NEWS
Multinational - June 03, 2020
Oil was up on Wednesday morning in Asia, holding onto its gains from the previous session as well as hitting a three-month high, after the American Petroleum Institute…
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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
Nigeria - June 02, 2020
Nigeria’s Department of Petroleum Resources (DPR) announced the launch of its first marginal field bid round in 18 years on June 01, 2020 with 57 land, swamp and…
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NEWS
Multinational - June 02, 2020
Oil was mixed on Tuesday morning in Asia, with caution over mounting US-China tensions mingling with optimism over the possibility of an extension of OPEC production…
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NEWS
Multinational - June 01, 2020
Oil was down on Monday morning in Asia, giving up the gains from the previous session.
Brent oil futures dropped 0.55% to $37.63 by 10:10 PM ET (3:10 AM GMT) and WTI…
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NEWS
Multinational - May 29, 2020
Oil was down on Friday morning in Asia, giving up some of its gains from the previous session.
Brent oil futures were down 0.78% to $35.77 by 9:40 PM ET (2:40 AM…
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NEWS
Multinational - May 28, 2020
Oil was mixed on Thursday morning in Asia, with the black liquid clawing back some losses during the previous session.
US-China tensions heated up overnight as US…
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NEWS
Multinational - May 26, 2020
Oil was up on Tuesday morning in Asia with Russian expectations of a rebalancing of the market by June or July.
Russia is one of the top oil producers in the…
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NEWS
Multinational - May 22, 2020
Oil dipped on Friday morning in Asia, giving up its earlier gains after China failed to set its annual economic growth target.
Brent oil futures dropped 3.97% to…
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NEWS
Multinational - May 21, 2020
Oil was up on Thursday morning in Asia, continuing its gains from the previous session.
Brent oil futures gained 0.59% to $36.01 by 9:34 PM ET (2:34 AM GMT) and WTI…
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