1 July 2010

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Background

Practical Information

Oil bulletin: The European maps covering the consumer prices of Euro-super 95 and automotive gas oil have been updated

The Market Observatory for Energy presents consumer prices and net prices (excluding duties and taxes) of petroleum products in the EU member states each week. The Oil Bulletin is designed to improve the transparency of oil prices and to strengthen the internal market.

From time to time (typically ahead of holiday periods) MAPS with the € prices for Automotive Gas Oil and Euro-Super 95 at pump in the 27 Member States are published.
 

[Automotive Gas oil Map]

[Euro-Super 95 Map]

 

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Call for interest: Establishing the Board of Appeal for ACER Agency

The Agency for the Cooperation of Energy Regulators (ACER) has published a call for interest regarding the establishment of a Board of Appeal. ACER intends to play a key role in the liberalisation of the Community electricity and natural gas markets.

The members of the Board of Appeal will be formally appointed by the Administrative Board, on a proposal from the Commission, following a public call for expression of interest, and after consultation of the Board of Regulators.

Applications must be sent by e-mail no later than 30 September 2010 (date of email).

 

[Public call for interest / information]

 

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Background

Conclusions of the EU-OPEC Energy Dialogue

 

The seventh ministerial-level meeting of the Energy Dialogue between the European Union (EU) and the Organisation of the Petroleum Exporting Countries (OPEC) took place in Brussels this week, in presence of Günther Oettinger, EU Commissioner for Energy.

This year’s meeting was taking place against a backdrop of continued financial constraints and economic concerns, although there are signals that the global economy is emerging from the crisis, albeit at different paces in different regions. Hence, the meeting underlined the important role that the dialogue has been playing in facilitating constructive exchanges between the parties to help restore stability to the markets, in the interests of producers and consumers alike.

Participants reiterated their mutual interest in stable, transparent, and predictable oil markets. The meeting also repeated its conviction that, in order to minimise the risk of facing excessive market volatility, adequate regulatory reforms, including greater transparency, need to be part of an overall reshaping of the global financial sector.

The EU-OPEC Energy Dialogue will continue to analyse and discuss the root causes of the recent financial crisis and economic recession, including the financial losses incurred by producing countries.

Participants also looked at global economic developments and the longer-term energy outlook. Both OPEC and the EU thereby noted that fossil fuels would continue to meet most of the world’s energy needs, with oil playing the leading role.

The reciprocal nature of energy security was equally emphasized, with security of demand recognised as being as important to producers as security of supply is to consumers. Both parties agreed on the importance of sharing information on future demand and supply scenarios. They also recognised the benefits and increasing importance of the Joint Oil Data Initiative, in which both institutions participate.

Moreover, EU and OPEC reaffirmed their commitment to the principles of sustainable development, with its three mutually supportive pillars of economic development, social progress and protection of the environment, as well as recognition of the special needs of the world’s poorest communities.

EU-OPEC activities for the coming year:

  • International roundtable on the challenges facing offshore oil and gas exploration and production activities

  • Study to explore the potential of technological advances in transportation and the time-frame for their introduction in different regions, and to assess their impact on oil demand.

  • Roundtable to examine the causes of the skilled workforce shortage in the energy and oil industry

 

The 8th EU-OPEC Ministerial Meeting is scheduled to take place in June 2011 in Vienna.

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