The government will discuss with the United Arab Emirates(UAE) ways to cooperate on oil reserves amid heightened tensions between the U.S. and Iran.
The Ministry of Trade, Industry and Energy announced on Friday that the head of its Office of Energy and Resources, Joo Young-joon, will attend the tenth session of the International Renewable Energy Agency Assembly and the opening ceremony of Abu Dhabi Sustainability Week that kicks off on Saturday.
Joo is set to meet with key UAE government officials and business figures to discuss the latest conditions in the Middle East and seek ways to strengthen cooperation on oil reserves.
Joo will also hold talks with South Korean energy companies in the UAE and go over ways to respond to any sudden developments in the region.
Amid the U.S.-Iran conflict, the government and related agencies are monitoring the real-time supply and demand of oil, oil prices and the status of tanker operations.
The government has strengthened its preparedness to immediately release reserved oil in case supply and demand are disrupted.
[Photo : YONHAP News]