“The world cannot and will not be able to live without oil,” says OPEC


The current president of OPEC (Organization of Petroleum Exporting Countries), the Equatorial Guinean Antonio Oburu Ondo, affirmed, this Wednesday, July 5 in Vienna (Austria), that “the world cannot live without oil” and nor will it be able to do without that fossil source in the foreseeable future, given the energy needs of the planet.

(See: They ask for a clear roadmap for the energy transition).

The reality of energy is that the world cannot live without oil“, said Oburu Ondo, Minister of Mines and Hydrocarbons of Equatorial Guinea, one of the 13 OPEC partners.

Ondo said that oil has been “central” in the past, is “crucial” for the present and will be “fundamental” for the future of society.

It is a permanent consumer good. We can’t do without it“, he insisted.

The minister gave the opening speech at the eighth OPEC International Seminar, a two-day conference that brings together dozens of managers of the industry of fossil sources and experts in climate change.

(See: Negotiation or auction? Dilemma facing the subsidiary of the oil company PDVSA).

Under the motto ‘Towards a sustainable and inclusive energy transition’, the forum was opened by the Secretary General of OPEC, the Kuwaiti Haitham Al Ghais, who also highlighted the importance of crude oil At the same time, he advocated promoting technologies that reduce their greenhouse gas emissions.

Oil plays a central and fundamental role in life, but the industry (of the sector) must minimize its environmental impact“, he declared.

Al Ghais advocated that the energy transition is based on “the three pillars of sustainability: economic viability, environmental protection and social equity“, and considered that each country and region must find its own way to reduce emissions.”There is no single path to the climate challenge“, he sentenced.


Courtesy Ecopetrol

The positions expressed by those responsible for Opec are not new and coincide with those of other defenders of the oil industry, of which highly depend on the income of the countries of the organization.

(See: The Nation expects $6 billion less due to the price of crude oil).

It worries them especially the growing difficulties they encounter to attract capital flow to their industries, something that is already diminishing the productive capacity of several of them, while investments in renewable energies are growing.

We must pay close attention to the decrease in investment in the sector“Azerbaijani Energy Minister Parviz Shahbazov stressed at the forum.

The OPEC seminar is held amid the controversial decision of that organization to exclude journalists from international media Reuters, Bloomberg and Wall Street Journal (WSJ).

(See: Petro reaffirms its position against the consumption of hydrocarbons).

Several Austrian and international press associations protested against what they call an arbitrary decision against freedom of information.

Opec itself, which has not given explanations about the exclusions or the reasons why it does allow access to other media, ensures that it is a new communication strategy without revealing details about it.


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Written by Editor TLN

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