The Minister of Hydrocarbons of Equatorial Guinea indicated that the applications for admission to OPEC sent by the three nations are being considered.
Chad, Congo and Malaysia on Wednesday requested their entry into the Organization of Petroleum Exporting Countries (OPEC), said Minister of Mines and Hydrocarbons of Equatorial Guinea, Gabriel Obiang Lima.
Obiang Lima explained, during the international CERAWeek conference, that in Africa there are nations such as Congo and Chad that besides being producers are interested in being part of the organization. The Equatorial Guinean minister says that adding new members to the entity will help the international community to “see the new image of OPEC.”
The minister said that while countries like Indonesia withdrew from the entity to be observers, there are others like Malaysia, Chad and Congo who submitted their applications to join the organization.
Although he warned that these countries do not produce petroleum products, “they develop and in the long term they can reach a level of up to four thousand barrels per day.”
CERAWeek, the most important energy event in the United States (US), left out the discussion about oil prices and production levels of OPEC, because these issues clash with the rules imposed by the US . regarding the pricing.
The United States is accused of generating a disturbance in the oil market with the increasing excavations and overproduction. To stabilize the sector, the member countries of OPEC and allies not members of the organization have signed an agreement to reduce their production.