If the JODI World Database is the visible part of the Joint Oil Data Initiative, JODI is much more than collecting and releasing monthly oil statistics. JODI has played an important role in raising political awareness of the difficulties encountered in improving data reliability and timeliness.

The Joint Oil Data Initiative (JODI) is a concrete outcome of the producer-consumer dialogue. Co-ordination of this unique inter-organizational transparency initiative is a flagship IEF Secretariat activity. With the active participation and full support of the six pioneer organizations; the Asia Pacific Economic Co-operation (APEC), the Statistical Office of the European Communities (Eurostat), the International Energy Agency (IEA), the Latin-American Energy Organization (OLADE), the Organization of Petroleum Exporting Countries (OPEC) and the United Nations (through the UN Statistics Division).

In 2001, those six pioneer organizations joined hands to set up the Joint Oil Data Exercise following the call by Ministers at the 7th IEF in 2000 in Riyadh to do something about the lack of data transparency seen to cause excessive oil price fluctuations. They established the Joint Oil Data Initiative as a permanent mechanism in 2003. And following the endorsement by IEF Ministers and with their support, the IEF assumed the role and responsibility of co-ordinator of JODI in January 2005 and manages the JODI World Database with the objective of improving the quality and transparency of international oil statistics.

More than 90 countries, representing more than 90 percent of global supply and demand, are now submitting data to JODI through the organization they belong to. The data cover production, refining, demand and stocks of seven product categories: crude oil, LPG, gasoline, kerosene, diesel oil, fuel oil and total oil. JODI is promising work in progress with great potential.

Political attention and expectation

IEF Ministers continue to underline the importance of transparency and exchange of data for market predictability and for the investments required to enhance energy security. They emphasize their support of, and expectations for JODI, envisaging the initiative in due course being expanded to include also other sources of energy that are important in the world energy mix. At their request, the IEF Secretariat is preparing for the 11th IEF that will take place in Rome in April 2008, a feasibility study on the potential expansion of JODI to include natural gas.

The importance of the better data through JODI for energy security was forcefully echoed by the G8 Heads of Government in their St. Petersburg Plan of Action on Global Energy Security in July 2006. The JODI partner organizations are greatly encouraged by their political pledge to take further action to improve and enhance the collection and reporting of market data on oil and other energy sources by all countries including through development of a global standard for reporting reserves. The G8 Heads of Government invited JODI partner organizations to work on the expansion of JODI membership and to continue to improve the quality and timeliness of data. High-level political support to JODI has been expressed also by APEC Summits and other international meetings of Ministers.

International ambition translated into action

Against that backdrop of high-level political attention and expectation, the IEF Secretariat hosted the 6th International JODI Conference in Riyadh in November 2006. Inaugurated by H.E. Ali I. Al-Naimi, the Minister of Petroleum and Mineral Resources of Saudi Arabia, the Conference gathered 120 participants, representing 30 governments, 9 international energy organizations, 9 international and national energy companies and research institutes and consultants. It marked the first anniversary of the release to the public of the JODI World Database in November 2005 by King Abdullah on occasion of the official inauguration of IEF Secretariat headquarters also attended by Ministers of important IEF countries.

JODI partners have organized regional JODI training workshops for officials from Latin American countries in Caracas in August 2006 in co-operation with Venezuela, for officials from sub-Saharan African countries in Johannesburg in January 2007 in co-operation with South Africa and held a third workshop for officials from Middle East and North African countries in Algiers in October 2007 in co-operation with Algeria. With a special financial grant provided by Norway, the IEF Secretariat now offers short-term internships at its Headquarters for officials from developing countries to familiarize them with JODI.

JODI is international ambition translated into action. For its success, we rely on the political support of participating countries and their submission of timely and accurate data.

See also ‘About JODI’ section for further information.