NEWS
Multinational - October 24, 2019
Oil prices dropped on Thursday in Asia, erasing gains recorded following a surprise dip in US crude stockpiles.
US Crude Oil WTI Futures fell 0.8% to $55.50 by…
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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 - October 23, 2019
Oil prices traded lower on Wednesday in Asia after data from the American Petroleum Institute (API) showed that US crude stockpiles rose last week.
US Crude Oil WTI…
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NEWS
Multinational - October 18, 2019
Oil prices dropped on Friday in Asia after Energy Information Administration (EIA) reported that US oil inventories rose much more than the market was expecting, while…
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NEWS
Multinational - October 16, 2019
Oil prices recovered on Wednesday in Asia amid renewed hopes of a potential Brexit deal between the UK and the European Union.
US Crude Oil WTI Futures gained 0.3%…
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Interview
Russia - October 11, 2019
R.N. Minnikhanov, president of the Republic of Tatarstan, talks to TOGY about the significance of Tatarstan in the development of Russia’s oil and gas industry, the…
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NEWS
Multinational - October 11, 2019
Oil prices gained on Friday in Asia after the Organization of Petroleum Exporting Countries (OPEC) indicated it expected supply from non-OPEC sources to grow slightly…
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Interview
Russia - October 09, 2019
Yuri K. Shafranik, chairman of the Union of Oil & Gas Producers of Russia, talks to TOGY about key recent milestones for the Russian oil and gas industry and the…
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NEWS
Multinational - September 11, 2019
Oil prices rose on Wednesday in Asia after the American Petroleum Institute’s (API) weekly report showed that US crude stockpiles fell more than expected last…
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Interview
Russia - September 10, 2019
Genadiy Shmal, president of the Union of Oil & Gas Producers of Russia, talks to TOGY about Russia’s capacity to continue supplying gas to Europe, as well as the…
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