Publishers Organization of the Exporting Countries, Obere Donau- strasse 93, 1020 Vienna, Austria. Telephone: +43 1 211 12/0; Telefax: +43 1 216 4320; Public Relations & Information Department fax: +43 1 214 9827. E-mail: prid@.org E-mail: OPEC News Agency: [email protected] Vol XXXII, No 5 ISSN 0474-6279 May 2001 Web site: http://www.opec.org. Hard copy sub- scription: ATS 850 ( 61.77)/12 issues.

Membership and aims OPEC is a permanent, intergovernmental Or- ganization, established in Baghdad, September 10–14, 1960, by IR , Iraq, Kuwait, Saudi Arabia and Venezuela. Its objective is to co- ordinate and unify petroleum policies among 2 NOTICEBOARD Member Countries, in order to secure fair and Forthcoming conferences and other events stable prices for petroleum producers; an effi- cient, economic and regular supply of petro- leum to consuming nations; and a fair return 3 COMMENTARY on capital to those investing in the industry. Building a better future The Organization comprises the five The Third UN Conference on LDCs has adopted admirable Founding Members and six other Full Mem- goals, but positive action will be needed to realize them bers: Qatar (joined in 1961); Indonesia (1962); SP Libyan AJ (1962); United Arab Emirates (Abu Dhabi, 1967); Algeria (1969); and 4 PRESS RELEASE Nigeria (1971). Ecuador joined the Organiza- OPEC Secretary General expresses sympathy over tion in 1973 and left in 1992; Gabon joined in US refinery problems 1975 and left in 1995. Secretariat officials 5 FORUM Secretary General Dr Alí Rodríguez Araque OPEC and the geopolitics of the international 5 Director, oil and gas industry Research Division Dr Shokri M Ghanem By HE Dr Alí Rodríguez Araque, OPEC Secretary General Head, Energy Studies Department Dr Rezki Lounnas Future challenges for OPEC and its Members in the 8 Head, Petroleum Market global petroleum sector Analysis Department Javad Yarjani By Dr Shokri Ghanem, Director of OPEC’s Research Division Head, Data Services Department Dr Muhammad A Al Tayyeb Head, PR & Information 11 NEWSLINE Department Farouk U Muhammed, mni Energy stories concerning OPEC and the Third World In charge of Administration & Human Resources Department Sugeng Haryanto Head, Office of the 22 MARKET REVIEW Secretary General Karin Chacin Oil market monitoring report for April 2001 Legal Officer Dolores Dobarro Web site 40 MEMBER COUNTRY FOCUS Visit the OPEC Web site for the latest news and Financial and development news about OPEC Countries information about the Organization and its Member Countries. The URL is http://www.opec.org 47 ADVERTISING RATES How to advertise in this magazine This month’s cover ... shows pipelines in Algeria, which has just launched a new oil and gas licensing round (see Newsline story on 48 ORDER FORM page 11). Photo courtesy . Publications: subscriptions and single orders

Indexed and abstracted in PAIS International 49 OPEC PUBLICATIONS Printed in Austria by Ueberreuter Print and Digimedia Information available on the Organization

May 2001 1 NOTICEBOARD

Forthcoming events London, UK, July 3–4, 2001, Capitalizing Asia-Pacific Petroleum Conference. Details: on the opportunities of an integrated gas and APPEC 2001, Times Conferences & Phuket, Thailand, June 25–26, 2001, Evalu- electricity portfolio: learn how to integrate and Exhbitions, 1 New Industrial Road, Times ating International Acreage & Projects. Details: manage risk in a multi-commodity portfolio. Centre, Singapore 536196. Tel: +65 3801420; Conference Connection Administrators Pte Details: Maria Nilsson, Energy Forum. Tel: fax: +65 2865754; e-mail: [email protected]. Ltd, 212A Telok Ayer Street, Singapore +46 8 20 90 95; fax: +46 8 20 90 73; e-mail: 068645. Tel: +65 226 5280; fax: +65 226 [email protected]; Web site: www. 4117; e-mail: [email protected]; Web energyforum.net. Tehran, IR Iran site: www.cconnection