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Tue 16 Sep, 2003 05:59 pm
A positive for them.
Iraq to attend Opec meeting
Restoring oil exports is vital to Iraq's future
Iraq has been invited to attend an Opec meeting for the first time since occupation by US-led forces, the oil producers' cartel said.
The invitation marks an important step in the country's rehabilitation as an oil producer.
It will also calm fears among some Opec members that an eventual sovereign Iraq government will exit the cartel, under US influence.
Iraq is a founder member of Opec, but it has not attended a meeting since the US-led invasion this spring, and it has not taken part in Opec's output agreements since 1991's Gulf War.
'Constructive policies'
New Iraqi Oil Minister Ibrahim Bahr al-Uloum, appointed by the Governing Council, will head an Iraqi delegation to Opec's 24 September conference in Vienna.
Opec is anxious to retain Iraq, which has the world's second largest oil reserves, within its fold.
But it is not expected that the country, which is struggling to reach pre-war production levels, will be reincorporated into the group's system of output quotas any time soon.
In a statement, Iraq's oil ministry said: "The removal of the Baath regime and its detrimental oil policies towards the oil industry in Iraq and elsewhere has opened the way for new, constructive, and more positive policies towards Opec and the international community.
"As a major producer and exporter of oil with huge potential for expansion, Iraq will certainly play an increasingly dominant role in international oil affairs, contributing, as it is sincerely envisaged, in the stabilisation of the present and future developments of the oil market".
Active member
Opec initially insisted it would only welcome a representative from an Iraq government recognised by the United Nations.
But most Opec members softened that stance after Arab League foreign ministers let the Governing Council take Iraq's vacant seat at talks last week in Cairo.
Some in Opec had suggested Mr Uloum attend next week's meeting merely as an observer.
But an Iraqi official told the Reuters news agency that the minister intended to represent Iraq as an active member of the group.
OPEC president Abdullah Al-Attiyah also defended Iraq's wish to attend the meeting.
"The organisation has to invite Iraq to the upcoming meeting in Vienna... I believe in Iraq's importance as an active member of the organisation," Mr Mr Al-Attiyah told reporters on Monday.
Opec is expected to leave production restraints unchanged for the fourth quarter to support prices near its target of $25 a barrel.
Maybe Iraq won't trade in euros after all, huh.
and the US is allowing this?
ye110man
Quote:and the US is allowing this?
Why wouldn't the US allow it? I would suggest they would encourage Iraq's participation.
The US sees this as a sign of the legitimacy of their puppets. Congratulations...we have installed another one.
Hobitbob
Since you seem to frown on it,what would you have suggested?
I don't think the Iraqi delegation should have gotten a seat. I think they should have followed the UN's example and granted,at best, partial recognition. But, I understand OPEC's reasoning. Iraq sits on a large petroleum reserve, and delays in beginning conferences can effect the other members. In addition, should the US ever get the Iraqi production up and running, an Iraq that is not following OPEC's lead could seriously undercut prices.
hobitbob wrote:I don't think the Iraqi delegation should have gotten a seat. I think they should have followed the UN's example and granted,at best, partial recognition. But, I understand OPEC's reasoning. Iraq sits on a large petroleum reserve, and delays in beginning conferences can effect the other members. In addition, should the US ever get the Iraqi production up and running, an Iraq that is not following OPEC's lead could seriously undercut prices.
So you don't think Iraq's sovreignty should be recognized by the UN?
Brand X wrote:
So you don't think Iraq's sovreignty should be recognized by the UN?
How do you define sovreignity, Brand X?
(Normally, it's [shortened]
a government free from external control;the supreme, absolute, and uncontrollable power by which any independent state is governed .)
Walter Hinteler wrote:Brand X wrote:
So you don't think Iraq's sovreignty should be recognized by the UN?
How do you define sovreignity, Brand X?
(Normally, it's [shortened]
a government free from external control;the supreme, absolute, and uncontrollable power by which any independent state is governed .)
Technically, they have their own gov't eventhough it hasn't been completely in their power as of yet. Being viewed as a sovereign country in light of representing themselves as an Opec member should be of no problem to the UN, they should be more than happy to, especially with oil being the primary resource and economy of that country. Going to an Opec conference and having a fully operational 'sovereign' gov't are two entirely different issues. In effect the UN would be holding them down if they don't allow Iraq to start conducting business.
Brand X
You show an interesting view of how a state gets sovereinity, and how that is proved.
Thank you!
Walter Hinteler wrote:Brand X
You show an interesting view of how a state gets sovereinity, and how that is proved.
Thank you!
If you are saying that I think being able to sell oil, or conduct business in general makes them sovereign, that isn't what I meant. Is that your tought or were you being sincere?
Well, since you said
Quote:
So you don't think Iraq's sovreignty should be recognized by the UN?
I really thought, you had a ..., ehem, new view of sovereignity.
Walter Hinteler wrote:Well, since you said
Quote:
So you don't think Iraq's sovreignty should be recognized by the UN?
I really thought, you had a ..., ehem, new view of sovereignity.
I understand your response then, I was as clear as 5w30 instead of H2O.
au1929 wrote:ye110man
Quote:and the US is allowing this?
Why wouldn't the US allow it? I would suggest they would encourage Iraq's participation.
why would the US want iraq to participate in opec and lose price control?
ye110man
Quote:why would the US want iraq to participate in opec and lose price control?
Price control. How could the US control the price even if they wanted to with the trickle of oil coming out of Iraq in the next few years. You are barking up the wrong tree
from the article...
Quote:It will also calm fears among some Opec members that an eventual sovereign Iraq government will exit the cartel, under US influence.
i can't see iraq remaining in opec once they get their production up. which is why i was surpised the US allowed the iraqi oil minister to attend opec at all.
Maybe the new Oil Minister just wants to check it out, or maybe he's going to tell them they're leaving it.
Hold on, I need to get my Tin foil hat on...
Ok, I think it's because Iraq wants to be part of OPEC and that means someone has to go to the meetings. They figure that if they are going to sale all their oil, they are going to want to be a participating member.
I don't see them leaving it, it wields to much power for them.
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