NEWS
Multinational - April 22, 2017
The disappointing Q1 results of Schlumberger, Woodside and Saipem topped the news in the past week, while exciting speculation about China preparing a consortium to…
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
Interview
Kuwait - April 20, 2017
TOGY talks to Amr Tantawy, country manager of DHL Express, about the logistics environment in Kuwait and the company’s work with the local oil and gas industry.
READ MORE
Interview
Abu Dhabi - April 19, 2017
TOGY talks to Ni Jian, China’s ambassador to the UAE, about the two countries’ trade ties, energy co-operation and changes in the global energy mix. As the largest…
READ MORE
NEWS
Multinational - April 18, 2017
Several government officials shared their thoughts on whether or not to extend the November 2016 OPEC production cut, signalling a readiness to do so.
UAE Minister…
READ MORE
NEWS
Nigeria - April 14, 2017
Minister of State for Petroleum Resources Emmanuel Kachikwu late on Thursday contradicted reports that the turnaround maintenance work at Shell’s offshore Bonga field…
READ MORE
NEWS
Multinational - April 08, 2017
Qatar Petroleum’s (QP) decision to lift the self-imposed moratorium on the development of the North Field dominated the oil and gas headlines last week. However, the…
READ MORE
NEWS
Multinational - April 05, 2017
Oil prices rose steadily on Tuesday and Wednesday amid an outage in the North Sea and data showing that US commercial crude inventories fell by some 1.8 million barrels…
READ MORE
Interview
USA - April 05, 2017
TOGY talks to Paul Horsnell, head of commodities research at Standard Chartered Bank, about OPEC, oil prices and the USA’s energy policy. The bank provides advisory,…
READ MORE
NEWS
Oman - April 03, 2017
Oman will cap its output at 970,000 bopd instead of 1 million as previously planned if producers extend the oil production cut deal set to expire in July, a top energy…
READ MORE
