Russia, Chavez Wants To Articulated Buses Form The Oil Cartel OPEC Counterpoint
Venezuela's President Hugo Chavez wants to create a cartel group of oil exporting countries compete with OPEC. The new group was expected only of the countries of the world's oil giants.
The desire is delivered while guaranteeing Chavez Deputy Prime Minister Igor Sechin of Russia and Energy Minister Sergei Smatko, as quoted by AFP, Thursday (7/10/2011).
"I have an idea, creating a new organization ... of oil giants," Chavez said during a Cabinet session that broadcast radio and television which was also attended by officials of the representative of Russia.
"We are not more than 4 or 5 countries only," said Chavez. And of course, Russia and Venezuela will go in a new cartel.
He said, Russia and Venezuala are the two oil giants which existed on the planet, and the cartel could be present in conjunction with the Organization of Petroleum Exporting Counties (OPEC).
"His approach is not all means OPEC will suffer. OPEC is an organization with a history, profile, path and Venezuela have played and will continue to play a role, "imbuh Chavez.
As a founding member of OPEC, Venezuela has oil production averaged 3 million barrels a day. According to the International Energy Agency, Venezuela is the largest oil-producing countries to 8th in 2009.
Venezuela in January and claimed to have defeated Saudi Arabia as a country with the largest proven crude oil reserves in the world, up to nearly 300 billion barrels.
