"We decided that we will postpone our discussions on the new strategic partnership. This crisis means we have to re-examine our relationship with Russia."
The EU has frozen talks on a new partnership agreement with Russia until it withdraws its troops in Georgia to pre-August 7 positions, French president and current president of the EU, Nicolas Sarkozy, told reporters in Brussels after EU leaders met to discuss the Russia-Georgia crisis.
"The oil supply should be proportionate to the demand and control of excess supply is an issue which should be addressed at the upcoming OPEC meeting. Some OPEC members are providing the market with excess supply and producing more than their OPEC quota, therefore at the next meeting the members will request a stop to this excess supply."
Iran oil minister Gholamhossein Nozari said Tuesday his country will ask OPEC members to stick to their production targets when the group meets in Vienna on September 9, the official IRNA news agency reported.
"Production ramp up at each facility will vary, but complete Gulf of Mexico production ramp up may take three to five days. We plan to commence limited offshore personnel redeployments with minimum level crews to select assets that were out of the hurricane's final path in our West operations area Tuesday morning and to some assets in our East operations area Tuesday afternoon."
Shell has said that once power and all logistics are restored it would take between three and five days for its Gulf of Mexico platforms to reach pre-Gustav production levels, the company said in a statement.
Updated: September 2, 2008
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