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OPEC chief supports Saudi compensation appeal
- Saudi Arabia: Monday, November 23 - 2009 at 10:38
OPEC will support Saudi Arabia's appeals for compensation if talks, at next month's UN Climate Change Conference in Copenhagen, end with commitments to reduce oil consumption in developed countries, the group's Secretary-General has said. OPEC's increased dependence on oil revenue and a growing international support for green energy have caused growing pressure on members to secure compensation for loss of oil revenue. Saudi Arabia had first proposed a program for compensation in 1992, during the UN conference in Rio de Janeiro.
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StaffMonday, November 23 - 2009 at 10:38 UAE local time (GMT+4)
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