03-04-2014

21st World Petroleum Congress brings global industry leaders together in Moscow

The recent meeting of the Organising Committee of the 21st World Petroleum Congress, was headed by the Deputy Prime Minister of the Russian Federation Arkady Dvorkovich. He confirmed that the Congress will be held in Moscow as planned from the 15th to 19th June 2014. It will be the biggest international event in the global oil and gas industry. Top Congress speakers have already confirmed their participation, including HE Ali Al Naimi, the Minister of Energy and Natural Resources of Saudi Arabia, Rex Tillerson, Chairman of the Board of Directors at Exxon Mobil Corporation, HE Abdalla Salem El-Badri, the OPEC Secretary General, Robert Dudley, Chairman of the Board, "BP", Maria van der Hoeven, the Executive Director of the IEA, Dr. Daniel Yergin, Vice Chairman, IHS and Pullitzer Prize Winner for “The Prize” and over 500 other industry leaders and decision makers.

The recent geopolitical situation in Ukraine, including sanctions and other macroeconomic and political factors, could have a strong impact on the world’s oil and gas markets. Although they do not adversely affect the Congress itself under the current scenarios, important discussions on the development of the entire energy sector and wide-ranging industry announcements are expected to take place at the Congress.

According to the Federal Customs Service, Russia has exported 207 million tons of oil and 141 million tons of petroleum products outside the CIS in 2013. The main direction of Russian oil exports is Europe. In 2013, Europe imported approximately 10 million barrels of oil per day, 3.5 million of which came from Russia. Generally speaking, the total consumption of Russian oil and petroleum products in the EU is about 40 %.

It is expected that the 21st World Petroleum Congress will be attended by more than 5000 delegates from 100 countries. The World Petroleum Exhibition, the biggest and most prestigious showcase for the industry, is held alongside the Congress on ​​55,000 sq.m. at Crocus Expo and will gather more than 500 exhibiting companies under one roof.