Open

Coming up

Don't miss

Replay


LATEST SHOWS

FOCUS

Video: Milan is starting point for Syrian refugees’ European odyssey

Read more

WEB NEWS

Russian aid convoy: Mission accomplished?

Read more

WEB NEWS

Actor Orlando Jones lauches 'Bullet Bucket Challenge'

Read more

IN THE PAPERS

'Macron Economics'

Read more

BUSINESS DAILY

Macron-economics, the former banker turned minister

Read more

IN THE PAPERS

'The capital of sex, drugs, alcohol, trash and trashy tourism'

Read more

MEDIAWATCH

French government crisis: 'Krankreich' not Frankreich

Read more

DEBATE

Hollande's Last Chance: Can Weakened President Reform Without Left Flank? (part 2)

Read more

DEBATE

Hollande's Last Chance: Can Weakened President Reform Without Left Flank?

Read more

  • Video: Milan is starting point for Syrian refugees’ European odyssey

    Read more

  • France’s Hollande puts young ex-banker in top economy post

    Read more

  • Video: Iraq’s Yazidis flee to spiritual capital of Lalish

    Read more

  • Airstrikes and Assad - Obama’s military conundrum in Syria

    Read more

  • IMF’s Lagarde put under formal investigation in French corruption case

    Read more

  • American journalist held captive in Syria arrives in US

    Read more

  • In pictures: France’s new ministers

    Read more

  • 'Lasting' ceasefire agreed for Gaza, Abbas says

    Read more

  • Far-right ‘Russian Jihad’ fighters cross into Ukraine

    Read more

  • American 'Islamic State fighter' killed in Syria

    Read more

  • The ‘war’ at the heart of France’s ruling party

    Read more

  • Burger King to buy Canada's Tim Hortons for $11 billion

    Read more

  • Rebels 'shoot down' UN helicopter in South Sudan

    Read more

  • Air France pilots threaten September strike

    Read more

  • WHO seeks stricter regulation for e-cigarettes

    Read more

  • World’s ’most expensive’ apartment to go on sale in Monaco

    Read more

G8 will pressure OPEC to boost production

Latest update : 2008-06-08

Ministers of the G8 group, convening in Japan, said it is important to curb the rising price of crude oil and agreed to call on oil producing countries to increase oil production.


Energy ministers from the G8 member countries, plus China, India and South Korea, met on Sunday in Aomori, northern Japan to discuss issues, including global warming and soaring crude oil prices.

The three emerging Asian countries were invited to join for the first time to help find solutions.
  
The talks were opened in Aomori a day after United States and Asia's four largest powers voiced "serious concerns" that the global economy was under threat.
  
Japan's energy minister Akira Amari, who said Saturday that rising oil prices were "a major risk factor" for the world economy, was to chair the meeting.
  
Besides energy security, climate change will also be on the agenda for participating countries, which together release 65 percent of the carbon dioxide emissions blamed for global warming, and guzzle nearly two-thirds of the world energy.
  
Climate concern will be a priority when leaders of the G8 hold a major summit from July 7 to 9 in Japan's northern resort of Toyako.
  
The 11 nations are on Sunday also expected to discuss an initiative for international cooperation on energy saving and developing clean energy, including setting up energy-saving plans by individual countries.
  
Japan, Europe and the United States have been discussing creating a framework for exchanging information on energy-saving practices.
  
The weekend talks in Aomori, a hub of Japan's nuclear energy industry 600 kilometres (370 miles) north of Tokyo, came just after the single biggest one-day hike in oil prices.
  
Oil prices, which have soared five-fold since 2003, posted their highest ever one-day gain of 10.75 dollars to close at a new record of 138.54 dollars in New York after hawkish remarks by an Israeli official on oil producer Iran.
  

Date created : 2008-06-08

COMMENT(S)