: World oll prices are set for gnother increase next month ‘: when ministera of the * 1880, By ERIC HAMOVITCH MONTREAL (CP) Venezuela says its heavy oil reserves can produce as much high-qu crude as all the world’s liquid petroleum — and at lesa current world oll prices. The Venezuelan state oil company, Petroleos de Venezuela, says in & paper to be presented at a United Natlons ehergy conference opening here today’ that reculis of drilling in Orinoco oll belt polnt to recoverable reserves of at By YOUSSEF AZMEH LONDON (Reuter) Eaeorling Co of Petroleum Ez Lmitles meat Veneruela to decide what their countries will charge in The conference will be in- - fluenced by two key factors RIYADH (AP) — Saudl Arabia's finance minister in- dicated that his government doesn’t plan to cut oil duction in the immediate ure but sald no decision "has been made on production next year, Finance Minister Muhammad Abalkhail said - Power on the MONTREAL (CP) - Power Corp, of Canada Ltd. : is preparing to invest up to : $500 million in the United States or Western Canada, says company chairman Paul Desmarais. The giant holding com- y is interested in the "pan * “financial services” sector Steamship Lines, Con- _ lf the Saudis do not keep broken by a number of the in the U.S. and natural solidated-Bathuret Ltd. ‘current production levels, members, and experta _ Tesources — especially Great-West Life Assurance Miller has said previoualy, It predict an increnae of $2 to $4 _ petroleum — in Western Co. and Montreal Trust Co. might prompt a world oll a barrel. MONDAY § p.m. to midnight KING CcFIK BCTV KCTS CBUFT 2 (NBC) 3 (cece) (cTV) 9 (PBS) | 1 ar Ce Ltr Ske a ot wo nt ht las ce PP at ae Carol serena! oe om] Happy rae —— Six . | ANster La Femme :15 | Burnett Days Million Rogers Blonique 730 | News Hourglass Dollar Electric Cont'd 745 -E Cont'd Cont'd Man Company Cont'd 100 | Cont'd C.H.LP.s. 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Petroteum industry sources say major In- ternational oil companies, their eupplies systematically eroded by production cute in oll-producing states, are he sees no reagon to reduce production soon after U.S. Treasury Secretary Willlam Miller appealed to him and Ol Minister Ahmad Zaki Yamani to maintain the current peak output of 6.5 million barrels a day to help avold another world shor- ge. move again Canada, Desmarais gaid in 9 recent Interview published in La Fresse, a French- language daily newspaper he owns. He gave no specifics. Desmarais controls 73 per cent of shares in Power Corp., which in turn controls assets of $3 billlon in com- panies including Canada U.S, a barrel, The cil would have to be processed at a cont of FS) tp $5 a barrel to gf it to the same quality as Hght crude, making the total cost between $5 and $13 a barrel, : At current world prices, ofl sold under long-term con- tract fetches $19 to $23 a barrel, and on the spot market sometimes twice thet much. “The Orinoco oll belt Is probably the largest essentially untapped oil accumulation In the world,”’ preparing for increases of up to 35 per cent in the average OPEC price. It now is estimated at about $22 a barrel. But sources closa to OPEC say that although a $80 price may emerge from the Caracas conference due to open Dec, 17 ls result is Unpredictable. The only certainty is that Miller, on a viait to Saud! Arabia, Abu Dhabi and Kuwait, also asked the Saudis to help hold to a minimum the next price Increase by the Organization of Petroleum Exporting Countries, Hesald the Saudis are studying his requests, and “I think we must all await their decialon.”’ While Saudi officials are ex to keep current production levels throughout the end of this year, they are known to be divided on whether to extend those levels Into 1980. The United States receives about 24 per cent of its total oll imports from Saud! Arabia. the Venezuelan paper spys, Estimates of how much can be economically recovered yary tremendously but “something of the order of $00 billion barrels (is) a reallgtic planning figure for the time being.” Joseph Barnea, a UN energy adviser and scientific secretary of the conference, said in an interview that the per “is very important cause as far as I know it is the first estimate of recoverable ail in the Orinoco belt,’ there will be a price in- Crease. Venezuelan oil minister Humberto Calderon Berti, expected to become the.new president of the cartel, says a majority of OPEC's 13 members favor abandoning thelr new syslem of price movements within a wide band for a return to a uniform price. Saudis divided on production level shortage that might send oil prices skyrocketing again. The Saudia ralsed their output a day to #5 million barrela from 6.5 million during the summer at the request of President Carter to offset the reduction in Iranian oll output because of the upheaval following the revolution that ‘overthrew Shah Mohammad Reza Pahlavi. Miller appealed to the Saudis to moderate the new increase in oll prices ex- pected when OPEC meets in Caracas, Venezuela, on Dec. 17 to decide how much to raise the current $23,80-a- barrel ceiling on its base price for crude oll, The celllng has already been But Barnea eald he ex- pects Venezuela would move slowly in exploiting its reserves because of the enormous capital costs in- valved, As well, Venezuela Ls already a big oil exporter and doea not want to wn- dermine world prices, he added. The Venezuelan heavy oll is Iighter than the Athabasca tar sands in Western Canada but heavier than con: ventional light crude, It