NEWS
Kazakhstan - March 10, 2016
Kazakhstan has plans to revert to its original 2016 oil output target of 564 million barrels should the oil price remain above USD 40, the country’s minister of oil…
READ MORE
BACK TOCOMPANIES
OPEC
H.E. Mohammad Sanusi BARKINDO
Secretary General
OPEC
OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement.
Read The Full Interview
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.
READ MORE
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…
READ MORE
Interview
Kuwait - August 01, 2024
Anar Aliyev of bp talks about bp’s long-standing commitment to Kuwait’s hydrocarbons sector.
READ MORE
Partnered Event
Azerbaijan - June 4-6, 2024
The Baku Energy Week encompasses three prestigious events: the 29th International Caspian Oil and Gas Exhibition - Caspian…
READ MORE
NEWS
Abu Dhabi - March 01, 2016
Energy Minister Suhail bin Mohammed Al Mazrouei has reiterated the need for major producers to reach a consensus on how to balance the world’s oil market. Speaking on…
READ MORE
NEWS
Qatar - February 25, 2016
Mohammed bin Saleh Al Sada, Qatari Minister of Energy and Industry and current president of OPEC, on Thursday underscored the need for a cap on production as a means to…
READ MORE
NEWS
Oman - February 24, 2016
Omani Minister of Oil and Gas Mohammed bin Hamad bin Saif Al Rumhy said on Wednesday that his country stands with Iran in the latter’s objection to last week’s…
READ MORE
NEWS
Saudi Arabia - February 24, 2016
Saudi Arabia will not follow deal brought forward by other major oil producers to freeze rising output, the country’s oil minister, Ali Al Naimi, said at a conference…
READ MORE
NEWS
Iran - February 22, 2016
Iran has increased oil exports by 500,000 bpd after sanctions were lifted in January, the director of international affairs for state-run National Iranian Oil Company,…
READ MORE
NEWS
India - February 19, 2016
India’s oil imports from Saudi Arabia jumped 29% in January from the same month a year ago, market analyst group Thomson Reuters Oil Research & Forecasts reported…
READ MORE
NEWS
Iran - February 17, 2016
Iran has taken a tough stance against a production freeze proposed by other members of OPEC, Iranian OPEC envoy Mehdi Asali was quoted as saying in the Tehran-based…
READ MORE
NEWS
Saudi Arabia - February 16, 2016
Saudi Arabia and Russia agreed to freeze production in a meeting in Qatar today.
The agreement would mean keeping production at January levels, which would allow…
READ MORE
