OPEC SEES TAX REFERENCE VALUATION AS KEY TO UK PRICE INTENTIONS

MEES Executive Editor Ian Seymour Reports from Geneva

Although the British Government's decision to abolish BNOC carries obvious seeds of potential market destabilization, at least some OPEC Ministers still see a ray of hope for a future cooperative approach by the UK on vital matters of oil pricing and disposal.

This much emerged from consultations held in Geneva this week between a number of OPEC Ministers on the latest...