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OPEC bulletin 3–4/17

CERAWeek 2017

C E R A W e e k

“They are asking questions, the same questions we

are asking,” Barkindo told a gathering of reporters in

Houston. “We are all learning, because this is new in the

world of oil.” He added that he hoped that this was “just

the beginning of the dialogue.”

The financial and investment


The OPEC Secretary General also participated in an IHS

Markit-organized meeting with leading actors from the

financial and investment community; an opportunity to

exchange viewpoints and further explore the interactions

between financial and physical markets.

Barkindo said: “Times have changed, we are more

globalized … the impacts of the financial markets on oil

continue to be magnified. They are key players in this

industry. Their actions in the market, be they long or

short, have an impact on our industry. We have to better

our understanding of these stakeholders and adapt to

any new changes.”

The meeting at CERAWeek 2017 was followed soon

after at the OPECSecretariat in Vienna by the 2


Joint IEA-

IEF-OPEC Technical Meeting on the Interactions between

Physical and Financial Energy Markets.

The gathering of experts on this subject has devel-

oped into a unique, high-level technical event and brings

together a diverse range of market participants to discuss

issues that are not addressed in other high-level fora.


more information on this meeting, see



Other engagements

CERAWeek 2017 was also an occasion for the OPEC

Secretary General to garner views and opinions from

other senior oil industry executives with bilateral meet-

ings held with Eldar Sætre, CEO of Statoil; John Hess,

CEO of the Hess Corporation; Darren Woods, Chairman &

CEO of ExxonMobil; José Antonio González Anaya, CEO of

Pemex; Bob Dudley CEO of BP; and Ryan Lance, Chairman

and CEO of ConocoPhillips. The meetings were an oppor-

tunity to discuss the major issues facing the global oil

sector, in both the short- and long-term, as well as the

energy sector more generally.

Barkindo also held a bilateral meeting with Patricia

Espinosa, Executive Secretary of the United Nations

Framework Convention on Climate Change (UNFCCC). The

two discussed the importance of enhancing collaboration

between OPEC and the UNFCCC on suchmatters related to

climate change, sustainable development and economic

diversification. The meeting further builds on the ongo-

ing involvement of OPEC in climate change negotiations

and the active participation of its Member Countries.

The Secretary General in addition met with repre-

sentatives from the Centre for Strategic and International


Sanusi Barkino,

OPEC Secretary