officials a draft protocol for cooperation between the Saudi and Russian energy ministries, as well as draft Memorandum of Understandings (MoUs) covering the following; fostering and safeguarding mutual investments, increasing agriculture and food products exports, fiscal administration, civil aviation security and media cooperation.