• Submitted by: manso
• international
• 10 / 16 / 2010

---

The Organization of Petroleum Exporting Countries (OPEC) announced on Friday its backing of the Yasuni ITT initiative, which looks for economic compensation from the international community in exchange for not exploiting 850 million barrels of crude in the Amazonia.

In his capacity as president pro tempore of OPEC, Ecuadorian Minister of Natural Non-Renewable Resources Wilson Pastor told the media in Vienna that he expects support from OPEC members for the project.

In the coming months, we expect that OPEC member states are able to support the initiative, once they are aware of the trusteeship, said Pastor in reference to the trusteeship on biodiversity reserve in Ishinpigo, Tambococha and Tiputini oil fields, in Yasuni Park.

Pastor used the gathering to propose a special meeting of ministers in Quito on December 11, where he expects to achieve economic support from the organization as a whole or from every member in particular.

"Though Germany is hesitant, there are countries like Chile and Spain that are giving full support," Pastor told the Andes public agency. "The invitation was accepted and it will constitute the end of celebrations for the 50th anniversary of the foundation of the group," he added.

In its official communiqué, OPEC also expressed its "full backing of President Rafael Correa and of the democratically-elected government of Ecuador and hopes sincerely that order and peace can prevail in this member country."

Source:PL