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13 Dec 2017

OPEC Secretary General’s Mission to China concludes

OPEC Secretary General, HE Mohammad Sanusi Barkindo, completed a successful mission to China by participating at the International Energy Executive Forum 2018, held today in Beijing. The event rounded off an extremely fruitful week of engagements for OPEC officials, in which representatives from OPEC and China reaffirmed the critical importance of enhancing cooperation across a broad spectrum of issues.

The first engagement on the Secretary General’s itinerary was the Second High-Level Meeting of the OPEC-China Energy Dialogue, which took place yesterday, 12 December. In advance of the meeting, HE Barkindo held bilateral talks with HE Nur Bekri, Vice Chairman of China’s National Development and Reform Commission (NDRC) and Administrator of the National Energy Administration (NEA). Both sides stressed the pivotal role the Chinese-OPEC relationship will play in the future of the oil industry. A series of options for increasing interaction at the technical level were discussed.

Following the meeting, HE Bekri graciously hosted a working lunch, which also involved the participation of the Secretary General of the International Energy Forum, Dr. Sun Xiansheng. At this gathering, the prospering IEF and OPEC relationship was also discussed.

Today, HE Barkindo’s partook at the International Energy Executive Forum, which was organized jointly by the China National Petroleum Corporation’s Economics and Technology Research Institute (CNPC ETRI) and IHS Markit, in a panel discussion with Professor Daniel Yergin, Vice Chairman of IHS Markit, chaired by Dr. Sun.

In his remarks, HE Barkindo emphasized the mutual benefits of the dynamic and enduring bonds between China and all OPEC Member Countries, updated delegates on the conclusions of the 173rd Meeting of the OPEC Conference and the 3rd OPEC and non-OPEC Ministerial Meeting, and outlined the Declaration of Cooperation’s success in contributing to market rebalancing. The Secretary General then fielded questions from the floor and was interviewed by Bloomberg Television and the Chinese publication, “International Petroleum Economics Monthly.”

Earlier in the week, a delegation from the OPEC Secretariat, led by the Director, Research Division, Dr. Ayed S. Al-Qahtani gave a presentation on the 2017 edition of the WOO to the CNPC ETRI and the Energy Research Institute (ERI) of the NDRC, as part of the roll-out programme for OPEC’s flagship publication.

In summarizing the Mission, HE Barkindo said, “It has been a privilege for me to travel to China, the first time I have had the opportunity to do so since assuming the position of Secretary General last August. Our Chinese counterparts have been outstanding hosts. This is an exciting time for OPEC-China relations and I am confident, given our common objectives and commitment to enhanced cooperation, that the future is bright for this wonderful partnership.”