NEWS
Multinational - February 13, 2017
OPEC members’ oil production went down 1 million bopd to 32.1 million bopd in January, with a remarkable 90% compliance rate. According to a deal reached in November…
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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
Interview
USA - June 12, 2026
Josh Sherman of the Houston Producers Forum talks about Houston’s growing pull as energy security concerns and growing LNG and…
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NEWS
Canada - June 10, 2026
ADNOC will explore upstream and LNG opportunities in Canada through its international investment arm, XRG.
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NEWS
UAE - May 12, 2026
ADNOC Drilling is prepared to expand the UAE’s oil production capacity beyond 5 million bopd by 2027 as the country advances…
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NEWS
UAE - April 29, 2026
The UAE has announced it will leave OPEC, potentially clearing the way for higher production outside OPEC quotas and dealing a…
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Interview
Angola - February 07, 2017
TOGY talks to Pedro Godinho, the president of Aker Solutions Enterprises (Aksel), about the direction oil prices are moving and the impact of production cuts as well as…
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NEWS
Qatar - February 07, 2017
Qatar, “very comfortable” after an output reduction deal between OPEC and non-OPEC producers drove oil prices up in recent months, is considering aggressive…
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Interview
USA - February 06, 2017
TOGY talks to Ryan Sitton, commissioner of the Railroad Commission of Texas (RRC). The Railroad Commission of Texas regulates the exploration, production and…
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Interview
Iran - February 02, 2017
Iran came to the table with regional rival Saudi Arabia and agreed to cap its oil output at around 3.8 million bopd in November 2016, following months of negotiations…
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Interview
Nigeria - February 01, 2017
TOGY talks to Samuel Dossou-Aworet, chairman and founder of Petrolin, about the company’s Backbone project, attracting financing and investors, and the foundation of…
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NEWS
USA - February 01, 2017
Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al Falih on Wednesday heaped praise on US President Donald Trump’s energy policies, saying…
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NEWS
Iran - February 01, 2017
Iran will build 12 new oil and gas condensate refineries, an official from the National Iranian Oil Refining & Distribution Company (NIORDC) said on Wednesday.
Arman…
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NEWS
USA - January 30, 2017
London Brent crude and WTI futures fell on Monday morning, with concerns about increasing US production weighing on prices.
According to Baker Hughes, the number of…
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