THE WORLD'S MAJOR PETROLEUM PRODUCING COUNTRIES HAVE BEEN UP FOR HIGHER STAKE LUCRATIVE DEALS IN THE ATTEMPTS TO CONTROL PRODUCTION AND STOP THE CONSTANT DECLINE IN CRUDE OIL PRICE.

     Petroleum producing countries have been up for higher stake lucrative deals by repeated attempts to control production and stop the constant decline in crude oil revenue, after frustrating less performance in cash flow income in the fourth business quarter of this Year, due to the frequent decline in crude oil prices per barrel that has further fluctuated downward to fourty dollars in the domestic and International markets. Few of the World's major producing nations that entailed the USA Russia Saudi Arabia Iran Kuwait Qatar the United Arab Emirates Nigeria and Venezuela have requested reconvention of the major crude oil producing countries with the support of the Organization of petroleum producing countries OPEC to reschedule the Convention of the mentioned World's major oil producing countries, before the end of this Year and in the next Year for the required discussion on the related issues to petroleum production with the investigation on the cause of constant decline in petroleum price per barrel in the domestic and International markets, despite claims of the media sources and the neighboring World's major producing countries about over production and delivery of petroleum in the International markets by few of the mentioned countries, specially by Iran that has been said to have increased oil production to compensate for petroleum income losses during the intensified sanction against Iran that has been recently relaxed by both the USA and the European Union Countries, after Iran accepted to comply with the None Nuclear Proliferation Treaty conditions and reduce the quantity of enriched Uranium to the level needed to efficiently operate Iran's Nuclear Reactors for the generation of electric power to meet the country's ever increasing high demand for electric energy consumption, specially in Tehran the capital city of Iran and other equally major cities of Iran with the towns and villages that have continued to enjoy electric power supply for decades, despite the sanction that had been imposed against Iran, due to Iran's government defiance and internal resistance to comply with the World's Body regulations against its ambition for nuclear technology which Iran insisted has been and will remain for the generation of electric power only and not for the enrichment of Uranium for the production of long range missiles armed with nuclear war heads, or the World's major strategic defense weapon the atomic bomb. Another major concern of the World's major oil producing countries has been the recent wide range implementation of Climate Change and Environmental Protection measures, specially in the European Union Countries and Western Europe by the gradual change of the governments' unified energy policy with the shift from the hazardous and polluting energy sources to the Environment friendly and renewable energy sources that entailed the Wind the Solar the Hydro Electric the Biomass and the Geothermal energy sources. Besides, the Western European Governments attempts to reduce emission percentage rates in their cities towns and villages and probably save the World by constant reduction, or elimination of the mentioned hazardous and polluting energy sources, specially the combustible forms of fossil fuel energy sources such as petroleum coal gases and other forms of hydrocarbons.


                                                  Written by Professor Godfrey Ohia.


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