The Seventh High-Level Meeting of the OPEC-China Energy Dialogue takes place in Vienna

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Vienna, Austria
19 Mar 2024

[Joint Conclusion] The Seventh High-Level Meeting of the OPEC-China Energy Dialogue was held today, 19 March 2024, at the OPEC Secretariat in Vienna, Austria.

The Meeting was co-chaired by HE Haitham Al Ghais, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), and HE Zhang Jianhua, Administrator of the National Energy Administration (NEA) of the People’s Republic of China. HE Li Song, Ambassador at the Permanent Mission of the People's Republic of China to the United Nations and other International Organizations in Vienna, participated in the Meeting and delivered opening remarks.

In his remarks, HE Al Ghais highlighted the importance of the OPEC-China Energy Dialogue, noting that this framework for cooperation continues to go from strength to strength.

“Our regular exchanges of views – at all levels – on energy issues of common interest remain extremely valuable, contributing to stability in the oil market in the interests of producers, consumers and the global economy alike, and in helping meet the challenges we face in evolving a sustainable energy future for all,” the OPEC Secretary General added.

HE Al Ghais emphasized that “OPEC and its Member Countries will continue to provide the affordable energy that China needs to meet its rising energy demand, with our interconnectedness in the sphere of energy underlining the strength of our relationship.”

HE Administrator Zhang Jianhua pointed out that China has always regarded OPEC as an important force and partner in the global energy governance. As we speak, China's economy has enjoyed a stable and rapid growth. Going forward, China's energy demand will still maintain rigid growth. We will coordinate energy transformation and security, unswervingly follow the path of high-quality development that puts environment protection as one of priorities and features green and low-carbon, accelerate the construction of a new energy system, carry out all-round international cooperation on energy, and promote the establishment of a new model that is green, low-carbon and reciprocal. China will insist on establishing the new before abolishing the old, actively and steadily achieve carbon peak and carbon neutrality. China is willing to work with OPEC and other international energy organizations to deeply participate in the reform of international energy governance and promote the establishment of a fair, just, balanced and inclusive global energy governance system.

HE Ambassador Li Song said that China is the world's second largest economy and the largest oil importer, while OPEC is the most important international organization in the oil field. Strengthening dialogue and exchange is in line with the strategic interests of both sides and is of great significance for jointly maintaining global energy security. China and OPEC member countries belong to the "Global South". China is willing to work with OPEC to speak out for the "Global South", actively support the agendas and initiatives in the energy sector that are conducive to promoting international development cooperation and benefiting developing countries, and actively promote the implementation of the three major Global Initiatives put forward by President Xi Jinping.

The Meeting commended the progress made in strengthening the cooperation between OPEC and the People's Republic of China through the framework of the OPEC-China Energy Dialogue. Parties also expressed their firm commitment to enhancing collaboration going forward, including at the technical and research levels.

Experts exchanged views on market outlooks, energy transitions and the importance of oil in securing a sustainable energy future.

The Eighth High-Level Meeting of the OPEC-China Energy Dialogue is scheduled to take place next year.