Live-Übertragung des OPEC Seminars aus der Hofburg Wien.
The Fourth OPEC International Seminar, entitled “Petroleum: Future Stability and Sustainability” took place at the historic Hofburg Palace in Vienna, Austria, on March 18-19, 2009.
The Seminar’s four main sessions concentrated on: the future energy scene; oil and financial markets; oil production capacity expansion; and technology and the environment.
In addition, a special session on food security and biofuels, hosted by the OPEC Fund for International Development, and a concluding panel discussion on petroleum for sustainable development emphasized the importance OPEC attaches to the plight of the poorer nations and the role that access to energy services can play in eradicating poverty.
On 18–19 March 2009, the Organization of the Petroleum Exporting Countries (OPEC) convened its Fourth International Seminar under the theme “Petroleum: Future Stability and Sustainability” at the historic Hofburg Palace in central Vienna. Regarded as a premier annual forum for high-level energy dialogue, the two-day Seminar brought together senior energy ministers, heads of intergovernmental organizations, CEOs of national and international oil companies, finance executives, academics and representatives of the specialist media.
Seminar Objectives and Scope
The 2009 Seminar sought to:
-
Assess market stability in the wake of the global financial crisis and volatile oil prices
-
Highlight investment needs across the petroleum value chain to ensure long-term energy security
-
Examine sustainability challenges, balancing economic development, environmental protection and social equity
-
Foster inclusive dialogue among producers, consumers and financial stakeholders on pathways for a reliable global energy mix
Participation
-
12 OPEC Member Country Delegations
-
Energy Ministers from non-OPEC producing and consuming nations
-
Heads of intergovernmental bodies such as the International Energy Agency (IEA) and United Nations Industrial Development Organization (UNIDO)
-
CEOs and senior executives of major international oil companies
-
Leaders of sovereign wealth and development funds, plus financial institutions
-
Over 200 industry analysts, academics and media representatives
Key Sessions and Highlights
-
Opening Ceremony
-
Welcome address and official opening by OPEC Secretary General, Dr. Abdullah al-Badri
-
-
Ministerial Session: Market Stability and Energy Security
-
Debates on price volatility, strategic stockpiling and coordinated policy responses
-
-
High-Level Roundtable: Investment and Financing
-
Exploring capital requirements for upstream and downstream projects amid tightening credit markets
-
-
Panel Discussion: Technology and Environment
-
Balancing oil’s pivotal role with cleaner production technologies, carbon management and emission-reduction strategies
-
-
Roundtable on Sustainability Trilemma
-
Reconciling the three pillars—economic viability, environmental protection and social equity—through diversified energy policies[ LINK].
-
Outcomes and Key Messages
-
Reaffirmed commitment to stabilize oil markets through cooperation among OPEC and non-OPEC producers
-
Emphasized necessity of continued investment in exploration, production and refining capacity to meet near-term demand
-
Underlined role of petroleum in supporting global development, while acknowledging the imperative to adopt cleaner technologies and improve energy efficiency
-
Called for inclusive approaches, recognizing that no single policy or energy source can address future challenges, and that tailored pathways are required for both developed and developing economies[LINK ].
Further Reading and References
-
OPEC International Seminar official overview: “About the Seminar” on the OPEC website
-
Statement by Christiana Figueres, UNFCCC Executive Secretary, at the Fifth Seminar, reflecting continuity of themes from 2009
-
OPEC Bulletin coverage of the Seminar’s discussions on the sustainability trilemma and investment challenges[ LINK ]
