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EU-OPEC ENERGY DIALOGUE

Overview

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 cooperation.

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 industry.

A yearly meeting at ministerial level has been programmed.

STUDY ON OIL REFINING AND OIL MARKETS

EU-OPEC energy dialogue

  • EU-OPEC Round Table

Second EU-OPEC Round Table on Carbon Capture and Storage, Brussels, 31 October 2008

Agenda

List of participants

Opening

Key-note speech

Session 1

Session 2

Session 3

Panel discussion

Closing remarks

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 future markets.

Joint Press Release OPEC-EU Workshop on the Impact of Financial Markets on the Oil Price

On 30 May 2007, the second EU-OPEC Round Table on energy policies will be held in Brussels.

Presentations:

Energy for a Changing World
Jean-Arnold Vinois, DG TREN
Actions for a Post-Industrial Revolution - The Action Plan
Biofuels and other alternative fuels for road transport
Paul Hodson, DG TREN
EU-Strategy on Hydrogen and Fuel Cells
Franz Söldner, DG TREN
EU–Trend and Energy Policy Scenarios
Manfred Decker, DG TREN
Climate change
Piotr J. Tulej, DG ENV
World's future oil demand
Hossein Kazempour Ardebili
Oil Outlook: OPEC’s perspective
Mohamed Hamel, Head, Energy Studies Department
The Role of the Downstream
Dr. Fuad Siala, OPEC Secretariat
OPEC Oil Production Capacity
Dr Nimat B. Abu Al-Soof, Upstream Oil Industry Analyst
Saudi Arabian Upstream & Downstream Investments

Outlook of oil and gas development in Algeria
Sonatrach

  • EU-OPEC Ministerial Meetings

The 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.

The 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.

The 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.

The  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

Agenda
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 Department OPEC
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 OPEC
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 (Eurostat) are two of the seven international organisations behind the development of the JODI database.

 

 

last update: 11-02-2009