2005 - OPEC

tion remaining committed to so enhancing and strengthening cooperative relations between
producers and consumers. The Conference elected Dr Edmund M Daukoru, Minister of State
for Petroleum Resources of Nigeria and Head of its Delegation, as President of the Conference
for one year, with effect from 1 January 2006, and Mohamed Bin Dhaen Al Hamli, Minister
of Energy of the United Arab Emirates and Head of its Delegation, as Alternate President, for
the same period. The Conference appointed Dr Maizar Rahman, Governor for Indonesia, as
Chairman of the BoG for the year 2006, and Hossein Kazempour Ardebili, Governor for the
IR Iran, as Alternate Chairman for the same period, with effect from 1 January 2006.
The Conference reviewed the report from the Deputy Ministers on the Long-Term Strategy
(LTS) and decided to adopt the proposed LTS. The Conference recorded the Organization’s
particular thanks to HRH Prince Abdulaziz Bin Salman Bin Abdulaziz Al-Saud, Chairman of
the Meetings of the Deputy Ministers of Petroleum/Energy on Long-Term Strategy; Dr Bernard
Mommer, Vice Chairman; all Heads and Members of Delegations to these Meetings; as well as
the staff of the Secretariat involved, for the outstanding work they had performed in drawing
up a comprehensive long-term strategy for the Organization.
The Conference decided that its next Ordinary Meeting will convene in Vienna, Austria, on 8
March 2006. The Conference expressed its appreciation to the Government of the Republic of
Austria and the authorities of the City of Vienna for their warm hospitality and the excellent
arrangements made for the Meeting. In addition, the Conference recorded its particular thanks
to the Mayor and authorities of the City of Vienna for the organization of events to celebrate
the 40th Anniversary of the OPEC Secretariat’s move to Vienna. Finally, the Conference passed
Resolutions that will be published on 20 October 2005, after ratification by MCs.
OPEC adopts comprehensive Long-Term Strategy
Vienna, Austria, 20 September 2005
OPEC has adopted a comprehensive Long-Term Strategy (LTS) at its Ministerial Conference
which ended in Vienna today. This strategy, which was prepared over a period of two and
a half years, provides a coherent and consistent vision and framework for the Organization’s
future. It recognises the important role of oil in the world economy at large and for the
socio-economic development of OPEC MCs. The strategy defines specific objectives, identifies
the key challenges that the Organization faces now and in the future, and explores scenarios
for the energy scene. It is designed to be robust and adaptive throughout the various possible
futures.