importance of oil data transparency for hydrocarbon sector … · 2014-03-02 · j oint o...
TRANSCRIPT
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
9th Regional JODI Training Workshop 25-27 February 2014, BAKU , AZERBAIJAN
Importance of Oil Data Transparency For Hydrocarbon Sector
Fuad A. AlZayer Coordinator, Energy Data Transparency – JODI
International Energy Forum
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
The IEF: Quick OverView
The IEF: Quick
OverView
JODI: Importance of Energy Data
Transparanecy
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
IEF: Energy Dialague- 80+ Member Countries • IEF members represents about 85% of global oil & gas supply and demand
Consuming Countries
Producing Countries
Transit States
G20, BRICs CIS, etc.
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
The IEF Ministerial Meeting • The largest gathering of Energy Ministers on the planet • Next Meeting May 15-16 2014 Moscow
The IEF was created by Ministers, for Ministers
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
Industry Partners • The IEF’s Industry Advisory Committee values IEF independence & role as a
connector of key actors in the energy world
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
Neutrality & Global Energy Cooperation The IEF provides support to and cooperates with stakeholders at various levels
89 Energy Ministers CEOs G8 G20 IEA and OPEC JODI Partners Experts & Market Analysts Media
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
The IEF: What makes the IEF different?
• Neutrality • Inclusion: Global
Cooperation
• JODI
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
The Journey of JODI: How did it all start?
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
JODI Initiated by IEF Ministers -2000
JODI Set up by 6 Organizations
in Bangkok 2-3 April 2001
Riyadh 17-19 Nov. 2000
Political Technical
Calls by Heads of Statistics in Paris
Paris 13-14 Nov. 2000
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
How Did JODI start?
Ministers gave direction during the 7th IEF in Riyadh in 2000 JODI was set up by (APEC, EUROSTAT, IEA, OLADE, OPEC, & UNSD) in 2001 It became a Permanent Initiative in 2003 The IEF assumed the role of JODI Coordinator in 2005 JODI Oil World Database for (90+ Countries) was opened in 2005
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
JODI: Cooperation among seven IOs
“JODI is not a database -- JODI is a commitment”
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
Launch of the JODI
55 countries
Decision to make the exercise a permanent reporting mechanism
Focus on Data Quality Prepare a JODI World Database
Decision to make the database public
Extended JODI
questionnaire
19 November 2005 Launch of JODI Database by King Abdullah
International Energy Forum
JODI Conferences
Inter-Secretariat Working Group Meetings
Amst. May 04
Mexico May 02
Paris Dec 03
Bangkok Apr. 01
Riyadh Nov. 01
Luxem. Jan. 02
Mexico May 02
Vienna Apr. 02
Osaka Sep. 02
Quito Nov. 97
Madrid Jul. 00
Paris Nov. 00
Paris Nov. 99
Cairo Oct .03
Vienna Jan. 03
Paris Jul. 02
Paris Dec. 03
Vienna Jun. 04
Doha Apr. 06
Riyadh Jan. 05
Paris Jul. 05
Riyadh Nov. 00
Bali Oct. 04
Riyadh Nov. 06
Riyadh Nov. 05
Vienna May 01
Vienna Oct. 01
Vienna Apr. 05
Paris Nov. 05
Paris Jan. 06
NY May 06
Amst. May 04 Vienna
Sep. 06
Paris Feb. 07
Paris Nov. 07
Luxem. Jul. 08
Rome Apr. 08
Quito Jun. 09
Paris Oct .08
Vienna Mar .09
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
Why Does the World Need Energy Data
Transparency (JODI)?
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
0
20
40
60
80
100
120
140
Jan-
2000
Apr-
2000
Jul-2
000
Oct
-200
0Ja
n-20
01Ap
r-20
01Ju
l-200
1O
ct-2
001
Jan-
2002
Apr-
2002
Jul-2
002
Oct
-200
2Ja
n-20
03Ap
r-20
03Ju
l-200
3O
ct-2
003
Jan-
2004
Apr-
2004
Jul-2
004
Oct
-200
4Ja
n-20
05Ap
r-20
05Ju
l-200
5O
ct-2
005
Jan-
2006
Apr-
2006
Jul-2
006
Oct
-200
6Ja
n-20
07Ap
r-20
07Ju
l-200
7O
ct-2
007
Jan-
2008
Apr-
2008
Jul-2
008
Oct
-200
8Ja
n-20
09Ap
r-20
09Ju
l-200
9O
ct-2
009
Jan-
2010
Apr-
2010
Crude Oil Price ($/bbl)
To Address Oil Prices Volatility: Volatility Year 2000-2010
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
Stocks & prices are linked through an inverse relationship
0102030405060708090
100110120130140
2350 2400 2450 2500 2550 2600 2650 2700 2750 2800
OECD Commercial Stocks vs. WTI
1994-2003 2004-2007 2008 Jan09-Aug2011
(US
$/b)
(million barrels)
Importance of oil stocks to market transparency
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
Oil price variation impacts other energy prices as well
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
National level
Global level
- It Starts by Energy data collection at domestic level
Information Sharing
- Global Energy Data becomes Available - Better Assessment of World Energy Market
-Impact national Energy policies, energy pricing, etc.
- Improved Predictability of the Global Market - Better Environment for Investment
Global Market Stability
Information Sharing = Market Stability
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
What do Producers and Consumers need?
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
Both Producers and Consumers need Energy Security
Economic Growth
PRODUCERS CONSUMERS
Acceptable energy prices
Affordable energy prices
Security of
Supply
Security of Demand
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
Both producers and consumers will benefit from a more stable and transparent oil market
Market Data Transparency matters
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
JODI Benefits: Stable Energy Market
1. Facilitate improved short-term forecasts - (Sound analysis
of oil market requires accurate information )
2. Support sound decision making -(Markets hate uncertainty
and unknowns )
3. Encourage investments - (Better assessment of physical
market leads to better investment decisions)
4. Reduce market volatility & Ensure market stability
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
JODI High on the World Political Agenda
• 12th International Energy Forum
– March 2012, Kuwait – March 2010 , Cancun, Mexico
• G8 Actions on Energy & Climate Change – May 2012, Camp David, USA
• Meeting of Finance Ministers and Central Bank Governors
– April 2011, Washington DC
• The 4th Asian Ministerial Energy Roundtable – April 2011, Kuwait City
• G20 Meetings and Summits • Featured Regularly in International Media (Forbes, FT, Bloomberg,
etc.)
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
9th Regional JODI Training Workshop 25-27 February 2014, BAKU , AZERBAIJAN
JODI for a Stable Energy Market:
Everyone matters!!
JO
INT
OR
GA
NIS
ATIO
NS D
ATA
INIT
IATI
VE
A C
oncr
ete
Out
com
e of
the
Con
sum
er -
Pro
duce
r Dia
logu
e
For more information at www.jodidata.org
Thank you