NEWS
Multinational - January 13, 2020
Oil prices slipped on Monday in Asia amid easing US-Iran tensions.
The US Crude Oil WTI Futures was unchanged at $59.04 by 12:45 AM ET (04:45 GMT). Last week, the…
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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 - January 07, 2020
Oil prices retreated on Tuesday in Asia despite continuing tension between the US and Iran.
US Crude Oil WTI Futures dropped 1.1% to $62.59 by 11:40 PM ET (03:40…
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NEWS
Multinational - December 31, 2019
Oil prices edged lower on the last day of 2019. But it remains on course for the biggest annual rise since 2016, supported by optimism for a US-China trade deal and…
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NEWS
Multinational - December 27, 2019
Oil prices reached three-month highs on Friday after record online shopping by US consumers drove optimism about the world’s biggest economy.
Brent crude futures…
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NEWS
Multinational - December 20, 2019
Oil prices stayed close to three-month highs on Friday as the China-US trade talks showed signs of progress.
Brent futures rose 2 cents, or 0.03%, to 66.56 a barrel…
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NEWS
Multinational - December 17, 2019
Oil prices traded near flat on Tuesday in Asia amid China’s lack of enthusiasm about the phase one deal announced by the Trump administration late last…
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NEWS
Multinational - December 13, 2019
Oil prices advanced on Friday in Asia as US President reportedly agreed to a partial deal with China to pause the trade war.
US Crude Oil WTI Futures rose 0.5% to…
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NEWS
Multinational - December 12, 2019
Oil prices traded higher on Thursday in Asia as the Organization of the Petroleum Exporting Countries (OPEC) revised its deficit forecast for next year.
US Crude…
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Interview
Russia - December 11, 2019
Nail Maganov, general director of Tatneft, talks to TOGY about how the company is boosting its oil production, its strength in tackling hard-to-recover reserves and its…
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