OPEC Heads Plan Summit To Discuss Oil Market

Friday, October 15, 1999
Senior oil ministry officials from OPEC's 11 member states will meet Nov. 17 in Vienna to prepare a rare summit of the cartel's heads of state and discuss the oil market outlook, an OPEC spokesman said. "They will flesh out the agenda for the heads of state summit and discuss the medium-term objective for OPEC, the oil market situation, supply and demand," said Farouk Muhammed, spokesman for the Vienna-based OPEC secretariat. The meeting will be followed in early December by talks in Caracas of senior diplomats and oil ministry officials, plus OPEC Secretary-General Rilwanu Lukman, to complete preparatory work for the summit on March 30. OPEC oil ministers are expected to hold their next full conference in Caracas on March 27, to review a 12-month agreement to cut production. Diplomats said Venezuela's Deputy Foreign Minister Jorge Valero will attend the Vienna talks, possibly accompanied by his counterpart at the oil ministry, but it is up to each OPEC state to decide whom to send. Muhammed said representation would be at least at the level of OPEC's Economic Commission Board, which meets regularly to prepare reports on the oil market situation for ministers. The Caracas summit, only the second in the cartel's 40-year history, is expected to declare a new philosophy for OPEC and approve a plan of action to guarantee stable oil prices. The Organization of the Petroleum Exporting Countries groups Saudi Arabia, Iraq, Iran, the United Arab Emirates, Kuwait, Qatar, Libya, Nigeria, Algeria, Indonesia and Venezuela.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Oil Companies Bidding for Blocks in Colombia

Oil companies were bidding on Wednesday for 95 oil areas Colombia is offering for exploration and production in an effort to raise output from around 1 million

Ocean Mineral Singapore Set for Seabed Exploration

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1273 sec (8 req/sec)