NEWS
Multinational - January 30, 2018
Crude oil prices continued to decline on Tuesday, despite overall optimism over the rebalancing of the market as traders turned their attention to this week’s U.S.…
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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 29, 2018
Crude oil prices turned lower on Monday, but the commodity remained supported within close distance of recent multi-year highs amid overall optimism over the…
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NEWS
Multinational - January 25, 2018
Crude oil prices climbed to fresh three-year highs on Thursday, as news of another weekly decline in U.S. crude inventories added to overall optimism over the…
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Interview
Saudi Arabia - January 25, 2018
Safwat Hakam, country sales director for Saudi Arabia and Bahrain at Rockwell Automation, talks to TOGY about the company’s recent activities in the Saudi oil and gas…
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NEWS
Multinational - January 24, 2018
Crude prices were largely unchanged on Wednesday, amid speculation weekly supply data due later in the day will show an increase in U.S. oil and fuel supplies.
The…
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NEWS
UK - January 23, 2018
Crude oil prices continued to rise on Tuesday, after the International Monetary Fund upwardly revised its growth outlook and as recent comments from Saudi Arabia…
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NEWS
Multinational - January 19, 2018
Crude oil prices remained under pressure on Friday, as an increase in U.S. oil production offset news of another decline in U.S. inventories last week.
The U.S. West…
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NEWS
Multinational - January 17, 2018
Crude oil prices remained under pressure on Wednesday, although they were still hovering within close distance of recent multi-year highs, as investors remained…
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NEWS
Multinational - January 15, 2018
Crude oil prices were mixed on Monday, but they were still hovering near multi-year highs as overall optimism regarding the rebalancing of the market continued to…
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