is a siicky substance that does Oil meet to decide price increase An $18 floor and a $23.50 ceiling for pricea were set flye months ago at the lagt OPEC conference in Geneva in a bid to regulate chaotle market condittons. Last December, before the Islamie revolution in, Iran, OPEC had agreed to orderly, smal] price rises which wouldhave lifted the marker once every three months to a _ total of 15 per cent for 1979, Then, with the ahah's over- throw early this year, the settlement of last June meant an average rise of about 60 per cent from the previous December, ; Since then, continuing supply unicertainties have Bhot pricea up stl] more, with the June ceiling already punctured by at least three cartel members. Militancy in Iran and the atlack by a Moslem fringe group on the religion’s holiest shrine at Mecca have increased feare for future oll supplies, oil industry sources say, These factors also are hae the demand for oil Saudi Arabia’soll industry does not appear to have been affected by the Mecca in- . cident. But doubis persist about Saudi willingness to maintain oil production at its present §.5 million barrels daily — one million above its ceiling, the sources say. Tran, which extracted about alx million barrels a day wnder the shah, produced 3.7 million during the third quarter of this year, This might have decilned agaln to less than three million since then, the Sources SAY: 2 Part of thé-decline can be altributed to the ban on oll exports to the United States, which took 700,000 barrels 4 day from Iran, In addition to these doubts concerning 1.7 million barrela a day of OPEC's total production of about 31 million barrels, at least four other carte] states are planning production cuts in 1980 which might mean the loss of another mililon - barrels dally, the sources report. Those states are Kuwait, the United Arab Emirates, Algeria and Libya. not flow eaally, and jela of hot steam have to be blown =, into the deposits to extract them, The processing would yield byproducts such as vanadium, nickel and sulphur. The two-week conference, organized by the United Nations Institute on Training and- Research, is to hear participants speak about 40 types of energy, ranging from fuel wood and nuclear fusion to wind power and the hot magma bubbling under’ the earth's crust. - ISRAEL RETURNS OIL TO EGYPT TEL AVIV (AP) — Israel has returned the Alma oilfield in the Gulf of Suez to Egypt, giving ita former enemy its only substantial petroteum source and rayne greatest financial p of the two countries’ peace treaty. The oilfield, returned Sunday along with 1,584 square kilometres of desert inhabited by about 2,500 Bedouin tribesmen, was discovered and developed by Israel after it captured the Sinai in the 1967 Middle East war. As part of the deal, Egypt agreed to sell Israel. about 16 million barrela of ‘bil annually, equal to the output of the 12 wells at Alma, or 25 per cent of Israel's yearly consumption. The United States has guaranteed years. _ The exact price Israel ‘will pay for the oll has not been made public, Egyptian President Anwar Sadat has cited the $23.50 price a barrel set by the Organization of Petroleum Exporting Countries, but other Egypuan officials have said the price of Egyptian oil sold to other countries is higher and that Israel will not get preferential treatment. A source in the ‘government of Israeli Prime.-Minister ; Men- “achert Begin ‘satd there will be a ‘‘special price’ for the first year, with later prices to be set by Egypt's normal auctlon of its oll for export, Israel gave up control of the Mount Sinai area Nov. 15 in the fourth phase of a olx-part pullout that will leave Egypt with control of two-thirds of the peninsula by Jan, 25, Egypt is to regain all of the Sinai by 1962 under terms of the treaty, which was signed last March in * NEWS BRIEFS Israel off supplies for 15f ‘of 20/818 Washington. va MA naturally. BY APPOINTMENT ONLY When you decide - to lose weight... Call Diet Center! Our program of sound nutrition and private, daily counseling will help you lose those excess pounds quickly and ~ LOSE 17 TO 25 POUNDS IN JUST 6 WEEKS! AND WE'LL TEACH YOU HOW TO WEEP tT OFF! os it THE LOS, 695-3832 ISTANBUL (AP) — The Turkish government has mixed feellngs about this week's vielt of Pope John Paul, It hopes it will help tourlam: but fears adverse reaction from militant Moaleme. The Turks are pleased be- cause the three-day papal visit beginning Wednesday will focus foreign altentlon on such tourist attractions ag Istanbul, Izmir and Ephesus, all on the papal itinerary. But official sources said the current unrest in the Islamic world Is likely to put restrainta on the Turkiah government's official welcome for the Pope. “We will receive him cor- dially in accordance with international practices,’ said one official in Ankara, the capital. But he said he knows of no plan. to “mobilize the people” to line the streets for the papal motoreades. An editorial Sunday in ‘Turkey's largest newspaper Hurrlyet of Ankara, said the “timing of this visit is wrong for Turkey because it comes at a Ume when Moslem- Christlan differences are provoked, particularly by the eventa la Iran.'” Oktay Eksi, - the newspaper’s chlef editorial writer, noted that thé chief purpose of the visit ja to pursue the reunification of Roman Catholicism and the Eastern Orthodox Church, But he said the Pope should take special care not to in- jure the sensitivities of this predominantly Moslem nation. . Sweden considers Canada OTTAWA (CP) — Swedish investors