NEWS
Multinational - February 15, 2018
Crude oil prices turned lower on Thursday, as concerns surrounding rising U.S. output levels overshadowed optimism sparked by global efforts to limit production.
The…
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 - February 12, 2018
Crude oil prices continued to climb on Monday, as the market continued to recover from the previous week’s steep losses and investors turned their attention to the…
READ MORE
NEWS
Multinational - February 09, 2018
Crude oil prices continued to tumble on Thursday, as concerns over rising U.S. production continued to weigh heavily on the commodity.
The U.S. West Texas…
READ MORE
NEWS
Argentina - February 07, 2018
Venezuelan President Nicolás Maduro has responded to US Secretary of State Rex Tillerson’s comments about the possibility of oil sanctions, local media reported on…
READ MORE
Interview
Indonesia - February 07, 2018
Ignasius Jonan, Indonesia’s minister of energy and mineral resources, talks to TOGY about the government’s plans to expand electrification in the country, efforts…
READ MORE
NEWS
Multinational - February 05, 2018
Crude oil prices continued to decline on Monday, as rising U.S. production offset optimism surrounding global supply cut efforts to drain the market of excess…
READ MORE
NEWS
Multinational - February 02, 2018
Crude oil prices moved lower on Friday, as traders locked in profits following the commodity’s recent rally amid overall optimism over the rebalancing of the…
READ MORE
NEWS
Multinational - February 01, 2018
Crude oil prices continued to rise on Thursday, helped by news of a sharp decline in U.S. stocks of gasoline and distillate supplies and that OPEC members are complying…
READ MORE
