NEWS
August 02, 2016
Former Nigerian National Petroleum Corporation Group Managing Director Mohammad Sanusi Barkindo officially took over from Abdalla Salem El Badri as OPEC secretary…
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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
Nigeria - July 25, 2016
The Nigerian government aims to increase production by almost 1 million bopd over the next two years, Minister of Budget and National Planning Udoma Udo Udoma said on…
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NEWS
Algeria - July 19, 2016
North African OPEC member Algeria has raised output by at least 75,000 over the past few months, with the country targeting major production increases until 2020,…
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NEWS
- July 13, 2016
The global glut shows little signs of easing, the International Energy Agency (IEA) signalled in its report on Wednesday, pointing to the increase in floating storage…
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NEWS
Kuwait - July 13, 2016
Kuwaiti acting Oil Minister and Deputy Prime Minister Anas Al Saleh on Tuesday reiterated the government’s plans to sell minority stakes in local oil and gas…
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NEWS
Gabon - June 30, 2016
June 30, 2016 marked the re-entry of Gabon into OPEC. Recent and ongoing discussions between Abdalla Salem El Badri, OPEC’s acting secretary-general, and Gabonese…
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NEWS
July 01, 2016
OPEC produced a record volume of crude in June, a survey released late on Thursday found, as the combined output from the countries gathered under the organisation’s…
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NEWS
Nigeria - June 24, 2016
ExxonMobil’s 2009 bid that secured it oil rights to some of Nigeria’s most prolific fields is under investigation, the Guardian newspaper reported on Friday.…
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NEWS
Iran - June 22, 2016
Behrouz Beik Alizadeh, senior oil market analyst at the Iranian Ministry of Petroleum, has been named Iran’s new representative at OPEC, industry information…
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