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OPEC bulletin 10/17

F o r u m

Secretary General addresses first

India Energy Forum

OPEC Secretary General,

Mohammad Sanusi Barkindo,

delivered the remarks

published below in a plenary session of the India Energy Forum in New Delhi on

October 10, 2017.

I

should first like to thank the Government of India, under the

able leadership of Prime Minister Narendra Modi, for hosting

this prestigious, high-level gathering here in New Delhi. It is

always a great pleasure to return to your great country, with its rich

history, culture and traditions. On behalf of OPEC, kindly accept our

best wishes for the forthcoming Du Vali.

This inaugural forum is the first ‘CERAWeek’ to be held in India,

marking a new promising phase of India’s transition to a global eco-

nomic powerhouse — a new India.

This premier energy forum also marks a new stage in the grow-

ing strategic relationship between OPEC and India, and builds on

previous meetings and interactions that we have had so far.

My friend, Hon Minister Pradhan, reminded me during our

OPEC-India bilateral meeting, that within less than a year, we have

already met five times.

As Secretary General, I visited New Delhi on the occasion of the

2016 Petrotech Conference in December of last year. Along with

some of my colleagues from the OPEC Secretariat, we had a series

of high-level productive meetings with government and industry

leaders.

We again learnt of India’s solid and steadfast support for the

work of the Organization, particularly its ongoing efforts seeking oil

market stabilization, and noted its deep appreciation for the value

of the ongoing OPEC-India Dialogue.

This was followed, earlier this year, on May 22 in Vienna, by the

2

nd

High-level Meeting of the OPEC-India Energy Dialogue. Attended

by India’s Minister of Petroleum and Natural Gas, Dharmendra

Pradhan, and joined by Indian oil industry leaders, it built on ear-

lier high-level gatherings in a solid and substantive way.

The dialogue between OPEC and India — the relationship that

we celebrate here today — is rather unique given India’s role as one

of the most dynamic countries in the world.

The oil and gas industry, in particular, is expanding rapidly. It is

not only fuelling the country’s vibrant economy, enticing investors

and oil producers from near and far. It is also serving as a ‘focal

point’ for some of the leading joint projects being undertaken by

OPEC’s Member Countries, who recognize India’s unprecedented

growth potential.

Such projects signal India’s rapidly growing importance on the

global energy scene.

India’s economy has been experiencing some of the greatest

structural changes in a generation. A slate of bold new reforms,

embarked upon under the visionary leadership of Prime Minister

Mohammad Sanusi Barkindo (r), OPEC Secretary General, with Daniel

Yergin (l), Vice Chairman, IHS Markit.