OPEC seen in decline with new reservs in Africa, S. Merica

Saturday, November 15, 2003

The United States expects the role of OPEC to diminish as oil and natural gas reserves are developed in Africa and South America.

U.S. officials said Washington regards energy reserves in Latin America and West Africa as a growing source of supply for the United States. They said while these reserves will never replace those in the Middle East, the United States will increasingly rely on African and South American oil and gas fields.

"Significant increases in liquefied natural gas imports from West Africa and Latin America along with new supplies from the Middle East, Russia and North Africa are likely to meet our rising demands," John Brodman, deputy assistant secretary for international energy policy at the U.S. Department of Energy, said.

Brodman told the Senate subcommittee on International Economic Policy, Export and Trade Promotion on Oct. 21 that over the past decade non-OPEC oil production has limited OPEC's share of the market in a trend that is expected to continue. He said Africa and Latin America together could contribute up to seven million barrels a day of additional oil to the market in the next 10-15 years. But the official warned that West Africa remains a region of conflict and this could affect production and investment.

Print this Article Print this Article Email this article Email this article Subscribe to this Feature Free Headline Alerts
Search Worldwide Web Search Search WorldTrib Archives

See current edition of

Return to World Front Cover

Back to School Sweepstakes