O.P.E.C. men seek U.K. oil support

Press, 4 March 1983, Page 8

O.P.E.C. men seek U.K. oil support

NZPA-Reuter London The focus of O.P.E.C. efforts to avert a world oil price was switched to London yesterday as key Oil Ministers gathered for secret talks that could determine the future of the 13-member exporter group. The Ministers of Venezuela. Nigeria, and the United Arab Emirates were among those already in London for a mini-O.P.E.C. conference that O.P.E.C. sources said could engage as many as seven members of the cartel. The sources said that the talks were also expected to include Ministers ■ from Kuwait, Algeria, and Indonesia. as well as Sheikh Ahmed Zaki Yamani of Saudi Arabia.

Nigerian officials said that the meeting would determine whether O.P.E.C. was able to convene a full-scale Ministerial meeting capable of agreeing on determining a new price structure for O.P.E.C. oil.

The choice of a London venue appeared to highlight the importance O.P.E.C. is giving to Britain's role as a main producer in the world oil market. The Venezuelan Oil Minister. Dr Humberto Calderon Berti. said on arrival in London yesterday that he hoped to have more talks With Britain, an oil-producer that would rank second only to Saudi Arabia in output if it Were a member of O.P.E.C.

Dr Calderon has spearheaded O.P.E.C. efforts to

persuade the main nonO.P.E.C. producers, Britain and Mexico, to co-operate in stabilising world prices.

But British officials yesterday gave a clear signal that Britain was unwilling either to peg prices or limit production to help O.P.E.C. solve its crisis.

"O.P.E.C. is a cartel and must run its own affairs. O.P.E.C. must stop involving the British Government in its affairs,” a source close to the Prime Minister, Mrs Margaret Thatcher, said.

Dr Calderon said that he thought O.P.E.C. had made progress towards a pricing and output accord in contacts over the last week in Paris. London, and the Middle East. "I think we are closer now than last week. We are almost reaching an agreement oh price and we have to work a little more on production and quotas.