OPEC

Caracas, Venezuela, May 21, 2008 -- Abdalla Salem El-Badri, OPEC Secretary General, who is currently on a week long working visit to the two OPEC Member Countries in Latin America, the Bolivarian Republic of Venezuela and Republic of Ecuador, was on Tuesday granted audience by President Hugo Chavez Frias, in Caracas. The meeting covered a number of topics, including the current oil market situation, the positive relationship between Venezuela and the OPEC Secretariat, and a follow up on some of the issues contained in the three Declarations of OPEC Heads of State and Government which were adopted in Algiers (1975), Caracas, (2000) and Riyadh (2007).

Vienna, Austria, 5 January 2008 -- The 146th (Extraordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries, held in Abu Dhabi, UAE on 5 December 2007, adopted the following Resolution, which, in accordance with customary procedures, has been ratified by the Member Countries and is issued herewith:

Resolution No 146.434

The Conference,

upon the recommendation of the Board of Governors, in accordance with the Statute and the Financial Regulations, approves,

1. The Budget for the year 2008, totalling €22,458,456.
2. That the contribution payable by each Member Country shall be €1,900,000, payable in one instalment not later than 31 March 2008.

Done in Abu Dhabi, UAE, this Fifth Day of December 2007.

Abu Dhabi, UAE, 5 December 2007 -- The 146th (Extraordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) convened in Abu Dhabi, United Arab Emirates, on 5 December 2007, under the Chairmanship of its President, HE Mohamed Bin Dhaen Al Hamli, Minister of Energy of the United Arab Emirates and Head of its Delegation, and its Alternate President, HE Dr Chakib Khelil, Minister of Energy and Mines of Algeria and Head of its Delegation.

The Conference congratulated Ecuador on its resumption of full Membership of the Organization, and extended a warm welcome to its Delegation, headed by HE Engineer Guillermo Granja, Undersecretary of Hydrocarbons, representing HE Galo Chiriboga Zambrano, Ecuador’s Minister of Mines and Petroleum.

Abu Dhabi, UAE , 5 December 2007 --

Opening address to the 146th (Extraordinary) Meeting of the OPEC Conference by HE Mohamed Bin Dhaen Al Hamli, Minister of Energy of the United Arab Emirates and President of the Conference:

Excellencies, ladies and gentlemen,

It is an honour for me to welcome you to Abu Dhabi, for the 146th (Extraordinary) Meeting of the OPEC Conference at a time when the United Arab Emirates is celebrating the 36th National day commemorating the creation of the United Arab Emirates Federation. Convening the OPEC Conference in Abu Dhabi for the first time in 29 years has coincided with this auspicious occasion.

Abu Dhabi, UAE - 5 December 2007 -- The 146th (Extraordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) convened in Abu Dhabi, United Arab Emirates, on 5 December 2007, under the Chairmanship of its President, HE Mohamed Bin Dhaen Al Hamli, Minister of Energy of the United Arab Emirates and Head of its Delegation, and its Alternate President, HE Dr Chakib Khelil, Minister of Energy and Mines of Algeria and Head of its Delegation.

The Conference congratulated Ecuador on its resumption of full Membership of the Organization, and extended a warm welcome to its Delegation, headed by HE Engineer Guillermo Granja, Undersecretary of Hydrocarbons, representing HE Galo Chiriboga Zambrano, Ecuador’s Minister of Mines and Petroleum.

Vienna, Austria, 16 October 2007 -- Statement by HE Abdalla Salem El-Badri, Secretary General:

OPEC is carefully watching developments in the oil market and has observed with concern the recent escalation in oil prices.

While the Organization does not favour oil prices at this level, it strongly believes that fundamentals are not supporting current high prices and that the market is very well supplied. There has been no interruption in crude supplies and OECD commercial inventory levels remain above five-year levels. Forward cover, which stands at 53.5 days, is at a comfortable level.