Latest news with #OPECInternationalSeminar
Saudi Gazette
5 days ago
- Business
- Saudi Gazette
Saudi energy minister urges global action on energy poverty at OPEC forum
Saudi Gazette report RIYADH — Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, emphasized the urgent need to tackle global energy poverty during his address at the OPEC International Seminar in Vienna on Monday. Highlighting one of the most pressing global energy challenges, the minister cited United Nations estimates that 1.2 billion people suffer from energy poverty — a figure he believes could be nearly three times higher in reality. He noted that over two billion people still rely on traditional, unsafe cooking fuels, which contribute to pollution and health hazards. Prince Abdulaziz revealed that a dedicated Saudi team is actively working across Africa and Southeast Asia to address energy poverty, engaging directly with governments to implement practical solutions. He cautioned that the global energy transition should not come at the expense of economic development, urging that each country's economic context be considered in crafting energy strategies. He further stressed the need for a balanced global energy mix, where oil and gas remain essential components alongside the expansion of renewable energy sources. With global population projections reaching nearly 10 billion by 2050 and energy demand expected to rise by 50%, he said a diverse approach is crucial to ensuring sustainable energy access. The minister underscored the Kingdom's consistent energy policies and its commitment to translating them into real-world cautioned that the global energy transition should not come at the expense of economic development, urging that each country's economic context be considered in crafting energy further stressed the need for a balanced global energy mix, where oil and gas remain essential components alongside the expansion of renewable energy global population projections reaching nearly 10 billion by 2050 and energy demand expected to rise by 50%, he said a diverse approach is crucial to ensuring sustainable energy access.
Time of India
11-07-2025
- Business
- Time of India
India Averted $130 Oil Crisis by Buying Russian Crude, Says Minister Hardeep Singh Puri
Union Petroleum Minister Hardeep Singh Puri has come out swinging in defence of India's continued import of Russian crude oil, stating that India played a key role in stabilising global oil prices during the Ukraine war. Speaking at the OPEC International Seminar in Vienna, Puri said a sudden halt of Russian oil, which makes up 10% of global supply, would've caused chaos, pushing oil prices to $120–130 per barrel. He clarified that Russian oil wasn't under sanctions, but subject to a Western price cap, and India's decision to buy within that cap helped maintain market stability. Critics, he said, don't understand energy market dynamics. India, under PM Modi, has helped balance availability, affordability, and sustainability.#india #russia #russianoil #oilprices #opec #hardeepsinghpuri #energypolicy #crudeoil #modigovernment #ukrainewar #globalenergy #lpg #petroleumminister #energysecurity #discountedoil #geopolitics #oilimport #indianeconomy #energymarket #indiaoilstrategy #modinomics #toi #toibharat #bharat #trending #breakingnews #indianews Read More
CNBC
10-07-2025
- Business
- CNBC
Geopolitical volatility 'a challenge' for OPEC+, says Platts
Herman Wang, Chief Editor, EMEA & APAC Oil News at Platts joins CNBC's Dan Murphy at the OPEC International Seminar in Vienna to discuss recent production hikes within the alliance, and the outlook for prices.
CNBC
10-07-2025
- Business
- CNBC
Saudi Arabia and OPEC+ "playing the long game": Sen
Energy Aspects' Founder and Director of Research, Amrita Sen joins CNBC's Dan Murphy at the OPEC International Seminar in Vienna to discuss the outlook for crude prices, and the path ahead for the oil producing alliance.
The Star
09-07-2025
- Business
- The Star
OPEC seminar focuses on energy transition, calls for stronger global cooperation
VIENNA, July 9 (Xinhua) -- The 9th OPEC International Seminar opened here on Wednesday, bringing together global energy leaders to discuss key issues including energy transitions, market stability, energy security, investment, technology, and innovation. Under the theme "Charting Pathways Together: The Future of Global Energy," the two-day event features exhibitions, ministerial sessions, and high-level roundtables aimed at exploring energy security and cooperation across the energy sector. OPEC Secretary General Haitham Al Ghais said at the opening ceremony that 2025 holds special significance for OPEC, marking its 65th anniversary and the 60th anniversary of its Vienna headquarters. How to reduce carbon emissions while achieving energy security, improving energy accessibility and reducing global energy poverty is a key topic of the seminar, he added. Meanwhile, Saudi Energy Minister Abdulaziz bin Salman Al Saud highlighted that energy transition is not a threat, but an opportunity to drive innovation, investment and economic development. In a video address, Mohsen Paknejad, president of the OPEC Conference for 2025, urged countries to commit to peace and cooperation to ensure secure and sustainable energy supplies. During the seminar, the organization will launch the 19th edition of the World Oil Outlook, one of its flagship publications that provides in-depth review and analysis of the global oil and energy industries and offers assessments of various scenarios in the medium- and long-term development. The first OPEC International Seminar was held in 2001. As one of the most influential platforms for dialogue and cooperation in the energy sector, this year's seminar attracted numerous ministers from OPEC member countries, representatives from major energy-producing and consuming nations, heads of international organizations, executives from energy companies and financial institutions, as well as experts and scholars.
