2005 - OPEC

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Al-Ahmed Al-Jaber Al-Sabah, Prime Minister of Kuwait, for his generous patronage of the Meeting. Finally, the Conference voiced its special thanks to Sheikh Ahmad Fahad Al-Ahmad Al-Sabah, Minister of Energy of the State of Kuwait, and his staff for their warm hospitality and the excellent arrangements made for the Meeting. Resolutions that were passed will be published on 12 January 2006, after ratification by MCs. Joint statement of the 1st China-OPEC Energy Dialogue Beijing, People’s Republic of China, 22 December 2005 A formal Energy Dialogue has been established in Beijing today between the People’s Re- public of China and OPEC. The delegations were headed by Minister Ma Kai, Chairman of the National Development and Reform Commission, People’s Republic of China, and Sheikh Ahmad Fahad Al-Ahmad Al-Sabah, the OPEC President and Secretary General, who is also Kuwait’s Minister of Energy. The purpose of the Energy Dialogue is to establish a balanced, pragmatic framework for cooperation, and to develop an ongoing exchange of views at all levels on energy issues of common interest, in particular security of supply and demand, in order to enhance market stability. China’s economic growth requires secure, steady supplies of energy, while OPEC’s crude oil reserves and production are expected to continue growing, ensuring that there will be enough oil to meet rising world demand for decades to come. Some of OPEC’s MCs also have sub- stantial quantities of gas. The Energy Dialogue covers broad issues and will build upon the existing oil and gas bilat- eral investment and trading relations between China and many OPEC MCs. In doing so, it will provide an insight into critical global energy issues, as well as identify potential areas for cooperation. Both parties believe that effective producer-consumer dialogue provides a “win- win” situation for all participants, as well as for the industry as a whole. The framework for the China-OPEC Energy Dialogue was set up at today’s meeting, determining its objectives, scope, modalities and overall structure. It was stressed that there should be a pragmatic and sustained process of dialogue, that would maintain its momentum at all times, regardless of short-term developments in the market. It was agreed that there would be meetings at Ministerial level at mutually convenient times, as well as technical exchanges. Both parties will hold a high-level technical roundtable in Vienna in the first half of 2006.
Russia-OPEC meet on Energy Dialogue Moscow, The Russian Federation, 26 December 2005 Today a meeting took place in Moscow between delegations headed by Victor Khristenko, Minister of Industry and Energy of the Russian Federation, and Sheikh Ahmad Fahad Al-Ah- mad Al-Sabah, OPEC Conference President and Secretary General, who is also Minister of Energy of Kuwait. Russia and OPEC are major oil producers. Considering the growing energy demand for the global economy, both Parties are consistently increasing their exports of hydrocarbons and developing new supply capacities. Meanwhile, both Parties have a mutual interest in the pre- dictability and transparency of all factors affecting the oil market. The OPEC activities aimed at oil market stabilisation have been supported by Russia, thus having considerably increased their effectiveness. In addition, Russian and OPEC authorities have maintained numerous contacts at a high level, both informally and in the process of participation in conferences, workshops, and other events. Next week, Russia commences its Presidency of the G-8. The Russian Federation has adopted the energy security theme as the main strategic initiative. Russia stages a wide dialogue today. The Parties believe that major energy resource producers and growing consumers have to be involved in it. The Dialogue between Russia and OPEC offers an opportunity to provide a balanced and constructive common perspective of producers on the energy theme on the Agenda of the G-8 next year. The framework for the Russia-OPEC Energy Dialogue was set up at today’s meeting, determining its objectives, scope, modalities, frequency, and overall structure. It was stressed that there should be a pragmatic and sustained process of dialogue. It was agreed that there would be annual meetings at Ministerial level, as well as technical exchanges, seminars, joint studies and research. In addition to on-going oil market developments, other areas of interest to the two Parties included energy policies, upstream and downstream investment, data flow, and multilateral issues.
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Organization of the Petroleum Expor
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Foreword There are many words that
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As an industry we have to be inclus
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OPEC in the World Economy In 2005,
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significantly supported by savings
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The largest country in the region,
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$510.5 billion in revenues, compare
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Oil Market Developments OPEC produc
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Figure 1: Year-on-year percentage c
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Figure 3: OPEC 1 and non-OPEC 2 mar
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OECD OECD countries, which account
Page 26 and 27: Table 6 Summarised supply/demand ba
Page 28 and 29: Figure 4: Monthly movement of crude
Page 30 and 31: demand growth forecast for 2005 and
Page 32 and 33: closing at $57.82/b. The downward p
Page 34 and 35: Looking ahead, initiatives from OPE
Page 36 and 37: The freight rates of VLCCs on the M
Page 38 and 39: EU-OPEC Energy Dialogue In line wit
Page 40 and 41: million barrels a day for a period
Page 42 and 43: Russia-OPEC Energy Dialogue Russia,
Page 44 and 45: China-OPEC Energy Dialogue The birt
Page 46 and 47: OPEC Acting Secretary General expre
Page 48 and 49: Dr Edmund M Daukoru, Presidential A
Page 50 and 51: is fully met, and global crude oil
Page 52 and 53: particular the fourth quarter 2005,
Page 54 and 55: in the Middle East and North Africa
Page 56 and 57: increased activity in the oil futur
Page 58 and 59: & Energy and Head of its Delegation
Page 60 and 61: forward to hosting the next EU-OPEC
Page 62 and 63: OPEC President sends US Energy Secr
Page 64 and 65: what additional measures could be t
Page 66 and 67: implementing costly investment plan
Page 68 and 69: tion remaining committed to so enha
Page 70 and 71: panding the role of oil in meeting
Page 72 and 73: Brussels on 9 June, including the f
Page 74 and 75: The Conference considered the repor
Page 78 and 79: Activities of the Secretariat Offic
Page 80 and 81: stocks at comfortable levels, and h
Page 82 and 83: oil in meeting future global energy
Page 84 and 85: In addition to the close monitoring
Page 86 and 87: through regular dissemination of el
Page 88 and 89: support from the RD, also updated a
Page 90 and 91: 2005 were stored in the OPEC archiv
Page 92 and 93: ALGERIA Dr Chakib Khelil Minister o
Page 94 and 95: Members of the Board of Governors M
Page 96 and 97: National Representatives to the ECB
Page 98 and 99: Diary of the President/Secretary Ge
Page 100 and 101: 100 Calendar January 14 OPEC-United
Page 102 and 103: June 14 Meeting of the OPEC Legal D
Page 104 and 105: November 28- COP-11-Meeting of the
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2005 - OPEC

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