No link between world food crisis and oil prices: OPEC chairman says

Algerian Energy and Mines minister, current OPEC chairman, Chakib Khellil Monday laid the blame on oil consuming countries that spread speculations aiming at linking the oil skyrocketing prices to the world food crisis, denying on the occasion any correlation between the two.

• Talking at the executive council of the Arab Union of Energy and Mines Workers, Khellil said the OPEC “outlines a medium and long term strategy proven in the various investments undertaken by the members, not only in exploration and production but also in increasing supply”.
• The minister added that the organization has the capacity to “cover oil demand and face any supply shortage”.
• He also reminded that both projects “MEDGAZ” linking Algeria to Spain and “GALCI” linking Algeria to Italy respectively operational in 2009 and 2012 will increase the Algerian export capacity to reach 85 billion cubic meteres .