NEWS
Multinational - May 07, 2020
Oil was up on Thursday morning in Asia, clawing back a small part of its losses from the previous session.
Brent oil futures inched up 0.81% to $29.95 by 9:22 PM ET…
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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 - May 06, 2020
Oil was down on Wednesday morning in Asia, losing some of its gains from the previous session.
Brent oil futures seesawed between gains and losses and was up a…
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NEWS
Multinational - May 05, 2020
Oil was up on Tuesday morning in Asia, building on its gains from the previous session.
Brent oil futures rose 1.40% to $28.23 by 9:43 PM ET (2:43 AM GMT) and WTI…
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Interview
Abu Dhabi - May 04, 2020
Jaafar Altaie, managing director of Manaar Energy, talks to The Energy Year about what it will take for companies to survive the Covid-19 crisis and the role that data…
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NEWS
Multinational - May 04, 2020
Oil was down on Monday morning in Asia, unable to hold onto its gains from the previous session.
Brent oil futures lost 3.57% to $25.66 by 9:50 PM ET (2:50 AM GMT)…
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NEWS
Multinational - May 01, 2020
Oil markets edged higher on Friday, as OPEC and its allies began a record output cut. However, the gains are tentative amid worries about the potential of another trade…
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NEWS
Multinational - April 29, 2020
Oil was up on Wednesday morning in Asia after the American Petroleum Institute (API) estimated an almost 10-million-barrel build in crude oil inventories for the week…
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NEWS
Multinational - April 28, 2020
Oil continued its drop on Tuesday morning in Asia even as it clawed back its losses from the previous session.
Brent oil futures fell 2.22% to $22.51 by 9:48 PM ET…
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NEWS
Multinational - April 27, 2020
Oil fell on Monday morning in Asia, giving up its gains from the previous session.
Brent oil futures fell 2.18% to $24.27 by 9:45 PM ET (2:45 AM GMT) and WTI futures…
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