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OPEC bulletin 10/17

grow in Asian non-OECD countries by 16m b/d between

2016 and 2040, which is substantially larger than any

other region in the world.”

He further articulated Asia’s importance with regard

to refinery capacity and trade flows.

In conclusion, the Secretary General highlighted the

importance of dialogue and collaboration, especially

in light of the interdependent nature of the global oil


“Given the complexity of today’s energy market, no

one organization possesses all the solutions to the chal-

lenges which must be overcome to meet the demands of

the future,” he proclaimed. “Therefore, the importance of

forums like this, conducted in a collaborative spirit with

frank and open dialogue, is invaluable and indispensa-

ble for our industry.”

Emerging trends and technologies

The first session of the meeting focused on oil and energy

market developments, with an emphasis on emerging

trends and technologies.

Experts from the OPECSecretariat delivered presenta-

tions on the short-, medium- and long-term energy and

oil outlooks, including scenarios. These were followed

by presentations by the IEEJ, specifically focused on Asia

and one from the Economic Research Institute for ASEAN

and East Asia (ERIA) on ASEAN developments.

The second session examined developments in

road transport technology and fuels, particularly drivers

behind special technologies, prospects for their penetra-

tion and the impact of new technologies. A representa-

tive from Toyota stimulated an interesting discussion fol-

lowing his presentation on the future of the powertrain

landscape. This was complemented by a presentation by

AVL entitled: ‘Powertrain technology trends: electrifica-

tion — a new springtime for the combustion engine?’

During the third and final session, participants heard

about country-specific perspectives on energy and oil

demand with a focus on downstream prospects. This

included topics such as trends in product demand, qual-

ity adjustments, evolving crude oil trade patterns, invest-

ment plans and links to petrochemicals.

Discussions also encompassed an exchange of views

on the road transportation sector, in terms of demand

according to product, the fleet composition and pros-

pects of new passenger cars and commercial vehicles.

Consideration was also given to the oil demand outlook

in road transportation under targeted policies and pen-

etration by new technologies.

China’s National PetroleumCorporation’s Economics

and Technology Research Institute gave a presentation on

China’s energy and oil outlook. This was followed by an

account of the Indian perspective by India’s Petroleum

Planning and Analysis Cell. An overview of the situation

in the Republic of Korea was provided by Korea’s Energy

Economic Institute. The IEEJ then described Japan’s

energy and oil outlook.

The comprehensive presentations and thought-pro-

voking discussions that followed facilitated a fruitful and

productive exchange among participants. The signifi-

cance of pursuing such initiatives designed to promote

cooperation, through dialogue and technical exchange,

was reiterated.

The contributions of senior experts from across the

industry enhanced knowledge-sharing and informa-

tion-exchange. Therefore, the participants recommended

continuing this instrumental technical dialogue and close

interaction on a yearly basis and exploring the possibility

of expanding it.

Participants at the 3



Meeting on Asian Energy and Oil

Outlook pose for group photo.