"As we see that OPEC has a capability to increase its production by 500,000 b/d, we will propose OPEC to boost its output by 500,000 b/d on the condition that the high oil price is currently driven by fundamental factors, such as supply and demand."
Indonesia plans to propose at OPEC's February 1 meeting in Vienna that the group raise its combined crude production by 500,000 b/d, Indonesia's OPEC governor Maizar Rahman said Friday.

"The issue of the Niger Delta is a worrisome one. I think for the Niger Delta question, what we need to do is to declare it a disaster area and then pay undiluted attention to the development of the place."
The Nigerian Senate is to declare the southern lawless Niger Delta a disaster zone, the Senate's deputy president, Ike Ekweremadu, was quoted as saying in the Guardian Friday. This is part of its efforts to help the government find a solution to the under-development of a region marked by poverty despite vast oil wealth.

Updated: January 4, 2008