NEWS
Multinational - January 07, 2019
Oil prices gained on Monday in Asia following reports that U.S. President Donald Trump is likely to hold talks with Wang Qishan, China’s vice president, at the World…
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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 04, 2019
Oil prices edged up on Friday in Asia after China confirmed it would hold talks with Washington next week to solve trade disputes between the two countries.
U.S.…
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NEWS
Oman - December 14, 2018
Oman will cut its oil output for six months starting in January, international media reported on Friday.
Though it is not a member of OPEC, the country will join…
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NEWS
Multinational - December 11, 2018
Oil prices edged up on Tuesday in Asia after falling 3% in the previous session as a cut promised by Saudi Arabia and its allies in the enlarged OPEC+ failed to boost…
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NEWS
Nigeria - December 11, 2018
Nigerian oil minister Emmanuel Ibe Kachikwu has said the country did not seek an exemption from the OPEC production cut, local media reported Monday.
“We didn’t…
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NEWS
Multinational - December 06, 2018
Oil prices fell on Thursday. Energy traders weighed prospects for coordinated production cuts as a closely watched meeting of =OPEC and its allies got underway in…
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NEWS
Multinational - December 05, 2018
Oil prices fell on Wednesday, amid signs of swelling U.S. inventories, though losses were limited as traders continued to weigh prospects of a coordinated production…
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