Baku: The inaugural Charter of Cooperation (CoC) Technical Committee Meeting was held in Baku on Wednesday. The meeting was hosted by Azerbaijan's Minister of Energy Parviz Shahbazov and chaired by Haitham Al Ghais, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC).

According to Azerbaijan State News Agency, the meeting brought together delegates from 20 oil-producing countries and established a comprehensive work plan for the CoC. This plan covers activities and programs related to market fundamentals, energy dialogue, technology, innovation, investment, policies and regulations, as well as industry standards. The meeting built on the outcomes of the 40th OPEC and non-OPEC Ministerial Meeting held in November 2025, approving the CoC framework and tasking the OPEC Secretariat with developing a work plan.

Addressing the meeting, OPEC Secretary General Haitham Al Ghais highlighted the commitment of participating countries to unlocking the full potential of the CoC. He stressed the importance of realizing the objectives of the CoC, such as facilitating dialogue with major oil consumers and promoting oil market stability.

In his concluding remarks, Al Ghais thanked all delegates for their contributions and expressed gratitude to Azerbaijan for hosting the meeting. Azerbaijan's Minister of Energy Parviz Shahbazov emphasized the significance of holding the inaugural meeting in Baku, recognizing Azerbaijan's role in global energy cooperation and its reputation within the OPEC+ framework.

Shahbazov expressed confidence that the meeting will strengthen dialogue and trust within OPEC+, preserve stability in the global oil market, and advance long-term cooperation among participating countries. He underscored the importance of dialogue platforms in light of strong global oil demand and declining investment in oil exploration and production.

The Charter of Cooperation was signed on July 2, 2019, by OPEC Member Countries and non-OPEC participants in the Declaration of Cooperation (DoC). This ushered in a new era of cooperation, complementing the momentum of the DoC. All participants in the DoC, along with Brazil, which joined in February 2025, are members of the CoC.