The first-ever virtual Energy Business Council (EBC) meeting was organised as a video conference on 19 March 2012. It included the participation of executives from 35 companies from 19 countries spanning four continents.
The meeting opened with remarks by Dr. Fatih Birol, IEA Chief Economist, who explained the main objectives of the event: providing EBC members with IEA view on recent developments on global energy markets and collecting feedback and comments from the private sector on key topics of the forthcoming World Energy Outlook 2012 (WEO 2012). Mr. David Fyfe, Head of Oil Industry and Market Division at the IEA, presented an update on global oil markets. Discussions that followed, chaired by Dr. Fatih Birol, focused on special issues of the WEO 2012 including: the development of unconventional sources of gas, Iraq’s energy prospects and its implications for global energy markets, energy efficiency and climate change.