What is the Joint Organisations Data Initiative?
The Joint Organisations Data Initiative (Jodi) is a concrete outcome of the producer-consumer dialogue. In 2001, six pioneering organisations (APEC, Eurostat, IEA, OLADE, OPEC and UNSD) answered the call by Energy Ministers at the 7th IEF Ministerial in 2000 in Riyadh to address the issue of the lack of data transparency in oil markets, seen as a cause of excessive price fluctuations, and established the Joint Oil Data Exercise. The Initiative was established as a permanent mechanism in 2003 and Jodi, the "Joint Oil Data Initiative" was born. Following endorsement by Ministers, the IEF Secretariat assumed the role and responsibility as the co-ordinator of Jodi in January 2005. The Jodi partners’ successful establishment of oil data provision architecture inspired IEF Ministers to call for an extension of the Initiative to cover natural gas (JodiGas) and annual data on upstream and downstream capacity and expansion plans (JodiInvestment). To accommodate progress on these new challenges beyond oil data transparency, the seven Jodi partner organisations have now re-branded Jodi as the Joint Organisations Data Initiative.
What are the objectives of the Joint Organisations Data Initiative?
The Joint Organisations Data Initiative (Jodi) provides a reliable, freely accessible and comprehensive database of energy statistics unlike any other in the world. Through the use of nationally-sanctioned data, which can be difficult if not impossible to access through alternative avenues, Jodi offers a fair assessment of global oil consumption and production on a monthly basis. Data uncertainty can be detrimental to fair market operations - by improving data transparency, undue price volatility can be moderated, increasing investor confidence and contributing to greater stability in energy markets worldwide. Jodi, as a database and broader collaborative, is instrumental to the pursuit of complete energy data transparency.
How does Jodi work?
Jodi is a voluntary activity. Participating countries complete a standard data table (see table on page 2) every month for the two most recent months (M-1 and M-2) and submit it to the Jodi partner organisation(s) of which it is a member. The respective organisation compiles the data and forwards it to the IEF Secretariat which is responsible for the JodiOil World Database.
How is the JodiOil questionnaire submitted?
Deadline for submission is the 25th of each month. The JodiOil questionnaire is an in Excel format, available on the JodiOil website, and includes two worksheets: one for month M-1 and one for month M-2. Countries can submit their data to the organisation(s) they belong to in the unit of their choice (barrels, tons or litres). Information about definitions of flows/products is available on the JodiOil website. The JodiOil Manual can be downloaded from the JodiOil website and provides additional information about the methodology and definitions used in JodiOil.
What is the extended JodiOil questionnaire?
After a two year trial period, the seven Jodi organisations implemented an extended JodiOil questionnaire following endorsement by the 7th International Jodi Conference in Quito. This extended format gives a more complete picture of the market and allows for a more accurate supply / demand assessment.
What is the JodiOil World Database (JodiOil WDB)?
The JodiOil World Database, administered by the IEF, is comprised of seven product categories and eight flows based on the initial JodiOil questionnaire (see www.jodioil.org). Data submitted by the six partner organisations (APEC, Eurostat, IEA, OLADE, OPEC and UNSD) is available in three different units (barrels, tons and litres), for nearly 100 participating countries/economies from January 2002 to the most recent update. The Jodi WDB can be accessed free of charge on the JodiOil website (www.jodidata.org). The Jodi WDB's user friendly graphic interface offers data users easy and efficient browsing of the database.
What are the results of JodiOil so far?
Nearly 100 countries/economies participate in submitting official monthly data for JodiOil. For many countries, especially the top 30 producers and consumers, timeliness, coverage and reliability of the data are already at commendable levels. JodiOil has raised awareness about the importance of better data for our common energy security, and as a means to strengthen links between countries, organisations and industry. JodiOil has also improved the reporting mechanisms of many participating countries.
Who is responsible for the data?
The data are submitted by the national authority of the participating country. These data are considered authoritative and are not subject to alteration by any of the Jodi partner organisations. However, in case there is a need for data clarification, each organisation is responsible for contacting the national authorities of its membership directly, before feeding official responses back to users.
How good is the data quality?
Member countries and Jodi partner organisations are continuously working to improve data quality. Partner organizations conduct regional training workshops on Jodi to offer statisticians and experts from participating countries an opportunity to clarify and improve their knowledge of definitions, data quality assessment and oil data issues, and to share their experience on best practices of oil data management. Moreover, the IEF Secretariat hosts Jodi Internship programmes at its headquarters in Riyadh, for officials from developing countries with direct responsibility for oil statistics.
How can a country join the initiative?
Any country that wishes to participate may contact the IEF Secretariat or the relevant international organisation of which it is a member (APEC, Euorstat, IEA, OLADE, OPEC or UNSD). See the list of contacts on the reverse or email JodiInfo@ief.org
What are the cost implications of participating in the Jodi?
Participation in the activity is on a voluntary basis and no budgetary contribution is required. The only commitment is to regularly submit monthly data in the standard table format to the organisation of which the participating country is a member.
What is the involvement of the oil industry in the Initiative?
In many cases, industry is the source of national administration data. Additionally, industry is also a data user. The participation of the oil industry is key to the overall success of the Initiative. Transparency is only possible if all market players fully co-operate. All players, including industry and their customers, should benefit from greater transparency and from a global and reliable database.