NEWS
Nigeria - September 14, 2017
Nigeria is unlikely to participate in OPEC production cuts, the country’s oil minister, Emmanuel Ibe Kachikwu, said Wednesday.
The country had been exempted from…
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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 - September 12, 2017
U.S. crude oil futures bounced back on Tuesday, erasing earlier losses as traders turned to the weekly data on U.S. stockpiles, as well as the Organization of Petroleum…
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NEWS
USA - September 11, 2017
U.S. oil futures remained higher on Monday, while Brent futures lost some ground as concerns over the impact of Hurricane Irma on the oil industry eased and amid talk…
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NEWS
Libya - August 30, 2017
Three Libyan oilfields have gone offline and output has declined by 360,000 bopd after militia violence, the country’s NOC announced on Wednesday.
The Rayayina…
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Interview
Argentina - August 28, 2017
Ernesto Díaz, Wood Mackenzie’s regional director in Latin America, talks to TOGY about the differences between developing projects in Vaca Muerta and the Permian…
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NEWS
USA - August 28, 2017
Oil prices edged lower on Monday, while gasoline futures soared to their highest since July 2015, as energy markets digested the impact of Hurricane Harvey on the U.S.…
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NEWS
Multinational - August 25, 2017
Crude oil prices moved higher on Friday, as energy companies pulled workers from offshore oil platforms and halted onshore drilling in south Texas in preparation for…
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NEWS
Multinational - August 24, 2017
Crude oil prices remained lower on Thursday, as news on Wednesday of increasing U.S. production levels added to concerns over a global supply glut.
The U.S. West…
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NEWS
Multinational - August 22, 2017
Crude oil prices slipped lower on Tuesday, as investors were eyeing the weekly data from the U.S. on stockpiles of crude and refined products due later in the…
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