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Iran’s governor for OPEC: Iran elected as permanent member of IEF' executive committee

Oil&Gas Materials 26 February 2011 12:34 (UTC +04:00)

Azerbaijan , Baku, Feb. 26 / Trend, A.Yusifzade /

Iran 's governor for OPEC Mohammad Ali Khatibi reported of signing a new charter for International Energy Forum (IEF), noting Islamic Republic of Iran was elected as a permanent member of the Forum's executive committee, Shana reported.

Khatibi said that 87 members out of 90 members of the IEF signed the new charter, which aims to adapt the forum function with contemporary developments in oil market, at an extraordinary meeting of the Forum in Riyadh on Feb. 22, 2011.

Referring to changing rules of election of the executive committee members of the Forum as one of its positive points, Khatibi remarked that under the new changes, the number of executive committee members have increased from 15 to 31 and Iran as the third biggest oil and gas producer of the world after Saudi Arabia and Russia became the new permanent member of the Forum's executive committee.

According to Khatibi, based on the new changes, the eleven largest oil and gas consumers and the eleven largest oil and gas producers of the world plus Saudi Arabia as the headquarters of the International Energy Forum's secretariat are permanent members of the executive committee and the other eight members are being elected on a rotating basis from within those countries which would act as a host and other members of the forum.

The charter is a political declaration aspiring to reinforce the cooperation in the IEF. The aim is to promote more stable markets and strengthen energy security for both producers and consumers. The development of principles and guidelines for transparent and sustainable energy markets, and the collection, analysis and distribution of information that is important for market actors, is a central part of IEF's work. The secretariats of IEA and OPEC are contributing in important ways to the effort of IEF here. The Charter also ensures that the forum of IEF is open for potential new member states.

Replying to a question about holding an informal meeting of the OPEC members on the sidelines of the IEF gathering, Iran's governor for OPEC denied holding any kind of informal or advisory session by OPEC members in Riyadh.

This Extraordinary IEF Ministerial Meeting was the final stage of a process that started with the landmark Cancun Ministerial Declaration approved by 66 countries at the 12th IEF Ministerial Meeting in March 2010.

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