NEWS
Iraq - April 03, 2017
Iraq remains committed to full compliance with the November 2016 agreement to cap oil production, OPEC Secretary General Mohammed Barkindo reported on Sunday.…
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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
Ecuador - March 29, 2017
Confusion reigned over Ecuadorean debts on Tuesday as Baker Hughes announced it had received its dues, a day after Schlumberger said its Q1 results would likely be hurt…
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NEWS
Multinational - March 27, 2017
Oil fell on Monday after OPEC and non-OPEC ministers omitted from their final statement on Sunday a recommendation to extend the production cut deal reached last…
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Interview
Kuwait - March 24, 2017
TOGY talks to Sunil Jain, Indian ambassador to Kuwait, about how relations between the two countries support hydrocarbons co-operation and investment and Kuwait’s…
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NEWS
Multinational - March 22, 2017
New production could result in a repeat oil supply glut in 2018-2019, Goldman Sachs said on Tuesday as oil prices slid on growing US inventories.
“2017-19 is likely…
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NEWS
Multinational - March 18, 2017
The oil and gas news of the past week was a mixed bag. A major Wood Group acquisition set things in motion on Monday, with the highlights of the past week ranging from…
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NEWS
Multinational - March 15, 2017
Brent crude futures for May were up about 2% to USD 51.90 per barrel at 12:13 pm London time on Wednesday, largely on US inventories data and IEA projections that the…
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NEWS
Iran - March 14, 2017
Minister of Petroleum Bijan Namdar Zangeneh has offered to keep Iranian oil production at the agreed-up level of 3.8 million bopd for the remainder of 2017.…
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NEWS
Multinational - March 10, 2017
Brent crude futures for May were up two-thirds of a percent to USD 52.55 per barrel at 11:16 am (GMT) on Friday, after oil dropped to three-month lows this…
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