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World Energy Congress Begins in Istanbul - ASHARQ AL-AWSAT English Archive
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Ankara – The 23rd World Energy Congress opened on Sunday at Lutfi Kirdar International Convention and Exhibition Center with representatives of 130 countries taking part, members of Organization of the Petroleum Exporting Countries (OPEC) and Russian President Vladimir Putin.

Ministers of Energy from Saudi Arabia, Iran and Russia are expected to hold informal talks about oil production on the sidelines of the congress.

Earlier, OPEC has agreed to curb oil output and is looking to secure cooperation of non-OPEC members like Russia to help support oil prices.

The event, themed “Embracing New Frontiers,” lasts until 13 October. It gathered 10,000 participants, including four presidents, 250 energy ministers, academia, policy-makers and CEOs of top energy companies.

Russian Energy Minister Alexander Novak said that he planned to meet OPEC Secretary General Mohammed Barkindo in Istanbul.

Novak added that he plans to discuss OPEC’s output deal with ministers of other oil-producing countries.

Other energy ministers who will be present in the Turkish city as it hosts the World Energy Congress include those of the United Arab Emirates, Algeria, Venezuela and Qatar, which holds the OPEC presidency.

Sources do not expect a decision to be taken in Istanbul, but the meeting will be a chance for the officials to discuss the next step after last week’s Algiers meeting.

On September 28, OPEC reached an agreement in Algiers to reduce crude oil production which is expected to be implemented this year. OPEC ministers will meet next in Vienna on Nov. 30 to set the group’s supply policy.

The World Energy Conference convenes once every three years. The first gathering, organized in 1924, was formerly known as the World Power Conference.