OPEC Secretary General’s Visit to IEA Underscores Shared Commitment to Dialogue

(Paris) — 25 March 2008

The International Energy Agency (IEA) and the Organization of Petroleum Exporting Countries (OPEC) are strongly committed to their active dialogue on energy issues. This emerged from a meeting between IEA Executive Director Nobuo Tanaka and OPEC Secretary-General HE Abdalla Salem El-Badri today in Paris.

“I am delighted to receive Secretary-General El-Badri to the IEA,” said Mr. Tanaka. “Oil-producing and consuming countries have many common interests and concerns. It is very useful to have the opportunity to exchange views.” Mr. El-Badri added, “OPEC also welcomes this opportunity to share ideas and discuss various aspects of the energy scene with the IEA. In particular, such dialogue enables both the IEA and OPEC to gain an even broader understanding of the oil market from the consumer’s and the producer’s perspectives.” Both emphasised their will to continue strengthening co-operation between the two organizations as an important element in improving the understanding of the issues of both parties.

Secretary-General El-Badri met with Executive Director Tanaka, IEA staff, as well as ambassadors and delegates from IEA member countries. Topics of discussion included oil market developments; the impact of financial markets; outlook and investment; energy efficiency; continued co-operation within the Joint Oil Data Initiative (JODI); preparations for the International Energy Forum Ministerial meeting on 20-22 April in Rome, in which both Mr. El-Badri and Mr. Tanaka will participate; and OPEC participation in the IEA energy technology collaboration network, including carbon capture and storage.

The meeting followed Mr. Tanaka’s visit — soon after assuming his responsibilities as IEA Executive Director — to Secretary-General El-Badri at OPEC’s Vienna headquarters in September 2007.

The IEA and OPEC share a common interest of supporting oil market stability and predictability and have already organised a series of workshops on various energy issues.

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