Commodity Corner

Views on commodities and energy

There’s room at the OPEC inn, but only for a price

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One of the many traditions of the Organization of the Petroleum Exporting Countries is that the holder of the group’s rotating presidency should host one of the group’s policy-setting meetings, typically the last of the year.
While regular conferences at OPEC’s Vienna home are a relatively straightforward affair, taking the group offsite has a tendency to generate major logistical challenges.
Last year, the highest hurdle for journalists attending an Algerian-hosted meeting in Oran was getting a visa to travel there.
This year, a big theme of the Angolan conference taking place on Tuesday in Luanda has been where to stay in a capital of scarce and exorbitantly-priced hotels.
Some of the journalists have resorted to sharing rooms in guest houses, far from the action, meaning a long crawl through the city’s traffic jams before they can get any access to the story they have already flown thousands of miles to cover.
The ministers meanwhile are staying in Luanda’s most opulent and very newest hotel, the Hotel de Convencoes de Talatona, where the biggest concern is that the paint is not yet dry.
It was inaugurated on Friday, just in time to accommodate the ministers in return for some serious petrodollars. Prices range from $600 for a standard single room to $5,000 a night for the presidential suite or $3,500 for one of the hotel’s luxury villas. Across the road, many Angolans live in shacks they have built themselves.