Mexico Submits Request To Join IEA
LONDON, Nov 16 (Reuters) - Mexico submitted on Monday a request to join the International Energy Agency as the energy policy adviser to industrialised countries seeks to expand its member base.
Mexican Secretary of Energy Pedro Joaquín Coldwell presented IEA Executive Director Fatih Birol with a letter requesting to join the organisation that currently includes 29 member countries, the IEA said in a statement.
"This presents an excellent opportunity for the IEA to strengthen its ties with Mexico, and opens the door to greater engagement across Latin America. It is a key step towards our objective of building a truly global international energy organisation," Birol said.
The Paris-based IEA was founded in 1974 in the wake of the 1973 oil shock in order to advise western economies on how to deal with supply disruption. The organisation has in recent years tried to expand and include developing economies, creating partnerships with countries including China, Brazil, India, Indonesia, South Africa and Thailand.
Mexico is the third-largest oil producer of the Organisation for Economic Co-operation and Development, according to the IEA.
Once the IEA's governing board approves the request, the IEA will work with Mexico on steps required to meet its conditions for membership, including the need to hold oil reserves eqiuvalent to 90 days of net imports.
(Reporting by Ron Bousso, editing by William Hardy)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- IEA Sees Oil Markets Tightening As Venezuelan Output Collapses (Jan 19)
- IEA: US To Account For Most World Oil Output Growth Over 10 Years (Nov 16)
- IEA: China's Crude Oil Buying Spree Looks Set To Continue (Oct 12)