NEWS
- April 15, 2016
News about Iranian Oil Minister Bijan Zanganeh reportedly not attending the April 17 meeting of OPEC and non-OPEC members in Doha pushed oil prices down early on…
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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
USA - April 06, 2016
Oil prices continued to rise this morning after climbing Tuesday on reportedly reduced inventories in the USA and an upbeat message from Kuwait’s OPEC governor, Nawal…
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Interview
Egypt - March 30, 2016
Hugh Fraser, a partner at Andrews Kurth law firm, talks to TOGY about the forces shaping demand for legal advice in Egypt’s energy market, the vital role joint…
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NEWS
Qatar - March 22, 2016
Qatar, host of the April 17 Doha meeting of OPEC and non-OPEC producers, on Tuesday formally invited the 12 other member countries, a statement by the Ministry of…
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NEWS
Qatar - March 16, 2016
Mohammed bin Saleh Al Sada, Qatari minister of energy and industry and current president of OPEC, has called for a meeting of OPEC and non-OPEC producers in Doha on…
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Interview
Abu Dhabi - March 11, 2016
OPEC secretary-general Abdalla Salem El Badri talks to TOGY about how member countries can remain competitive in the current market climate of continuing oil price…
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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…
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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…
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