- The IEF is an inter-governmental arrangement set up in 1991 and based (Secretariat) in Riyadh, Saudi Arabia.
- It serves as neutral facilitator of informal, open, informed and continuing global energy dialogue among its member countries.
- There are 72 member countries of IEF (comprising of energy producing and energy consuming states, including transit countries) including India, covering all six continents.
- Its membership accounts for 90% of global supply and demand for oil and gas.
- IEF’s Executive Board (EB) was set up in 2002 and comprises of 31 designated representatives of Ministers of the member states. It meets twice a year.
- International Energy Agency (IEA) and Organisation of the Petroleum Exporting Countries (OPEC) are non-voting members of the Executive Board.
- The EB is chaired by the Host State of the next biennial Ministerial Meeting. Indian is currently Chair of IEF’s Executive Board.
- The IEF Ministerial Meetings are held biennially and is world’s largest gathering of Energy Ministers who engage in dialogue on global energy issues.
- Why in news? IEF ministerial meeting was held in New Delhi.