Sudan participates at OPEC ministerial meeting

KHARTOUM, Sep 16, 2004 (SUNA) — The Minister of Energy and Mining, Dr. Awad Ahmed Al-Jaz, participates in the ministerial meeting of the Organization of Petroleum Exporting Countries (OPEC), currently in session in Vienna.

The minister said Sudan is taking part in the OPEC’s meeting as an observer, explaining that Sudan would gain full membership in due time.

Dr. Al-Jaz said that OPEC shall set a new crude oil price system to meet the demands of both the exporters and consumers at the same time.

It is to be noted that OPEC is opted to adopt a new pricing system for crude oil instead of the current system; which is around 28 US dollars per barrel, due to the continuous rise of price and its increase to over 40 dollars in the past months.