The Egyptian Ministry of Petroleum and Mineral Resources inaugurated the 14th International JODI (Joint Organizations Data Initiative) Conference (IJC 14) in Cairo, which will be from October 20 to 21, 2019, Al Ahram Gate reported.

The inauguration was attended by Sun Xiansheng, Secretary General of the International Energy Forum (IEF), in addition to international organizations’ representatives including: the Organization of the Petroleum Exporting Countries (OPEC), the Organization of the Arab Petroleum Exporting Countries (OAPEC), Gas Exporting Countries Forum (GECF), International Energy Agency (IEA), Statistical Office of the European Committee (EUROSTAT), the statistical division of the United Nations (UN), Latin American Energy Organization, African Energy Commission, Asia-Pacific Economic Cooperation (APEC), as well as a number of the petroleum sector leaders.

The Ministry of Petroleum stated that this conference is considered one of the most important international forums, where energy specialists collaborate to support and enhance the transparency of energy data.

The Ministry of Petroleum asserted that Egypt supports this initiative, which was launched in 2000, as it hosted the fourth edition of the JODI Conference in 2003. The initiative was launched in response to the fluctuations in oil prices at the time, which had a negative impact on global economics due to the lack of reliable statistics and data.

The Egyptian ministry appreciates the JODI initiative and its effective role in ensuring the security and sustainability of energy supplies through the cooperation between both the producing and the consuming countries by facilitating data exchange in the oil and gas industry.

The quote “Data is the newest petroleum wealth” reflects the importance of data for institutions and individuals and its role in transforming and enhancing commercial operations and customer experience, as the petroleum industry depends on it in decision-making, the ministry highlighted.

The conference’s agenda included discussing many topics in the framework of working to raise the efficiency and transparency of the initiative, its improvement opportunities, in addition to tackling the initiative’s strategies for enhanced visibility of energy data transparency and its benefits.