The 12 th Ministerial-level International Energy Forum (IEF) concluded in Cancun, Mexico, on March 31 after adopting a joint declaration committing member countries to step up dialogue and cooperation in order to stabilise the world energy market.
The joint declaration highlighted the need for compiling an IEF Charter, maintaining the principle of neutrality, holding open and frank talks and not to encroach upon the operations of either the International Energy Agency (IEA) or the Organisation of Petroleum Exporting Countries (OPEC).
The IEF delegates discussed ways of researching and using alternative energies to stabilise the oil price and protect the environment.
Speaking at a joint press conference, the Mexican Minister of Energy Georgina Kessel Martinez called upon all countries to pay more attention to transparency and the necessary liquidity of the energy market, which will strongly affect future investment flows in every country in the world.
According to OPEC’s General Secretary Abdullah Al-Badri, speculating and the irresponsible behaviour by several oil consuming countries in announcing data on their national oil reserves are two of the reasons which have led to fluctuating oil prices.
He also supported the IEF’s proposal to establish a joint oil database system by collecting the annual data of the world’s 30 largest oil producers and consumers.
Established 20 years ago, the IEF, which is the world’s largest gathering of energy ministers is held every two years and includes OPEC and IEA member’s countries and newly emerging economies such as Brazil , China and India .
This year’s conference attracted more than 300 delegates from 66 member countries and representatives from 16 international organisations and 38 of the world’s leading groups./.
The joint declaration highlighted the need for compiling an IEF Charter, maintaining the principle of neutrality, holding open and frank talks and not to encroach upon the operations of either the International Energy Agency (IEA) or the Organisation of Petroleum Exporting Countries (OPEC).
The IEF delegates discussed ways of researching and using alternative energies to stabilise the oil price and protect the environment.
Speaking at a joint press conference, the Mexican Minister of Energy Georgina Kessel Martinez called upon all countries to pay more attention to transparency and the necessary liquidity of the energy market, which will strongly affect future investment flows in every country in the world.
According to OPEC’s General Secretary Abdullah Al-Badri, speculating and the irresponsible behaviour by several oil consuming countries in announcing data on their national oil reserves are two of the reasons which have led to fluctuating oil prices.
He also supported the IEF’s proposal to establish a joint oil database system by collecting the annual data of the world’s 30 largest oil producers and consumers.
Established 20 years ago, the IEF, which is the world’s largest gathering of energy ministers is held every two years and includes OPEC and IEA member’s countries and newly emerging economies such as Brazil , China and India .
This year’s conference attracted more than 300 delegates from 66 member countries and representatives from 16 international organisations and 38 of the world’s leading groups./.
