Baku: The current focus is on preparing the work plan for the OPEC+ Charter of Cooperation, OPEC Secretary General Haitham Al Ghais stated during the first meeting of the Technical Committee of the OPEC+ Charter of Cooperation (CoC) held in Baku.

According to Azeri-Press News Agency, the plan will include a detailed list of activities and programs, as well as a schedule for holding meetings. Haitham Al Ghais noted that this second phase is expected to be completed and approved by ministers in December this year.

He highlighted that during the technical meeting held on May 21, 2026, close coordination was ensured between the OPEC Secretariat and the participating countries of the Charter of Cooperation on the key elements of the Charter's activation plan. Subsequently, at the 41st OPEC and non-OPEC Ministerial Meeting on June 7, the ministers of the participating countries approved the proposed action plan to achieve the objectives of the Charter.

Haitham Al Ghais mentioned that the heads of delegations and ministers also committed to consulting with their respective countries to nominate the members of the Technical Committee, which will oversee the implementation of the plan. The meetings held in May and June facilitated the successful completion of the first of the two key phases - the establishment of the institutional framework of the Charter of Cooperation.

He emphasized that the successful completion of both phases is essential to ensure that the Charter of Cooperation becomes fully operational as planned from January 2027. The main task of this meeting is to prepare the work plan for the Charter of Cooperation and thereby ensure the successful completion of the second key phase.