From among the thirty-one (31) members of the Board, twenty-three (23) serve as permanent members of the Executive Board and eight (8) as rotating members. Permanent members of the Executive Board are the Host Country of the Secretariat, the eleven (11) largest oil and gas producers and the eleven (11) largest oil and gas consumers. Following each IEF Ministerial, the rotating members of the Executive Board are selected by the permanent members of the Board under the Chairmanship of the Host country of the next IEF Ministerial within one month following the establishment of the Executive Board with permanent members.
In the selection of the rotating members consideration is given to achieving a balanced representation among oil and gas, producing, consuming and transit states, developed and developing countries, geographical distribution is also taken into account.
The Executive Board meets at least twice a year to execute its duties, which include approval of membership to the Forum, appointment of the Secretary General, approval of holding Extraordinary Ministerial Meetings, approval of the theme and programme of the biennial IEF Ministerial and IEBF, as well as the Programme of Work, Budget and Statements of Account of the Secretariat.
The current Executive Board chaired by Mr Sunjay Sudhir (India) comprises:
Algeria, Argentina, Australia, Bahrain, Belgium, Canada, China (co-host), Egypt, France, Germany, India (Host), Indonesia, Iran, Iraq, Italy, Japan, Korea (co-host), Kuwait, Mexico, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, Turkey, United Arab Emirates, United Kingdom, United States of America, Venezuela, IEA and OPEC Secretariats.