India agreed to host the 9th roundtable after a virtual meeting between IEF Secretary General Joseph McMonigle and Oil Minister Dharmendra Pradhan, IEF said in a statement.
The chief executives of Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum Corp, as well as senior officials from the Ministry of Petroleum and Natural Gas, were also present at the meeting.
“Their discussions also covered the agenda of IEF activities, energy markets and the recovery of the global economy following the COVID-19 pandemic,” the statement said.
The two agreed to continue their institutional engagement on a regular basis and will consider a new proposal drafted by the IEF to strengthen bilateral cooperation.
“We welcome India’s decision to host the Asian Ministerial Round Table on Energy next year.
“This demonstrates the value of the IEF as a neutral platform to bring together the world’s energy powers and support dialogue to balance the interests of energy market participants and minimize the risk of economic shocks,” said McMonigle .
He added that India is expected to account for the largest share of the growth in energy demand of any country in the world over the next two decades. “So their decisions on energy and transition will be critical in determining the future of energy markets and climate change for everyone.”
Pradhan said India values the role of the IEF as a unique and neutral body of energy producers and consumers.
“We have had discussions on global oil markets and transition pathways, and I have expressed our concern about rising crude prices and its negative impact on the fragile global economic recovery and the need for stability in the world. price, ”he said.
The International Energy Forum (IEF) is the world’s largest energy organization with 71 member countries, representing 90 percent of the global energy market. It organizes an energy dialogue to promote energy security, market stability and transparency in the transition to a sustainable and inclusive future.