Schroeder calls for transparency in oil prices

28th September 2004, Comments 0 comments

28 September 2004 , OSLO - The world's leading industrialised countries of the G8 group should help promote more transparency on oil and gas prices, German Chancellor Gerhard Schroeder said Tuesday as energy prices hit record highs. Schroeder's remarks were made during a one-day visit to Norway, a leading oil and gas exporter.

28 September 2004

OSLO - The world's leading industrialised countries of the G8 group should help promote more transparency on oil and gas prices, German Chancellor Gerhard Schroeder said Tuesday as energy prices hit record highs.

Schroeder's remarks were made during a one-day visit to Norway, a leading oil and gas exporter.

His comments came as oil prices hit a record high of USD 50 a barrell on concerns about supply.

Although higher prices were fuelled by demand, other factors including speculation also came into play that negatively affected consumers and producers, Schroeder said.

The G8 groups Britain, Canada, France, Germany, Italy, Japan, Russia, and the United States. In addition, the European Union participates at summits.

During talks with Prime Minister Kjell Magne Bondevik, Schroeder said he welcomed closer energy cooperation between the two countries.

Schroeder also commended Norway's cooperation with the EU even though the Scandinavian country is not a member of the bloc.

"Personally I would welcome this great country into the EU but it up to country's own citizens to decide on whether they want to join the union or not," Schroeder said.

Norwegians have in two referendums rejected joining the bloc.

[Copyright DPA with Expatica]

Subject: German news

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