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OPEC Welcomes Russia
OPEC would like to welcome Russia as its member. The respective statement was made by Algerian Oil Minister and OPEC President Chakib Khelil, who, however, specified that Russia hadn’t officially applied for the membership.
"I have received no official request from Russia to become a member of the organization, even though we would like that," the official Algerian news agency APS quoted Algerian Energy Minister Chakib Khelil as saying, The Associated Press reported.
The RF Energy Minister Sergei Shmatko hoped September 19 that Russia and OPEC would seal the cooperation agreement in October in Moscow. Russia handed over the proposals during the OPEC summit in Vienna, the minister reminded.
“We know that they are being considered positively,” Shmatko said, adding that Russia has been cooperating with OPEC for a decade and potential of the dialogue’s new format is very interesting. Russia intends to attend the next meeting of OPEC that is slated for December 17, 2008, Shmatko said.
OPEC decided September 10, 2008 to cut daily oil production to 28.8 million bbl due to excessive market supply of crude oil. This move reduces the production by 520,000 bbl/day, or by 1.8 percent vs. July of 2008.
The second largest oil and gas producer, Russia isn’t OPEC member but it regularly attends sittings of the cartel, which unites Algeria, Angola, Venezuela, Gabon, Iraq, Iran, Qatar, Kuwait, Libya, Nigeria, the United Arab Emirates, Saudi Arabia and Ecuador.
www.kommersant.com
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