The International Energy Forum (IEF) has decided to convene a Ministerial level meeting by March 2011 in Riyadh to draft and approve an IEF Charter that will strengthen the organization through guiding principles and financial support structures. This was decided at the 12th International Energy Forum held recently in Cancun, Mexico, according to a latest report carried by Saudi Aramco's Web-site. At the close of the two-day conference, the IEF issued a ministerial declaration - agreed upon by 66 member countries - that confirms the political and financial commitment of IEF countries to an enhanced energy dialogue, and also outlines the path for a stronger institution. Recommendations to reduce excess volatility in oil prices, improve the reliability of energy supply and demand data, and further strengthen the dialogue between energy producers and consumers were addressed in a presentation during the 4th International Energy Business Forum (IEBF), which was held in conjunction with the IEF conference in Cancun by Khalid A. Al-Falih, Saudi Aramco's President and Chief Executive Officer. IEF was attended by energy-industry leaders representing 66 countries and 36 companies, encompassing about 90 percent of the world's energy supply and demand. It included energy producers and consumers, thereby supporting collaboration on challenges. --MORE