are taking a hard look at Western Canada, especially Alberta, as an area worthy of their at- tention, says the Swediah ambassador to Canada. In an interview on the eve of an annual conference of the 75 Swedish corporations now operating in Canada, Ambassador Per Anger said Sunday “there are those in Sweden who are looking at Alberta” as an area of excellent business opportunity. He said most Swedish in- veatment now is located in Toronto and Montreal — although the greatest single amount involves the Volva automotive plant in Halifax, He said the 75 companies employ about 6,000 people here and account for about $59 million a year exports. Anger said none cf the in- yestment foreseen in the West would affect in- vestments already in place in Eastern Canada, ading thal agreements are evolving from a vielt to Alberta last year by representatives of 12 Swedish firms, mainly engi- neering industries, ‘ Altending the conference untl] Wednesday when they leave for a week-long tour of the U.S. are Prince Bertil and Princess Lilian of Sweden. Soviets supply chemicals WASHINGTON (AP) — U.S. intelligence. officials strongly suspect that the Soviet.’ Union '.*provided:. cherniagl:.. ;weapons. they believe were used against Laotian tribesman resisting communist Pathet Lao and Vietnamese forces. These officiala, asking to reviain anonymous, sald a team of Soviet chemical warfare specialists was detected earlier this year in western Laos, scene of reported poison gas attacks on H'Mong hill tribesman who ‘have never accepted: a. Communist vic » Ap Lack. “We'll probably never” be" able to come up with con- clusive evidence, but we have high suspicion that the Rusalans provided the chemical agents,” one offi- cla] said, AUS. Army investigating aroup, including several doctors, concluded that at least two and’ perhaps three different-chemicals were vaed against the tribeamen —anerve agent, a substance thet caused bleeding and probably a riot-contral gas, The army investigators based their report on medical symptoms and other signa described by 43 wibesmen they Interviewed last month at three refugee campe in northern Thailand. The tribeamen estimated 700 to 1,000 people died and at many. more were ‘alckenod aca zbaull,.of a - at “hicks by plants‘ Yockéts, The Sovie Union, Viet- nam’s main supplier of weapons and other military equipment, has an active chemical warfare program in its armed forces, U.S. officials said, Quebekers moving West TORONTO (CP) — A total ebecers moved to ° Ontarlo in the one-year period which ended last June, the Ontario ministry of intergoyvernmental affairs Baid today. Tn the same period, 22,206 Ontarlo residents moved to Alberla while 11,706 persons moved to Quebec from Ontario and 10,677 came to Ontario from Alberta. Statistles Canada figures have shown that Quebec emigration has gone up 33 per cent since the election of the Parti Quebecois in 1976, with more than half of these moving to Ontario. The latest provincial figures show 15,188 persons moved to Ontarlo from Nova Scotia, New Brunswick, Newfoundland and Prince Edward Island. There were 14,000 persons who left On- tarlo to settle in the Atlante provinces. In addition, 14,439 Ontario residents moved to British Columbia while 8,484 moved to Ontario from B.C. -Ontario lost 9,-168 persons to Manitoba and Saskatchewan but got back 9,821. The Yukon and Northwest Territorles attracted the fewest Ontario migrants, 656, but 937 moved to Ontario from those territories. A matter of will power VANCOUVER (CP) — A deputy director of the In- ternallonal Monetary Fund says the obvious solution to Inflation is development of a widespread national will to deal with the problem, Dr. John Yeung sald during a lecture at the University of British Columbia that countries like Switzerland, West Germany and Japan have proven that social discipline makes the task of arresting inflation relatively easy. Instead of tearing up credit carda or asking for lower wages, ordinary eltlzens worrled about in- flation should express thelr conser to politicians, Young In countries where citizens strongly support economic restraint, politicians with a "relaxed view about in- flauonary measures have short political lives while those with a reputation for prudence an caution froaper at the polls," He aald the current in- flation problem has no parallel in the last 700 or 800 years and, a6.4 result of thet, there is a sense that “‘in- flation as rapid and aa persistent as this one lea problem without precedent,’’ Young, a former dean of arts at University of B.C., ia deputy directof of the African department of th Second shooting seen UNION CITY, NJ, (AP) Federal and focal - Bulhorities are investigating the second fatal shooting of a member of a group that negotiated last year for the release of political prisonera in Cuba. Eulalio Negrin, 37, was shot to death Sunday as his son looked on in this predominantly Cuban community, police said, Negrin was shot five times with a semi-automatic weapon as he opened his car door, said Sgt, Victor Sismondo of the Union City Police department, He was the second member of the Committee of 75 lo be kilied this year. The committee went to Cuba last year to negotlate the prisoner release with Cuban President Fidel Castro, ~ The Associated Press re- ceived a telephone call Sunday from a man who sald he was a member of Omega 7 and claimed responsibility for the shooting. “We will contlnue with these executions untill we have eliminated ali of the traltors living in this country,” the man said.