Oil-producing states near the Caspian Sea should set up a regional oil organization similar to OPEC, Kazakh President Nursultan Nazarbayev told Interfax.
Published:
7 January 2004 y., Wednesday
Kazakhstan, Azerbaijan, and Turkmenistan are among the countries that have large oil deposits in the region and Iran is the only member of the Organization of Petroleum Exporting Countries to border the Caspian Sea.
"World experts confirm that, by and large, the reason why Arab countries and OPEC are nervous is not so much the scale of Caspian deposits as the fact that the states in the region are not members of the cartel," Nazarbayev said in an interview with Interfax in Astana.
Caspian states "should set up their own organization before it is too late," he said.
Iran, which borders the Caspian Sea, is one of the 11 members of OPEC, which was founded in 1960. Russia and Kazakhstan have sometimes attended OPEC conferences as observers.
Šaltinis:
Bloomberg
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Motorola, Inc. today reported sales of $7.5 billion in the third quarter of 2008.
more »
The global financial crisis has already battered many European banks. Now it is hitting the EU auto industry, the world’s largest producer of motor vehicles.
more »
The European Commission has approved, under EC Treaty state aid rules, a German rescue package intended to stabilise financial markets by providing capital and guarantees to eligible financial institutions.
more »
A new report by the European Commission has assessed the competitiveness of the European Union in the global economy at the end of a decade of rapid economic change.
more »
Revenue surpasses $15 billion with healthy sales of enterprise software and Xbox 360 consoles.
more »
Airport charges are one of the hidden costs of flying and usually they are passed on from airlines to passengers.
more »
US and European leaders agree to series of summits on world finance.
more »
On Monday MEPs will debate a recovery plan for cod stocks in the North Sea and West Scotland. With over 70% of the world’s fish species already fully exploited or depleted, fisheries faces a crisis.
more »
A new study released by the European Commission today confirms the trend towards more private pension provision in the EU but highlights the need for inclusive coverage and adequate pension levels.
more »
Thursday, October 16, Brussels. President of the Republic of Lithuania Valdas Adamkus attended the second day session of the European Council meeting.
more »