Algiers (Platts)--2Dec2008

OPEC's President Chakib Khelil said Tuesday he saw no reason why Russia
could not become a full member of the oil exporters' group, adding that Russia
has "a lot to lose" if oil prices continue to fall.

"I don't see why Russia cannot become a member of OPEC," Khelil, who is
also Algeria's oil minister, said on the sidelines of a conference in Algeria.

Russia, the biggest non-OPEC producer, has said it is keen to expand its
ties with OPEC.

Russian energy minister Sergei Shmatko, who will participate in OPEC's
December meeting in Oran, Algeria, as an observer, said in November he did not
rule out a production cut by Moscow in concert with OPEC.

Khelil added that Russia is also deeply affected by the recent fall in
oil prices.

"They have the same objective--to keep prices stable," he said. "They
have a lot to lose if prices continue to tumble."

"What we would like is that they become full members [of OPEC]," he said.
"If they have a problem with that, they should just cut production. We don't
need an agreement to create solidarity with those that have the same objective
as us."