Interview
Oman - April 21, 2020
The Energy Year talks to Said Al Maskery, director at Composite Pipes Industry (CPI), about the overall industry sentiment in Oman following the Covid-19 restrictions…
READ MORE
BACK TOCOMPANIES
OPEC
H.E. Mohammad Sanusi BARKINDO
Secretary General
OPEC
OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement.
Read The Full Interview
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.
READ MORE
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…
READ MORE
Interview
Kuwait - August 01, 2024
Anar Aliyev of bp talks about bp’s long-standing commitment to Kuwait’s hydrocarbons sector.
READ MORE
Partnered Event
Azerbaijan - June 4-6, 2024
The Baku Energy Week encompasses three prestigious events: the 29th International Caspian Oil and Gas Exhibition - Caspian…
READ MORE
NEWS
Multinational - April 21, 2020
Oil prices were up on Tuesday morning as investors pick up the pieces after a shock session that saw negative prices on a futures contract for the first time since…
READ MORE
NEWS
Multinational - April 20, 2020
Oil continued to slide from the previous session on Monday in Asia as producers continue to grapple with a supply glut.
International Brent oil futures dropped 1% to…
READ MORE
NEWS
Multinational - April 17, 2020
Oil prices were up in Asia on Friday as Russia and Saudi Arabia hinted at further production cuts.
The two producers said overnight that they were open to further…
READ MORE
NEWS
Multinational - April 16, 2020
Oil prices were up in Asia on Thursday as they rallied from a drop to their lowest levels in 18 years during the previous session. International Brent oil futures slid…
READ MORE
NEWS
Multinational - April 15, 2020
Oil prices were mixed on Wednesday morning as investors were unconvinced that Sunday’s OPEC+ production cuts could resolve an inevitable supply glut.
“With…
READ MORE
NEWS
Multinational - April 14, 2020
Oil prices were up in Asia on Tuesday as an emergency OPEC+ meeting finalized a 9.7 million-barrel cut in daily production on Sunday, the largest in its…
READ MORE
NEWS
Multinational - April 09, 2020
Oil markets surged Thursday, with investors becoming increasingly confident that the world’s main oil producers will agree to a hefty cut in output to try and balance a…
READ MORE
NEWS
Multinational - April 09, 2020
Oil prices built on the momentum from the previous session as the price war between Russia and Saudi Arabia seems to be nearing a truce.
Russia said overnight that…
READ MORE
