Global Energy Leaders Advance Cooperation, Transition at 9th OPEC Seminar in Vienna

The 9th OPEC International Seminar in Vienna gathered global energy leaders to discuss the future of energy, focusing on energy transition, market stability, and cooperation. India’s Minister of Petroleum, Hardeep Singh Puri, held key bilateral talks with energy officials from Kuwait and Nigeria, emphasizing deepening partnerships and leveraging advanced technologies to boost India's energy security and expand natural gas usage. OPEC ministers, including Saudi Arabia's Energy Minister Abdulaziz bin Salman, advocated for a balanced approach that supports continued hydrocarbon investments alongside renewables to avoid supply shortages, a stance echoed by OPEC Secretary-General Haitham al-Ghais. The African Energy Chamber called for reversing global bans on fossil fuel financing to support Africa's development, highlighting the inequity of policies that restrict African upstream investments while allowing exceptions in Europe. Azerbaijan’s SOCAR president stressed the importance of aligning energy transition goals with countries’ economic realities and emphasized Azerbaijan’s role in both traditional and renewable energy sectors. The seminar also marked OPEC’s 65th anniversary and featured the launch of the World Oil Outlook, emphasizing the need for innovation, investment, and cooperative efforts to secure sustainable energy supplies worldwide.