OPEC To Launch Research Center Of Its Own

Speaking of research, the World Tribune claims that OPEC plans on launching a research institute for the purposes of improving oil extraction and recovery.

"Our competitors, the alternative energy providers, are intensively pursuing research programs aimed at reducing the domination of oil and gas in the global energy market," Abdullah Salatt, Qatar's representative to OPEC, said. "Likewise, we should have our own independent programs." The R&D institute would be located in Kuwait and stemmed from a decision in 2001, Middle East Newsline reported. Officials said the institute would seek to develop technology that would ensure the fulfillment of demand by OPEC clients.

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OPEC states have obtained a study carried out by the Oxford Institute for Energy Studies regarding the requirements of such an R&D center, officials said. They said the institute would not seek to replace oil exploration and development research by individual OPEC members.