This week meet the oil and energiministre, as well as a number of other international toppfolk to The international energiforumet in Algeria.
the Conference is followed with argusøyne because the Opec countries are heavily represented, at the same time that Saudi Arabia has put a proposal on the table about a produksjonsfrys.
Saudi Arabia’s counterclaim is that Iran also freezes its output at a given level, even if the country is on the way out of the sanksjonsregimet that they have lived under for several years.
Wednesday, on the last day, meet the producers and see if you can agree on produskjonsfrys.
Oil and energy minister Tord Lien is among those invited to the conference. Even though Norway is not in the Opec stand, Norway because we both are in the OECD group, and is a great oljeeksportør.
no Matter what Opec countries had to agree on, have oljeministeren a clear message to the oil industry here at home:
- Opec stands for the Organization of oil-exporting countries (Organization of the Petroleum Exporting Countries).
- the Organization is considered a cartel, and has its headquarters in Vienna.
- Algeria, Angola, The united arab emirates, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia and Venezuela are members of Opec. Other important manufacturing country as Russia, the USA and Norway, are outside.
Source: NTB
We must continue our efforts to increase profitability and effektiviseringsarbeidet must continue. We can’t rely on others to intervene to raise the price, ” says Lien on the telephone with the E24 from Algeria.
– Had the Opec-agreed produksjonsfrys been entirely positive for the Uk?
– We need to recognise that the Opec have previously played an important role in order to recreate balance in the market, but we don’t come away from that the various countries have diverging approaches to the current situation, ” he says with reference to the fact that Opec countries are facing different situations now, and that they therefore wish to achieve different goals.
I know what we can do something with, and it is our own costs. We are the best when recovery comes in a few years if we have control on those, ” says Lien.
This is the possible skjærene in the sea when Opec meets in Algeria
Fear low investments provides price spikes
– Talking to people about something other than a possible Opec agreement?
– The then. What I notice myself is that many, also among konsumentlandene, is worried about what the strong investeringsfallet (in new oil production, journ.anm.) will create problems for them, ” says Lien, and points out the danger that the lack of new investments can yield losses and price spikes in a few years.
– at the same time, and the other producing countries recognize that the current downturn in oil prices will last longer than what we had assumed in 2014, adds Lien.
Although oil prices have fallen sharply from the peak level in 2014, it comes as a result of a fall in demand. On the contrary. During the entire period show figures from The international energy agency (IEA) and others that the demand increases year by year.
the Problem has been that production has been too high compared with what the market uses, and therefore is oljelagre the world over filled up to very high levels.
Tord Lien describes a pretty mixed mood among the participants, depending on whether the consumer states on, oljeeksportører with the money on the book or oljeeksportører with the financial difficulties now that oil prices have halved on a couple of years.
Cheap shale gas from the united STATES takes Europe
– There is a fairly wide consensus that it has established a prisbånd which is slightly higher than what we saw at its worst in January-February, says Tord Lien, with reference to today’s oil prices that have ranged between 40 and 50 dollars since april.
In January the price was down in the 27′s.
– But it goes differs between countries here. Some countries have kjempeformuer on the book thanks to the oil and thus have a financial freedom in these times, while others are struggling even more and is completely dependent on the higher income over time. It affects the mood. It is not everyone has 7.000 billion on the book, ” says Lien with reference to the Norwegian private oljefond.
MINISTERVELKOMST: Oil and energy minister Tord Lien was greeted at the airport by algeria’s energy minister Noureddine Boutarfa in connection with the energikonferansen IEF.
Speak up the gas
Tord Lien says he and other representatives of the Norwegian authorities often discuss the Norwegian companies utenlandsengasjement. He says that the other country’s representatives are also taking up their companies ‘ situation in the Uk at such meetings.
I speak Norwegian business case and the Norwegian case here. It hangs closely together, ” says Lien.
Lien believes The international energiforumet is a very important arena, because there are so many places that gather both rich and less rich countries, both from the group of oljeeksportører and importers.
Lien said he therefore follows closely to hear others ‘ perspectives on the market and their forecasts for the future.
Some of the Lien will take up is the gas market. In the agenda, it is pointed out, among other things, how gas prices also have fallen, partly because of the large capacity in the market, weaker demand than expected, and competition from other energy sources such as coal, especially in regions where one does not regulate or rates CO₂ emissions, and coal in any appreciable extent.
What really want to lift the gas is a high rate of CO₂. A high CO₂ price drives energy efficiency, renewable energy, and contributes to the fact that coal will be replaced with another gas, ” says Lien, and refers to the united Kingdom as an example.
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