Challenges of OPEC

Speaker: Dr. Adnan Shihab-Eldin, Secretary General of OPEC

Our guest speaker, Dr Adnan Shihab-Eldin, Secretary General of the Organisation of Petroleum Exporting Countries(1), described the situation of the world oil markets and its consequences for Europe after the events that shook the international oil prices.

Dr Shihab-Eldin informed the audience on how OPEC intends to face growing demand in the coming years and on how it sees the development of technologies and investments in order to keep on producing from existing reserves.

The relationship between International Oil Companies (IOC) and National Oil Companies (NOC) as well as the cooperation with non-OPEC producing countries have also been tackled.

This European Energy Forum event concluded a series of events before the 2005 summer recess. As usual, it gathered Members of the European Parliament together with representatives from other European Institutions. 
Representatives of the Parliamentary Assembly of the Council of Europe also joined us.