Energy

Iran stresses OPEC presidency

Tehran, Feb 8 – Iranian Oil Minister Bijan Namdar-Zanganeh describing the history behind the selection of the oil cartel’s secretary general since its inception said Saturday “given the 42-year wait by Iran for selection of its secretary general, it is hoped that OPEC members will have favorable view of Iran candidacy to the post.”

Oil Ministry public relations department said that Namdar-Zanganeh, in a meeting with Venezuelan Oil Minister Raphael Ramirez called on the members to cooperate with Iran on the issue.

The two officials also discussed the situation in the oil market, OPEC internal policies, and Tehran-Caracas economic and oil cooperation.

Ramirez expressed satisfaction on the outcome of discussions with his Iranian counterpart, saying “Iran is ready for cooperation with Venezuela in the oil sector and joint investments.” “Iran is also ready to cooperate with Venezuela on manpower training,” he said.

The meeting took place ahead of the 129th meeting of the 11-member oil cartel scheduled for an emergency session in Algiers on February 10th.

Meanhwile, based on current statistics, average growth in crude demand will be 1.2 million barrels a day in 2004, major portion of which to be met by the non-OPEC members considering the amount of their production.

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