EU-OPEC ENERGY DIALOGUE
The EU imports around 40% of its oil from the Organisation of
the Petroleum Exporting Countries (OPEC).
High oil prices and uncertainty in oil markets have been encouraged by growth in
oil demand and a reduction of spare capacity. In this context, the EU and OPEC
have established in the second half of 2004 a high-level bilateral dialogue to
enhance producer-consumer relations.
The EU aims at a more stable international oil markets and
prices, an attractive investment climate, a more transparent market, a better
market analysis and forecasts as well as, technological and international
OPEC’s role is the coordination of petroleum policies, fair
prices for petroleum producers and efficient, economic, regular supply to
consuming nations and a fair return in capital to those investing in the
A yearly meeting at ministerial level has been programmed.
STUDY ON OIL REFINING AND OIL MARKETS
EU-OPEC energy dialogue
Second EU-OPEC Round Table
on Carbon Capture and Storage, Brussels, 31 October
List of participants
In November 2005, the first EU-OPEC Round Table on
oil market developments took place in Vienna. It identified three main
issues for further joint consideration: More accurate global oil demand
forecasts, the constraints in the refining sector and a better understanding
of the impact of the financial markets, specially the effect of trading in
Joint Press Release OPEC-EU Workshop on the Impact of Financial Markets on the
On 30 May 2007, the second EU-OPEC Round Table
policies will be held in Brussels.
- EU-OPEC Ministerial Meetings
first EU-OPEC energy dialogue at ministerial level was held on 9th June
2005. The main areas of discussion were oil prices, greater data
transparency on stocks and investment needs. A work programme for the future
was agreed to further develop these issues.
second EU-OPEC energy dialogue at ministerial level was held in December
2005 in Vienna. The tightness on the refining sector and the financial
markets were still two areas of main concern.
third EU-OPEC energy dialogue at ministerial level was held on June
2006. It focused on new technologies, especially on the capture and storage
of carbon dioxide.
fourth EU-OPEC energy dialogue at ministerial level will take place on
21 June 2007 in Vienna (Austria).
EU-OPEC Energy Dialogue 5th meeting, Brussels, 24 June 2008
Director General Ruete´s speech
Recent Oil Market Developments and Prospects
Hasan M Qabazard, Director, Research Division, OPEC Secretariat
EU-long term energy scenarios
Sandro Santamato, DG TREN
World Oil Outlook, Mohamed Hamel, Head, Energy Studies
World Oil Outlook OPEC Background Paper
Study and Workshop on Oil Refining
Progress Report on Impact of Financial Markets on the Price of Oil
Mohammad Alipour-Jeddi, Head, Petroleum Market Analysis Department
Workshop on Carbon Capture and Storage
Cooperation in Science, Technology, Education and Training
- Producer-Consumer dialogues
Progress in the producer-consumer dialogues has also been
proven by other initiatives:
The formal inauguration of the
International Energy Forum’s Secretariat in Riyadh, Saudi Arabia. The
IEF is the main global platform for producer-consumer dialogue.
The official launching of the
Joint Oil Data Initiative (JODI) Database. OPEC and European Commission
are two of the seven international organisations behind the development of
the JODI database.