Officials from more than 20 oil-producing countries have agreed on a roadmap to strengthen international cooperation in the oil industry during a meeting in Azerbaijan. The plan aims to deepen collaboration across key areas, including markets, technology, investment and regulation.
Delegates from OPEC members and other oil-producing nations established a work plan for the Charter of Cooperation (CoC), a platform adopted by many oil-producing countries in 2019 to advance their shared interests.
The blueprint covers market fundamentals, energy dialogue, technology, innovation, investment, policy and regulation, as well as industrial standards.
OPEC Secretary General Haitham Al Ghais, who chaired Wednesday's meeting in Baku, said the participating countries had reaffirmed their commitment to strengthening cooperation.
“The participating countries’ commitment to further unlocking the full potential of the CoC has once again been clearly evident today," he said.
The meeting built on the outcomes of the 40th OPEC and non-OPEC Ministerial Meeting, held in November 2025, which approved the CoC framework and tasked the OPEC Secretary General with developing a work plan and translating it into programmes to achieve the charter's objectives.
The next Technical Committee meeting is scheduled to take place at the end of September.
Azerbaijan's Energy Minister Parviz Shahbazov, who also chaired the event, said hosting the meeting reaffirmed Baku's role in helping to maintain stability in international oil markets.
“Holding the inaugural meeting of the Technical Committee of the Charter of Cooperation in Baku - the cradle of the modern oil industry - is a clear recognition of Azerbaijan’s role in global energy cooperation, as well as the trust and reputation it has earned as a reliable and responsible partner within the OPEC+ framework.
“We are confident that this meeting will make a meaningful contribution to further strengthening dialogue and mutual trust within OPEC+, preserving stability and predictability in the global oil market, and advancing long-term cooperation among participating countries.”
Top Arab and Muslim foreign ministers agreed at a meeting in Amman on Wednesday to establish a mechanism to document alleged Israeli violations in Jer...
Pakistan has stepped up flood preparedness after the World Meteorological Organization (WMO) warned that El Niño is expected to strengthen from Augus...
U.S. President Donald Trump said there was an "all-day negotiation" on Tuesday with Iran, characterising the talks positively while also threatening t...
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 5th of August, covering the latest developments.
U.S. President Donald Trump said there was an "all-day negotiation" on Tuesday with Iran, characterising the talks positively while also threatening to hit Iran "really hard" if a deal was not reached.
Tehran had made plans to strike sites in Ukraine after Kyiv attacked an Iranian cargo ship in the Caspian Sea, a senior Iranian military adviser has said. Iran refrained from taking action after Kyiv said the strike was a mistake, Mohsen Rezaei told the state IRIB TV channel.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 4th of August, covering the latest developments.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
Top Arab and Muslim foreign ministers agreed at a meeting in Amman on Wednesday to establish a mechanism to document alleged Israeli violations in Jerusalem, urging coordinated international action to protect the city's religious sites.
Pakistan has stepped up flood preparedness after the World Meteorological Organization (WMO) warned that El Niño is expected to strengthen from August, increasing the risk of more extreme weather worldwide as monsoon rains continue across the country.
Afghanistan has launched a five-year national health strategy to strengthen healthcare services as the country faces severe funding shortages, rising humanitarian needs and mounting pressure on its health system.
At least 14 people have been killed and several others injured after lightning struck across the eastern Indian state of Jharkhand, highlighting the dangers of the country's annual monsoon season.
Tehran and Yerevan are drawing up plans to turn Armenia into a transit corridor for Iranian gas, alongside a four-country power grid, a second border bridge, an oil refinery and a new hydroelectric scheme.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment