India to host global energy confce today
Afp, New Delhi
Energy ministers from 10 oil-producing countries were expected to attend an oil and gas conference starting today in New Delhi against a backdrop of tumbling oil prices, officials said.The oil ministers of Nigeria, Iran, Venezuela, Saudi Arabia, Qatar, Sudan, Romania, Myanmar, Sri Lanka and Yemen were slated to be at the conference, Indian officials said, according to the Press Trust of India. The meeting comes as oil prices have slid by up to nine dollars since the start of the year, hit by an unseasonably warm winter in the United States that has knocked US fuel demand and boosted stockpiles. Members of the Organization of the Petroleum Exporting Countries (Opec) have expressed concern about the plunging price of oil, which has slid some 14 percent since the start of the year. On Saturday, Iran and Venezuela called for new Opec oil production cuts to support plunging world crude prices. The sharp falls have prompted speculation that Opec could soon hold an emergency production meeting. The meeting's theme is "Energy, Economy, Equity, Ecology". It is part of the International Oil and Gas Conference and Exhibition "Petrotech-2007" organised by India's state-owned Oil and Natural Gas Corp.
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