The recent international context has been marked by a strong increase in oil prices. So far, turmoil in energy markets has revealed how especially vulnerable oil-dependent economies have become to disruptions in supply or changes in price. Should it continue to prevail, this vulnerability would pose grave dangers for the precarious balance the global economy is based on.

Never before has the oil industry faced such difficult challenges. Today, there is a pressing need to promote real dialogue between producers and consumers and deepen ties between key players on the energy scene. Growing demand, uncertainties on oil reserves, investment in refining capacity, environmental concerns, are among the problems that need to be tackled now.

The 7th International Oil Summit Conference will be held April 7, 2006, and will gather ministers, policy makers, CEOs and experts, in an attempt to foster discussions about the current energy context and possible solutions to the crisis. Different issues will be addressed, including: