Mohammed Barkindo: OPEC needs to reassess management structure under conditions of energy transfer
16:51 13.07.2020 4867
The COVID-19 pandemic has proven that it is necessary to reconsider the architecture of energy management, climate change and, possibly, geopolitics, said Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammed Barkindo, INTERFAX reports."After COVID-19, we, as an industry, should dwell in great detail on what types of structures we need to leave, based on the experience of these several months and on the shocks that the world has experienced in order not only to avoid future troubles, but also to make the world on the right pedestal in terms of energy and climate change. We really need to come up with a governance structure that will prepare the transition in accordance with the climate agenda", - he said in an interview with IHS “Markit” Senior Vice President Carlos Pasqual.The European Union has adopted a policy to end the use of fossil fuels, which is oil. As EU Commissioner for Energy Kadri Simson said: “Our main message to them (partners) is that the EU’s goal is to become climate neutral by 2050.” “This means that by then we will be phasing out fossil fuels”, - she said.Barkindo noted that the pandemic has affected both climate and human communities around the world. “There are some forecasts that we will not be able to continue in this vein. And the structures that we have now (OPEC regulates the oil market by agreeing on the volume of production cuts between the participating countries - IF) may not be suitable for us. This it depends on us, as on the industry, on politicians, on scientists, to come together without any hindrance, to really conduct a global assessment of what we have", - he said."OPEC will turn 60 in September this year. We intend to use this opportunity to evaluate our existence over the past 60 years - what we have lost, where we would have to act separately, and how we will adapt to a rapidly changing world in the future", - Secretary General of OPEC summed up.
World oil supplies hit post-pandemic high in July, – IEA
Global oil supplies in July reached a post-pandemic high amid an increase in production by OPEC+ countries, as well as a significant recovery of the industry after maintenance in a number of regions, Interfax writes, citing a monthly report from the International Energy Agency (IEA).
Participants of the transport conference in Turkmenbashi determined
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XXVII International Conference «Oil and Gas of Turkmenistan -2022» will be held on October 26-27
On October 26-27, 2022, Ashgabat will host the XXVII International Conference «Oil and Gas of Turkmenistan -2022». The organizers of the forum are the State Concerns «Turkmengas», «Turkmennebit» and the State Corporation «Turkmengeology» in partnership with the company «Turkmen Forum» with the support of the British company GaffneyCline, according to the website of the organizers.
SC «Turkmennebit» intends to reduce the loss of associated gas
The state concern «Turkmennebit» is working on a massive reduction in the loss of associated petroleum gas, collecting it at the oil wells of the Lebap, Mary and Balkan regions of Turkmenistan.
Spot gas price in Europe exceeds $2,300 per thousand cubic meters
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