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The Sudanese Minister of Mining and Energy, Awad Ahmed al-Jaz, on Monday welcomed as recognition of Sudan as an oil-producing country the decision by the Organisation of Petroleum Exporting Countries (OPEC) to grant Sudan observer status at its meetings. The 11-member cartel produces 40 percent of the world’s oil, and its production policy has a significant effect on oil prices. Al-Jaz said that much of Sudan’s oil reserves untapped and invited more companies to invest in exploration and production, according to news reports. OPEC, which is scheduled to meet on 27 September in Austria to decide if the world market situation requires an output adjustment, has also granted Egypt and Equatorial Guinea observer status, as it routinely gives other non-members of the cartel - including Angola, Oman, Mexico, Russia and Norway.
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