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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BACK TOCOMPANIES
OPEC
H.E. Haitham AL GHAIS
Secretary-General
OPEC
Saudi Arabia’s strategic vision and commitment to collaboration will undoubtedly continue to play a key role in OPEC’s ability to navigate the evolving global energy landscape.
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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
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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
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NEWS
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NEWS
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Multinational - April 22, 2017
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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.
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