The annual CERAWeek energy conference by IHS Markit opens on Monday in Houston, Texas to discuss "new world of rivalries" in the energy sector due to geopolitical and trade wars, price volatility, and environmental concerns with over 4,500 delegates from more than 70 countries, including 35 ministers, as well as US State Secretary Mike Pompeo
HOUSTON (Pakistan Point News / Sputnik - 11th March, 2019) The annual CERAWeek energy conference by IHS Markit opens on Monday in Houston, Texas to discuss "new world of rivalries" in the energy sector due to geopolitical and trade wars, price volatility, and environmental concerns with over 4,500 delegates from more than 70 countries, including 35 ministers, as well as US State Secretary Mike Pompeo.
The first day of the conference will see International Energy Agency (IEA) Executive Director Fatih Birol and Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Barkindo discussing the future of the global oil market amid geopolitical tensions in the middle East and roles of Russia and the United States in these crises.
Meanwhile, US Energy Secretary Rick Perry will hold on Monday a number of bilateral meetings on the sidelines of CERAWeek with Israeli Energy Minister Yuval Steinitz, Egypt's Petroleum Minister Tarek El-Molla, Polish Minister for Strategic Energy Infrastructure Piotr Naimski, and Brazilian Minister of Mines and Energy Bento Albuqurque.
On Tuesday, the main day of the conference, Pompeo will deliver keynote remarks at CERA Energy Week on the energy revolution in the United States that allowed the country to become the biggest oil producer in the world at the moment.
A special session will be dedicated to Venezuela and its ongoing crisis, which not only causes oil production to continuously decline, but also resulted in the major energy blackout across the whole country. Despite tensions with the United States, Venezuela is set to be represented at the session by Venezuelan Ambassador to the United States Carlos Vecchio.
Although 35 ministers are expected to attend, Russia will not be represented this year at CERAWeek on a governmental level. Instead, Lukoil President Vagit Alekperov and Gazprom Neft's First Deputy CEO Vadim Yakovlev will attend the five-day event.
In addition, OPEC and US shale producers will hold a traditional annual meeting on the sidelines of the conference to discuss cooperation in the global oil market and exchange of data to help stabilize oil prices. According to Equatorial Guinea's Energy Minister Gabriel Mbaga Obiang Lima, the two parties are not expected to discuss NOPEC, No Oil Producing and Exporting Cartels Act, which seeks to target OPEC and its members through lawsuits under US antitrust law over coordinating production and thus influencing oil prices.
