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CONFIDENTIAL
THE LORD PRIVY SEAL'S WORKING LUNCH WITH MR SONODA, 22 MAY
SUPPLEMENTARY SPEAKING NOTES
Energy
1.
The short term outlook for production and prices is bleak, although the resumption of Iranian oil exports from 5 March
But even if the Iranians are able or willing
was welcome.
to maintain production at between 3.5 and 4 mbd, available OPEC
supply will still not be sufficient to meet demand. Do the Japanese think there will be enough to tide us over next winter?
2.
The latest announcement by the Iranians of a further 60c
It may encourage other OPEC
Reports that Iran may reduce the
a barrel increase is disturbing.
producers to follow suit.
volume of supplies already agreed with the oil companies are
particularly worrying.
on this?
Do the Japanese have any information
3. We have not yet had detailed reports of the IEA Ministerial Meeting: what are your impressions? We hope that the Ministerial communique will call for the full and rapid implementation of the
IEA's agreed measures of demand restraint.
I
4. Energy is clearly going to be a central theme at the Tokyo Economic Summit. We are very grateful for your officials
excellent preparatory work on energy issues.
We look forward
to the report of the Energy Working Group meeting in Paris tomorrow
to discuss your officials' draft action programme.
Iran Internal Developments
5. Iran has a dual government Khomeini and his Committees
and Bazargan's Cabinet.
There is 'no immediate prospect of
stability and economic recovery will be slow.
intervene effectively to stop the executions.
revolution has not yet run its course.
We cannot
The
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16.
No comments yet.
Private notes are available after approval.