OPEC to meet in Bali

Mon, 22 Aug 1994 | Source: REUTERS

LONDON (Reuter): OPEC has agreed to hold its year- end ministerial talks beginning on Nov. 22 in Bali, Indonesia, OPEC sources said on Friday.

Indonesia offered at the June meeting of the Organization of the Petroleum Exporting Countries (OPEC) to host the end-year session but it wasn't clear until this week whether all the logistics would be worked out in time, the sources said.

At the November talks, OPEC is expected to set its output ceiling for the first-quarter 1995 and decide on a secretary general, something it was unable to do when it met in June.

Refusal of both Iran and Venezuela to withdraw their nominations led to a deadlock in the group's search to replace Indonesia's Subroto as secretary general.

OPEC president Salem Abdalla al-Badri of Libya is serving as acting secretary general while the group comes up with new nominees. The decision on a new secretary general must be approved by all 12 members.

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