OPEC Holds First Technical Workshop with Energy Cos

OPEC Holds First Technical Workshop with Energy Cos
The workshop attracted more than 100 participants.

The OPEC Secretariat has announced that it has hosted its first technical workshop with energy companies via videoconference.

OPEC said its workshop constitutes the organization’s latest outreach initiative to promote dialogue and international cooperation in support of its overarching objective of fostering a sustainable stability in the global oil market. OPEC noted that the event serves as a dynamic platform for national and international oil companies to discuss issues of mutual interest and exchange outlooks on the energy markets.

The workshop attracted more than 100 participants, including national oil company delegates from both OPEC member countries and non-OPEC countries participating in the charter of cooperation. Presentations and discussions were said to focus on a number of key issues relevant to the energy sector, including perspectives of national and international oil companies on the role of petroleum in the energy transition, efforts to bolster carbon capture projects, opportunities and challenges associated with the rapidly changing industry dynamics, as well as topics related to COP26.

“This inaugural event signifies a new milestone in OPEC’s ongoing outreach efforts and builds on our long tradition of promoting partnerships with a wide range of industry stakeholders, including public and private sector organizations and corporations,” OPEC Secretary General, Mohammad Sanusi Barkindo, stated during the opening of the meeting.

“OPEC has a long, historical connection to its member country national oil companies, and, more recently, we have intensified our efforts to hold informal meetings and exchange information with international oil companies,” he added.

In reference to climate change and the upcoming COP26 conference, Barkindo underlined the need to adopt an inclusive, fair and balanced approach when addressing the energy transition.

“Let me make it clear that OPEC supports the need to reduce greenhouse gas emissions, bolster innovation and enhance efficiency,” Barkindo stated.

“However, this cannot come at the cost of depleting industry investment. The fact remains: the world needs energy, energy requires investment and investment relies on companies,” he went on to say.

OPEC announced last week that it would be holding the first technical workshop with energy companies. In an OPEC statement at the time, Barkindo said the event signifies a new milestone in the organization’s outreach efforts. OPEC highlighted in the statement that it has been committed to supporting stability in the global oil market since its founding in September 1960 in Baghdad, Iraq.

COP26, or the 26th UN Climate Change Conference of the Parties, will be hosted by the UK in Glasgow from October 31 to November 12. The summit will bring parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change, according to a statement posted on the event’s website.

To contact the author, email andreas.exarheas@rigzone.com

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