Interview
Abu Dhabi - May 24, 2017
Ramon Areitio Toledo, general manager of CEPSA Petroleum Operations Middle East, talks to TOGY about potential in the downstream sector, possible opportunities with…
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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 - May 20, 2017
The past week was one of bidding rounds, with both Australia and Indonesia announcing they would be making blocks available. Angola, on the other hand, was forced to…
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NEWS
Kuwait - May 17, 2017
OPEC members Iraq and Kuwait have thrown their support behind Monday’s Saudi-Russian agreement on extending oil production cuts to March 2018.
On Tuesday, Kuwaiti…
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Interview
Abu Dhabi - May 16, 2017
Hatem Nuseibeh, president of Total Abu Dhabi, talks to TOGY about the ABK concession and development opportunities in Abu Dhabi. French super-major Total has been…
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NEWS
Multinational - May 15, 2017
Russia and Saudi Arabia have reached an agreement on extending oil production cuts to March 2018, the countries announced on Monday.
In a statement released in…
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NEWS
Multinational - May 10, 2017
Oil prices were up slightly on Wednesday on declining US inventories and reports of a Saudi supply cut to Asia but remained near five-month lows reached last week on…
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NEWS
Saudi Arabia - May 08, 2017
The agreement to restrict the production of crude oil to control oversupply could continue until the second half of 2018, Saudi Arabia’s minister of energy, industry…
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NEWS
Multinational - April 27, 2017
Russian Gazprom’s annual profit in 2016 was up 21% and French major Total’s net income in Q1 2017 was up 77% from the same quarter the year before, the companies said…
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