OPEC’s Director of the Research Division Dr. Ayed Al-Qahtani to lead will discussions at AEW 2023

OPEC’s Director of the Research Division Dr. Ayed Al-Qahtani will lead discussions around the global oil outlook and the role African producers play in stabilizing the market during African Energy Week in Cape Town.

Africa’s vast crude oil reserves, estimated at 125.3 billion barrels, offer a significant opportunity for the continent to advance its socioeconomic development objectives while contributing to global energy security.

By fully developing and exploiting these abundant resources, African countries will be well positioned to make energy poverty history while bolstering industrialization efforts. With new oil discoveries being made continent-wide, licensing rounds set to open untapped acreage, and an aligned agenda to develop Africa on the back of oil, African crude is set to play a much larger role in global supply chains. In this scenario, organization’s such as Organization of the Petroleum Exporting Countries (OPEC) play a crucial role in assisting African producing nations to optimize their oil production and monetization endeavors.

OPEC has long-been an important partner for African oil producers, and the organization remains committed to supporting the growth and development of African resources.

During this year’s edition of the continent’s premier energy event, African Energy Week (AEW) – taking place in Cape Town from October 16-20 –, OPEC’s Director for the Research Division Dr. Ayed Al-Qahtani will lead discussions around the role African oil plays in global markets. Dr. Al-Qahtani joins OPEC Secretary General Haitham Al Ghais, who will deliver a keynote address.

While the energy transition has presented significant challenges for African oil producers, restricting capital and redirecting global interest towards renewable energies, OPEC has maintained its support for the industry, recognizing that Africa’s oil resources remain of crucial importance to the region.

The organization, through its Research Division, plays an instrumental role in helping African markets navigate the global energy market while supporting nations in adopting the latest industry standards.

OPEC provides energy, petroleum and market intelligence, enabling African producers to optimize industry growth while improving the quality and sustainability of petroleum products. Through its Data Services; Energy Studies; and Petroleum Studies Departments, OPEC’s Research Division provides guidance for the overall framework of the Secretariat’s strategy and policy.

On environmental matters, OPEC is a key facilitator of Africa’s transition to low-carbon and sustainable energy fuels. Through its Environmental Matters Department, OPEC’s Research Division ensures global oil practices align with global environmental standards, and therefore the group plays an important part in scaling up sustainability across the market.

The Research Division is responsible for undertaking studies on the environment, sustainable development and relevant policies and actions at various levels, while additionally monitoring intergovernmental processes on climate change. Serving as a bridge between oil producers and the organizations spearheading climate change mitigation efforts, OPEC facilitates dialogue, improves policy and ensures the highest standard of sustainable oil production worldwide.

For African producers, the data collected by OPEC’s Research Division is of uttermost importance, as it helps countries navigate the challenges and opportunities associated with global energy developments. The Division is responsible for monitoring, analyzing and forecasting developments in the short, medium and long-term. This information is vital for both existing and potential African producers, and during AEW 2023, Dr. Al-Qahtani will provide further insight into the global market.

“Through its Research Division, OPEC has provided continuous support for African oil producers. Data collected on global market trends, forecasts and challenges has helped African countries navigate the industry, and with a strong slate of countries set to join the list of African producers, these insights will prove even more valuable,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC).

At AEW 2023, Dr. Al-Qahtani will participate in high-level panel discussions centered on Africa’s oil outlook as well as how countries can advance sustainability across the industry. The event serves as a crucial platform for upcoming African producers to engage with the OPEC Director, while current member countries strengthen cooperation and collaboration.

AEW is the AEC’s interactive exhibition and networking event uniting African energy stakeholders, driving industry growth and development, and promoting Africa as the destination for African-focused events. For more information about sponsorship, attendance, and partnership opportunities, visit www.aecweek.com.