OPEC+ to approve work plan for full implementation of Charter of Cooperation by 2027 - OPEC Secretary General

BAKU. July 15 (Interfax) - A work plan for the full implementation of the Charter of Cooperation (CoC) between OPEC and non-OPEC countries is scheduled to be approved in December 2026, OPEC Secretary General Haitham Al Ghais said.

"The main focus now is on preparing the Charter's work plan. This plan will include specific activity programs and a schedule of meetings. The document is expected to be approved by ministers in December this year, and the Charter is planned to be fully implemented starting from January 2027," Azerbaijani media quoted Al Ghais as saying at the Inaugural Technical Committee meeting of the OPEC+ Charter of Cooperation (CoC) in Baku.

He said the main purpose of the first meeting of the Technical Committee in Baku is precisely the preparation of this work plan. During the day, OPEC Secretariat staff will deliver presentations on the activation plan of the Charter, the draft work plan of the Technical Committee, activity programs, and meetings planned for the period after 2027.

Al Ghais said that at the 40th OPEC and non-OPEC Ministerial Meeting in November 2025, the OPEC Secretariat was tasked with preparing an action plan to implement the objectives of the Charter fully.

"After that, the Secretariat, together with the participating countries, prepared an action plan for the implementation of the CoC. Within this framework, the governance mechanism of the Charter and the five main areas of activity were defined. According to the plan, ministers are to meet at least once a year - online, in Vienna, or in other cities such as Baku - while the Technical Committee is to convene at least twice a year. The five main directions of the Charter cover dialogue with major oil consumers, technology, innovation and investment in the oil industry, policies and regulations affecting the sector, fundamental indicators of the oil market, as well as the preparation of industry standards on a consensus basis," he said.

He said that at the technical meeting held on May 21, 2026, the OPEC Secretariat and participating countries reached a common position on the activation plan of the Charter.