TEHRAN, April 19: The possibility of Iraq leaving the Organization of Petroleum Producing Countries (Opec) would not be in the long-term interests of the cartel members, Iran’s Oil Minister Bijan Namadar Zanghaneh said on Saturday.
“It is in Iraq’s interests to stay within Opec,” said Zanghaneh at the closure of an oil and gas conference in Tehran, but he conceded that if it were to leave, “it would not have any influence on the market.”
However, if Iraq were to quit Opec it would hurt both the country and the group as a whole, he said. Iraq would have less influence on the world market and the long-term interests of other Opec members would be harmed, according to the minister.
Some analysts are predicting that Iraq, now under the control of US forces, would leave Opec to rid itself of the system of export quotas assigned by the cartel to its members, thus flooding the market with more oil and bringing down prices.
Zanghaneh said he would urge a cut in oil output at Opec’s next meeting in Vienna on Thursday only if such a cut was needed, in an apparent toning down of a stronger statement favouring a cut two days ago that pushed oil prices higher.
OPEC CHIEF: Meanwhile, Bijan Zanganeh also confirmed on Saturday he had proposed his deputy for Opec’s top job.
Asked by reporters in Tehran whether he had nominated Deputy Oil Minister Hadi Nejad Hosseinian, Iran’s former ambassador to the United Nations, for the post of secretary-general, Zanganeh said, “Yes.”
Venezuela’s Alvaro Silva is currently serving as Opec Secretary-General, having replaced fellow Venezuelan Ali Rodriguez in June 2002.
Rodriguez had served just 18 months of a three-year term at the helm of the 11-member producer group before being chosen to run state oil company Petroleos de Venezuela (PDVSA).
The former Venezuelan oil minister shifted into the secretary-general position in January 2001 to settle an 18-month deadlock in a battle between Saudi Arabia, Iraq and Iran.—afp/Reuters
