NEWS
Nigeria - October 25, 2016
The Nigerian armed group Niger Delta Avengers attacked the Chevron Escravos offshore pipeline on Tuesday, just after the Nigerian government announced oil output was…
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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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NEWS
Iraq - October 24, 2016
Iraq’s oil ministry opened 12 small and medium-sized oilfields for bidding on Monday and signalled it would seek new terms for their development.
The tender…
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NEWS
Iraq - October 24, 2016
OPEC’s second-largest producer, Iraq, said on Sunday it should be exempt from oil production cuts on the grounds that its production has already been decimated by…
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NEWS
- October 21, 2016
The world’s biggest oilfield services company announced USD 176 million in profits for Q3 on Thursday, indicating that improved rig activity in North America and…
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NEWS
Russia - October 20, 2016
As analysts hold their breath over a potential deal between OPEC and Russia to limit production, Rosneft said on Thursday it had the potential to ramp up output…
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Interview
Nigeria - October 19, 2016
Mahaman Laouan Gaya, executive secretary of the African Petroleum Producers Association (APPA), talks to TOGY about the cause of the drop in oil prices and the…
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NEWS
USA - October 13, 2016
Denver-based energy company Extraction Oil & Gas scored a remarkable success with its IPO on Wednesday, potentially paving the way for other hydrocarbons companies to…
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NEWS
October 11, 2016
Oil prices fell back Tuesday after a brief surge on Monday over fears that a production cut deal might face hurdles in implementation.
Both Saudi Arabian and Russian…
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NEWS
October 10, 2016
Despite comments by Saudi Minister of Energy Khalid Al Falih, who voiced optimism on Monday that a production cut could bring prices up to USD 60 a barrel, many…
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