Citing energy trends, World Petroleum Council changes name
11 July 2023
Dropping petroleum, now called WPC Energy
Citing what it sees as a global transition to low-carbon energy, the World Petroleum Council will operate under a new name--WPC Energy.
The organization was founded in 1933 with the intent to promote the management of the world’s petroleum resources for the benefit of mankind. The WPC’s prime function is to facilitate dialogue among stakeholders, both internal and external to the petroleum industry on key technical, social, environmental and management issues in order to contribute towards seeking solutions to those issues.
But the organization announced in a news release that it will expand its focus to lead the global transition to a low-carbon energy system, achieved through a diverse and sustainable mix of energy sources.
“This process, part of a wider, ongoing strategic review to facilitate dialogue and connection across all spheres of the rapidly evolving energy landscape supports our focus not only on new and traditional energies but on emerging industry trends such as increasing energy efficiency, circular economy, synthetic and biofuels, digitalization and electrification,” said Pedro Miras, President of WPC Energy. “We advocate that all energies and technologies must be embraced to face the challenge to energize the planet in a responsible way. As our business strategy shifts, so must our brand strategy – and as such this represents the most significant change to our identity in our 90 years of history. Our priority has been to acknowledge the rich heritage and DNA of our organisation whilst focusing on a new future.”
The 24th World Petroleum Congress taking place Sept. 17-21 in Calgary will not be changing its name.