Claude Mandil Quotations

What we decided was in response to a shortage caused by Hurricane Katrina, in a situation where there was lack of spare capacity, which is much more difficult to offset without the reserve release. The prices are a signal, but not the basis for us to decide. We are convinced that they have hurt the economy since last year.

On the refining side we need regulations to be predictable.

But governments can't do everything at the same time, as they won't have enough money left for research and development.

If any supply disruption occurs again we can make a speedy decision,

I would not say that they, OPEC, are responsible for all of it. We consumer countries are in responsible in part,

Rita was better than expected, but no survey has been made on the platforms,

My proposal, if it were made today, would be to stay with the present decision so far -- and of course to let it work.

Maybe in 15 days we will see that the recovery in the U.S. has been better than expected. But maybe ... we will need to extend or even increase the stock draw.

There is insufficient capacity there and there is a problem with conversion capacity.

The IEA member countries will exercise flexibility in re-establishing their emergency stock levels through 2006, noting the need to take into account seasonal demand and the possibility of higher than expected refinery maintenance.

I can tell the negotiators, please, when you consider all the options, do not be constrained by the risk of an oil embargo on Iranian oil.

The market is perfectly well supplied at the moment but spare capacity is very limited.

[The report 'World Energy Outlook 2006'] reveals that the energy future we are facing today, based on projections of current trends, is dirty, insecure and expensive.

We must change these outcomes and get the planet onto a sustainable energy path.

We have 4 billion barrels in strategic stocks.

We will see whether there is a need to extend the decision and release more stocks or if the market can work alone, ... ...We would prefer for the market to work alone.

We have demonstrated that we were able to decide at very short notice. We do not know a lot about Rita, whether it will make damage or not.

Both have decided to build strategic stocks and we hope to reach an agreement on coordination.

The review was needed anyway as there are four refineries still shut. But on the other hand, the market has reacted well to Katrina, with flexibility.

The risk of an embargo on Iranian oil ... is not a constraint.

It would be difficult to understand if there was a cut.

Prices today are much too high, even at $50.

(Prices) should be lower for lots of reasons this year. ...I'm not sure that will happen.

A large proportion of the remainder will be (refined) products ... we have suggested they prioritize products,

It's a marvelous time for all the funds who want to invest.

If there was supply disruption either created by Nigeria, Iran or both, that would lead, no doubt about that, to a stock release from the IEA countries.

If there was supply disruption, either created by Nigeria, Iran or both, that would lead, no doubt about that, to a stock release from the IEA countries.

This is likely to continue as demand for power grows mainly in the developing economies. But coal must remain competitively priced, especially as pollution abatement costs increase as carbon emission plans increase,

The impact of hurricanes Katrina and Rita has been successfully addressed.

The market will remain tight in the next three years. Upstream and downstream capacity is not enough.