OPEC says more than 1,000 ministers, CEOs, policymakers, analysts and journalists were invited to its biennial seminar to discuss key trends in the oil and gas markets and the green transition.
Here were three of the main topics under discussion:
Across speeches and interviews, OPEC ministers once more advocated for a dual-pronged approach to the green transition that still allows investment in hydrocarbons to avoid supply shortages while availabilities of renewables increase.
“Oil and gas will remain essential. Particularly in transportation, in heavy industries, and in the development of the emerging economies,” Saudi Prince and Energy Minister Abdulaziz bin Salman said during his special remarks on Wednesday. “It is encouraging to see that many countries are now taking a more pragmatic view of the transition, reassessing timeline, adjusting policies and reaffirming the role of hydrocarbon in supporting energy security and competitiveness.”
OPEC Secretary-General Haitham al-Ghais echoed this view in a Thursday interview with CNBC’s Dan Murphy:
