Interview
Multinational - June 29, 2020
Dr. Saud bin Abdulaziz Al Meshari, secretary-general of the Federation of GCC Chambers (FGCCC), talks to The Energy Year about the oil price shock’s impact on GCC…
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BACK TOCOMPANIES
OPEC
H.E. Mohammad Sanusi BARKINDO
Secretary General
OPEC
OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement.
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A fine balance
OPEC is an international organisation that was established in Baghdad in September 1960. Today it is headquartered in Vienna, Austria. It co-ordinates and unifies the petroleum policies of its members. OPEC sets production targets for its member nations and is an important factor affecting global oil prices. Iran is one of the five founding members of the organisation.
- Leadership: OPEC’s secretary-general is Haitham Al-Ghais a Kuwaiti oil official who is a veteran fo the industry.
- Members: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Republic of Congo, Saudi Arabia, the UAE, Venezuela
OPEC+, a designation that adds 10 non-OPEC members including Russia, reached a deal in September 2016 to cut approximately 1 million bopd of production. The deal was extended several times and deepened to 7.7 million bopd for August-December 2020.
Company website: www.opec.org
OPEC in figures
Years active as of 2020:60
Number of member states:13
OPEC features
Interview
Kuwait - August 13, 2024
H.E. Haitham Al Ghais of OPEC talks about adjusting oil supply to foster stability in global markets.
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Interview
Kuwait - August 08, 2024
Kuwaiti Minister of Oil H.E. Imad Al Atiqi talks about the pillars of the ministry’s 2024-2028 roadmap for Kuwait’s oil…
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Interview
Kuwait - August 01, 2024
Anar Aliyev of bp talks about bp’s long-standing commitment to Kuwait’s hydrocarbons sector.
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Partnered Event
Azerbaijan - June 4-6, 2024
The Baku Energy Week encompasses three prestigious events: the 29th International Caspian Oil and Gas Exhibition - Caspian…
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NEWS
Multinational - June 24, 2020
Oil was down on Wednesday morning in Asia, with investors digesting a second consecutive week of increases in the crude oil supply.
The American Petroleum Institute…
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Interview
Guyana - June 23, 2020
Ian Cloke, executive vice-president of Tullow Oil, talks to The Energy Year about the company’s African asset sales, how Covid-19 has impacted operations and the…
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Interview
Abu Dhabi - June 23, 2020
Neil O’Keeffe, energy, utilities and resources lead partner at PwC Middle East, talks to The Energy Year about how GCC states are positioned amid the Covid-19 and oil…
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NEWS
Multinational - June 22, 2020
Oil was up on Monday morning in Asia, starting the week off strong after investor sentiment was boosted by signs of tighter supplies.
Brent oil futures rose 1.26% to…
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NEWS
Multinational - June 19, 2020
Oil was up on Friday morning in Asia, finishing the week by adding to gains from the previous session.
Brent oil futures rose 0.51% to $41.72 by 10:11 PM ET (3:11 AM…
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NEWS
Multinational - June 18, 2020
Oil prices continued their retreat on Thursday morning, as investors continue to monitor China’s efforts to contain a new wave of cases in Beijing.
The world’s…
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NEWS
Multinational - June 17, 2020
Oil was down on Wednesday after the American Petroleum Institute (API) predicted a second consecutive week of increases in the crude oil supply.
API reported a 3.9…
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NEWS
Multinational - June 16, 2020
Oil was down on Tuesday morning in Asia, giving up some of its gains from the previous session over investor fears that the ever-increasing number of Covid-19 cases…
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