Press Release

No.: 65/99
Date: 04.10.99

Meeting between the Secretary of Energy of Mexico and the Minister of Petroleum and Energy of Norway

Today the Minister of Petroleum and Energy of Norway, Marit Arnstad, and the Secretary of Energy of Mexico, Luis Téllez, met in Oslo with the aim of analyzing the evolution of the international oil market.

During their cordial meeting, the Ministers recognized the success achieved by the world oil supply restraint among oil producing countries, both OPEC and independent producers, and agreed on the importance of continuing the cooperation efforts undertaken to consolidate the stability of the international oil market.

Moreover, they stressed that, although price levels have initiated an important recovery, market fundamental still show imbalances. Norway and Mexico reiterated their commitment to maintain their oil supply restraint.

The Ministers decided to continue to stay in close communication in order to further contribute to stabilize the international oil market.

The Minister of Energy of Mexico expressed his appreciation to the people and the Government of Norway for their warm hospitality.

Contact:
Sissel Edvardsen, +47 22 24 61 09