OPEC HOLDS TECHNICAL WORKSHOP ,FOCUSES ROLES OF PETROLEUM IN THE ENERGY TRANSITION.

The organization of petroleum exporting countries OPEC has hosted the first-ever Technical Workshop with Energy Companies the participation of representatives from OPEC MEMBER COUNTRIES national oil companies, as well as non-OPEC DECLARATION OF COOPERATION (DoC )countries, in addition to experts from INTERNATIONAL OIL COMPANIES

(IOCs. )

The technical workshop accorded participants the platform to discuss key issues on the role of petroleum in the energy transition.

 OPEC Secretary General Mohammad Sanusi Barkindo noted that the workshop signifies a new milestone in OPEC’s ongoing outreach efforts and builds on the long tradition of promoting partnerships with a wide range of industry stakeholders, including public and private sector organizations and corporations.

 

The SG said that oil and gas will continue to play an important role in economic growth, with primary energy demand set to increase by 28% in the period to 2045. 

To meet these rising requirements, all forms of energy will be needed, including oil and gas

The SG pointed out that if underinvestment in the industry were to persist, there could be a supply shortfall and the potential for unwanted volatility and risks to energy security.

 

On the issue of climate change, the SG said that OPEC and its Member Countries will be actively involved in the upcoming COP26 that will start on the 31st of October in Glasgow, Scotland to advocate for a a balanced and equitable approach as the world seeks to mitigate the impacts of climate change.

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