OPEC will give place to holding?

23.05.2003 07:37

The leadership of the Organization of Petroleum Exporting Countries /OPEC/ intends to create a holding, with the world oil cartel being only a part of it, a high ranking source in the OPEC General Secretariat in Austria stated on Friday.

The issue of creating a holding will be included in the agenda of the 125th special conference of oil and energy ministers of the OPEC member-states, which is scheduled to take place in the capital of Qatar, Doha, on June 10th-11th. Chief energy experts of the cartel member-states will exchange their opinions "about the need for the OPEC expansion and its increased internationalisation," the source stated.

According to him, the final decision on the issue will be made at the OPEC summit scheduled for June 2005.

According to the source, he does not have any information about certain participants of the holding and the location of the future oil corporation's headquarters.

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