Ministers and officials from the world's major oil exporting nations met in Vienna on Friday (16 March) to analyse the present international fuel and energy situation.
GV Street PAN TO OPEC office
CU Sign "OPEC"
SV INT President, Chairman & Secretary seated ZOOM OUT TO other delegates seated
MV Delegates from Kuwait seated
MV Delegates from Libya and Arab Republic
CU Sign "Indonesia" ZOOM OUT TO RV delegate seated
MV Saudi Arabian delegates PAN TO Venezuelan delegates
MV Delegates from Abu Dhabi PAN TO delegates from Algeria.
CU Cameraman ZOOM OUT TO GV delegates seated
Initials BB/0112 TS/DW/BB/0120
Background: Ministers and officials from the world's major oil exporting nations met in Vienna on Friday (16 March) to analyse the present international fuel and energy situation.
The special conference was called by the Organisation of the Petroleum Exporting Countries (OPEC) at its office headquarters.
At Venezuela's proposal, II governments will consider what action is needed to keep oil reserves to meet international needs until the end of the century. At the same time, they are expected to press for higher prices for crude oil.
The conference was opened by Opec's current president, Alhaji Shettims Ali Monguno, the Nigerian Federal Commissioner for Mines and Power.
SYNOPSIS: Top oil ministers representing the world's major oil exporting nations began a conference in Vienna on Friday to deal with the international fuel and energy situation. The conference was opened by the president of the Organisation of the Petroleum Exporting Countries, Alheji Shettima Ali Monguno.
Eleven Governments represented at the conference have only one item to discuss -- a threatened world shortage of basic fuels. Opec was set up in 1960 to fight for producer interests. It represents Algeria, Abu Dhabi, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia and Venezuela.
Opec experts believe present fuel reserves may run out in 30 to 40 years. They say the present situation is potentially autotrophic.