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18 Jun 2022

OPEC Secretary General takes part in Iraq Energy Forum 2022, receives an award

OPEC Secretary General, HE Mohammad Sanusi Barkindo, participated in the Sixth edition of Iraq Energy Forum in Baghdad, Iraq.

The event is planned for 18 to 20 June 2022 under the theme “Global Energy Security in Times of Conflict and Uncertain Economic Recovery.”

The Secretary General’s participation included delivering a keynote address at the Forum’s opening and taking part in a plenary session to discuss energy security and stability in the global oil market.

In his address, the Secretary General thanked the Organizers for the invitation to participate in the leading energy gathering, highlighting its timeliness and importance given recent industry developments.

“Since I attended the first iteration of this event in 2016, this Forum has gone from strength to strength to become an influential event, not only for Iraq, but for the entire Middle East region. It continues to attract leading energy figures from across the global industry,” Barkindo added.

“The unity, peace, stability, economic growth and prosperity of Iraq and its people is of a fundamental importance to OPEC,” the Secretary General stated.

Barkindo underscored the vital role that cooperation and multilateralism can play in the future of OPEC and the energy industry. He said that it is important to recognize there is no one-size-fits all pathway and we need to take an all-options approach, an all-solutions approach, and an all-technologies approach.

“At OPEC, we believe that multilateralism should be at the heart of our energy, climate and sustainable development future. OPEC and its Member Countries have been directly involved in the evolution of the multilateral UNFCCC, whose core elements, particularly equity, common-but-differentiated responsibilities and national circumstances, must remain central to all processes moving forward,” he stated.

The Secretary General added: “There is no doubt that the oil and gas industry can leverage its resources and expertise to help unlock a low-emissions future through its role as a powerful innovator in developing clean and more efficient technological solutions to help reduce emissions.”

Barkindo underlined the importance of sustainable investment in the oil industry to ensure that supply meets demand. He noted that a total investment of $11.8 trillion is required through 2045, referencing OPEC’s World Oil Outlook 2021.

Following the opening ceremony, the Organizers presented the Secretary General with the prestigious Iraq Energy Award from the Iraq Energy Institute in recognition of his many years of achievements and dedication to OPEC, its Member Countries and the global energy industry.

The Secretary General also participated in a plenary session titled ‘Global Energy Security and the Pursuit of Stable Markets’. It focused on recent energy market trends, OPEC’s role in energy security, prospects for the oil and gas industry, and the Declaration of Cooperation.

HE Ali Allawi, Iraq’s Deputy Prime Minister of Economic Affairs and Minister of Finance, was among the session’s participants.

In its sixth iteration, the Iraq Energy Forum, which is the country’s energy and economic flagship event, provided a platform for lively discussion and interactive exchange between a wide range of industry stakeholders.

The American University of Iraq in Baghdad (AUIB) has appointed the Secretary General as an Honorary Professor. AUIB is a co-organizer of the Iraq Energy Forum 2022, along with the Iraq Energy Institute and the Iraqi Government.

Iraq will also host the launch of OPEC’s history book titled “OPEC 60 years and beyond: A story of courage, cooperation and commitment” in the Al-Shaab Hall in Baghdad tomorrow, 19 June 2022. The Secretary General and Minister Ismaael will be present.