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OPEC to Set Oil Production Quota for Angola in 2008  

08-30-2007

The Organization of Oil Producing Countries (OPEC) is expected to set an oil production quota for Angola only in 2008, said the secretary-general of the cartel, Abdalla Salem El-Badri, in Luanda.

In a press conference, El-Badri noted that nothing had been defined as the oil market was currently quite stable, with no lack of supply or production problems.

"Things will be clearer in December, the last semester in which the organization’s secretariat is due to meet," said the secretary-general, according to whom the visit to Angola served to discuss several issues and not specifically to set future production quotas.

El-Badri praised the progress made over the last few years in the country’s oil industry, saying that he had been given more precise information about the start of production at new oil fields in bloc 17 (Girassol and Dália) as well as the Grande Plutónio ship, scheduled for the end of this year.

Angola’s oil minister, Desidério Costa, also announced that in 2009 Angola intended to host an international oil conference.

In relation to the possible membership of more members in the cartel, El-Badri said that “the organization does not force any state to become a member, and everything depends on the interests of each country."