OPEC opens talks with Chinese officials

[lovuian]

http://feeds.bignewsnetwork.com/?sid=76be9d31d366dfc8

China leaders, looking for a secure and consistent source of oil and natural gas, have opened talks with the Organization of Petroleum Exporting Countries.

The oil cartel sent officials, including OPEC President Sheik Ahmad Fahad Al-Ahmad Al-Sabah, to Beijing this week for preliminary discussions with Chinese officials. Negotiators issued a statement saying ministerial-level meetings would be scheduled and a technical roundtable was set for Vienna, Austria, in the first half of 2006.

Both parties believe that effective producer-consumer dialogue provides a 'win-win' situation for all participants, as well as for the industry as a whole, the statement said

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This doesn't bode well for gas prices...