Iran Press/ Europe: Oil and energy ministers of Iran, Saudi Arabia, the United Arab Emirates, Iraq, Equatorial Guinea, and some other countries attended the unofficial meeting on the sidelines of the 8th OPEC International Seminar in the Austrian capital.
The participating ministers exchanged views on the market conditions. They called for a consensus on making decisions and implementing policies, arguing that such an approach benefits producers and consumers.
The two-day seminar is taking place at the Hofburg Palace, bringing together representatives from top oil-exporting countries and chief executives from global energy majors. This year's central event theme is "Towards a Sustainable and Inclusive Energy Transition."
First-day discussions broadly covered the stability of energy markets and problems with their financing.
OPEC market share expected to rise to 40% by 2040-2045: SG
Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais said the organization's market share is expected to rise to 40% by 2040-2045, Al Arabiya TV reported on Thursday.
He added, "This will happen after production decreases from countries outside OPEC+ or outside OPEC. The U.S. production is expected to decrease by 2029-2030, as well as other countries," Reuters reported.
Al Ghais is in Vienna, the capital of Austria, where the 8th OPEC International Seminar is underway.
The two-day seminar started at the Hofburg Palace on Wednesday, bringing together representatives from top oil-exporting countries and chief executives from global energy majors. This year's central theme of the event is "Towards a Sustainable and Inclusive Energy Transition."
Iran's oil min meets with his Iraqi counterpart
Iranian Oil Minister Javad Owji and his Iraqi counterpart Hayan Abdulghadiscussed on implementing joint projects in Vienna on Thursday.
The meeting occurred on the sidelines of the 8th OPEC International Semi. Top officials emphasized the need for expanding oil cooperation, exchanging oil and gas products, joint investments, developing collective oil fields, and exporting Iran's technical and engineering services to Iraq.
The 8th OPEC International Seminar commenced in Vienna on Wednesday. The two-day "Towards a Sustainable and Inclusive Energy Transition" seminar was hosted at the Hofburg Palace. It brought together representatives from leading oil-exporting countries and chief executives from global energy majors.
On the first day of discussions, participants primarily focused on ensuring stability in energy markets and addressing challenges related to financing.
Iran, Egypt oil ministers meet
Javad Owji and Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla held talks in the Austrian capital on Thursday.
In a meeting on the sidelines of the 8th OPEC International Seminar, the two ministers exchanged views on the energy market, trade, and bilateral cooperation in energy, oil, and petrochemical sectors.
Export of technical and engineering services, particularly gas technology and the know-how to manufacture bi-fuel vehicles, was the other subject Owji and his Egyptian counterpart discussed.
The meeting was held as Iran and Egypt are rebuilding their diplomatic relations after decades-long severance, and the political rapprochement is paving the way for Tehran-Cairo cooperation in the oil and gas sectors.
At Wednesday's second ministerial session of the two-day seminar entitled "Investments, finance and inclusive petroleum growth strategies" on Wednesday, Owji said Iran is ready to attract investors in upstream, downstream, and associated petroleum gas (APG) collection projects.
The terms and conditions of Iran's new oil contracts are aimed at attracting investors, said the minister, and continued the latest deals are "appealing" to investors, and a number of such agreements on the development of oil and gas fields and construction of refinery-integrated petrochemical plants have been inked during the recent years.
Based on new oil contracts, investors use revenues earned by selling products of hydrocarbon fields; he added, "Some countries, including Russia, and even oil companies of neighboring states have welcomed such contracts."
He said that new oil contracts have been drawn up to give a return on investment (ROI) in the shortest time possible, and continued foreign investors would make handsome profits when they develop oil and gas fields.
Iran, UAE to promote oil cooperation
Iranian Oil Minister and United Arab Emirates' Minister of Energy Suhail Al Mazrouei here on Wednesday emphasized promoting bilateral oil cooperation.
Meeting on the sidelines of the 8th OPEC International seminar in the Austrian capital, the two ministers discussed the trade of crude oil, natural gas, and oil and petrochemical products.
Joint investment, development of joint fields, expansion of cooperation in oil and gas sectors, and the global oil markets' status quo were the other topics of their negotiation.
The 8th OPEC International Seminar started in Vienna on Wednesday.
The two-day seminar is taking place at the Hofburg Palace, bringing together representatives from top oil-exporting countries as well as chief executives from global energy majors. This year's central theme of the event is "Towards a Sustainable and Inclusive Energy Transition."
First-day discussions broadly covered the stability of energy markets and problems with their financing.
Iranian, Saudi ministers hold energy talks
On Wednesday, Iran's Oil Minister Javad Owji and Saudi Minister of Energy Abdulaziz bin Salman held energy talks on the sidelines of the 8th OPEC International Seminar.
The two ministers discussed the global oil markets' status quo and future and decisions needed for setting oil prices.
Owji and bin Salman also exchanged views on investment in the oil and gas industry, joint ventures, hydrocarbon trade, and the development of joint fields.
The 8th OPEC International Seminar started in Vienna, the capital of Austria, on Wednesday.
The two-day seminar takes place at the Hofburg Palace, bringing together representatives from top oil-exporting countries as well as chief executives from global energy majors. This year's main event theme is "Towards a Sustainable and Inclusive Energy Transition."
First-day discussions essentially covered the stability of energy markets and problems with their financing.
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