VOL. XLV

No 42

21-October-2002

OPEC

IEA Estimates Of OPEC Members Liquids Reserves Significantly Lower Than OPECs Own

In its recently published World Energy Outlook 2002 (WEO 2002), the International Energy Agency (IEA) provides estimates of OPEC country oil and NGL reserves which are significantly lower than the organizations own estimates. In WEO 2002, the IEA has downgraded significantly the official reserves figures published by almost all the OPEC producers.

Fatih Birol, Head of the IEAs...