NEWS
Multinational - November 20, 2019
Oil prices steadied on Wednesday despite rising crude inventories and intensifying Sino-US trade tensions.
Crude Oil WTI Futures inched up 0.1% to $55.38 by 11:49 PM…
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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 - November 19, 2019
Oil prices fell on Tuesday in Asia amid more US-China trade jitters.
CNBC cited a Chinese government source and said that Beijing is not optimistic about prospects…
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NEWS
Multinational - November 12, 2019
Oil prices rebounded on Tuesday in Asia after falling in the previous session amid uncertainty over Sino-US trade progress.
US Crude Oil WTI Futures gained 0.3% to…
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NEWS
Multinational - November 11, 2019
Oil prices fell on Monday in Asia after US President Donald Trump said trade talks with China are moving along “very nicely,” but denied reports from last week that…
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NEWS
Multinational - November 08, 2019
Oil prices gave back some of their gains from earlier in the day after China said they are rolling back tariffs with the US.
Gao Feng, a spokesperson for China’s…
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NEWS
Multinational - November 07, 2019
Oil prices slipped on Thursday in Asia after the Energy Information Administration (EIA) reported that US oil inventories rose much more than market expected last…
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NEWS
Multinational - October 28, 2019
Oil prices fell on Monday in Asia despite positive Sino-U.S. trade developments.
The Office of the US Trade Representative (USTR) said on Friday that Beijing and…
READ MOREInterview
Kuwait - October 25, 2019
Emad Al Sultan, CEO of Kuwait Oil Company (KOC), talks to TOGY about how the company plans to reach Kuwait’s oil and gas production targets, advances made at the…
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NEWS
Multinational - October 25, 2019
Oil prices fell on Friday in Asia after gaining overnight amid a surprise weekly drawdown in US crude stockpiles.
US Crude Oil WTI Futures lost 0.6% to $55.91 by…
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