US embassy cable - 05KUWAIT3870

UNCLAS KUWAIT 003870 
 
SIPDIS 
 
SENSITIVE 
 
LONDON FOR TSOU 
DEPARTMENT OF ENERGY FOR IE, MWILLIAMSON 
EB/ESC/IEC FOR GALLOGLY, DOWDY 
 
E.O. 12958: N/A 
TAGS: ENRG, EPET, ECON, KU, OIL SECTOR 
SUBJECT: OPEC PRESIDENT EXPRESSES "CONCERN OVER HIGH OIL 
PRICES"; MIN ENERGY U/S TO VISIT U.S. 
 
REF: KUWAIT 3173 
 
This cable is sensitive but unclassified; please protect 
accordingly.  Not for Internet distribution. 
 
1.  (U) Kuwait's Minister of Energy and current OPEC 
President Shaykh Ahmad Fahd Al-Ahmad Al-Sabah said in a 
statement released August 28 that OPEC would "explore options 
to reduce prices" at the September OPEC meeting in Vienna. 
"We are becoming increasingly concerned at the continuing 
high level of oil prices, which does not properly reflect the 
underlying fundamentals of the market," he said.  He 
continued, "oil resources and supplies are plentiful and OPEC 
has been producing more than the total OPEC quota by 1.5 
million bpd in the third quarter of 2005." 
 
2.  (SBU) Ministry of Energy Undersecretary for Oil, Mr. Issa 
Al-Own, is planning to visit the U.S. and is planning on 
meeting with Department of Energy counterparts.  He told Econ 
Officer that he is planning on leaving for London September 
19, then arriving in Houston on September 24.  He will be 
taking part in a conference in Houston for about ten days, 
and plans on arriving in Washington around October 7.  He 
envisions being available for meetings in Washington Oct. 
8-10.  He would like to have these meetings to further the 
energy dialogue and cooperation between Kuwait and the U.S., 
and to discuss the "Strategic Studies Center" described in 
para 4-5 of reftel.  Further details on this trip will be 
available when the Undersecretary returns from vacation on 
September 12.  (Comment:  U/S Al-Own is second-in-command to 
the Minister and is intimately familiar with all aspects of 
Kuwait's oil industry.  He is an excellent contact for the 
Embassy on all energy issues and we encourage a good set of 
meetings at DoE and State (EB) for the Undersecretary during 
his visit.  End Comment.) 
 
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