The 19th World Petroleum Congress opens here Sunday, days after the international oil prices exceeded 140 U.S. dollars per barrel.
The following are some basic facts about the congress:
Dubbed as the "Olympics of the oil and gas industry," the World Petroleum Congress is the largest gathering of the oil and gas industry globally.
It is held every three years by the World Petroleum Council (WPC), a leading global organization on oil and gas based in London.
The WPC, founded in 1933, is a non-political organization that provides a forum for discussing world issues facing the oil and gas industry.
The organization currently has 60 member countries, representing more than 90 percent of the world's major oil and gas producing and consuming nations. Each country has a national committee made up from representatives of the oil and gas industry, academia and research institutions, and government departments.
Every three years, the WPC grants the hosting of the World Petroleum Congress to one of the member countries.
The last congress was held in 2005 in Johannesburg, South Africa, focusing on the theme -- "Shaping the Energy Future: Partners in Sustainable Solutions."
It is the first time for the Spanish capital Madrid to play host to host the congress, with "A world in transition: delivering energy for sustainable growth" as the theme of this year's gathering.
Topics of the five-day congress include deliverability challenges, finding, accessing and reporting reserves, the industry's water usage, biofuels and motor fuel quality, securing European gas supply, geopolitics, the environmental footprint of the industry, social responsibility, societal expectations and the role of young people.
But with world oil prices soaring, the congress is widely expected to serve as a platform for global efforts to find a solution.
Some 4,000 delegates, including prominent executives from oil companies and policy makers, are expected to attend the congress.
Two exhibitions will run parallel with the 19th World Petroleum Congress, which will form one of the largest global oil and gas exhibitions ever held.
Source:Xinhua
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