NEWS
UK - February 09, 2016
Turnover growth for the top 100 global hydrocarbons companies will decline from an estimated 18.6% in 2015 to 5.3% in 2016, according to the UK auditing firm EY’s…
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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 8, 2016
Nigerian Ambassador to Angola Otunba Folorunso Otukoya talks to TOGY about the potential for Angola’s oil and gas industry to grow by drawing on Nigeria’s…
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NEWS
Venezuela - February 04, 2016
OPEC member states Algeria, Ecuador, Iran, Iraq, Nigeria and Venezuela would consider attending an extraordinary OPEC meeting if it is called, Venezuelan Minister of…
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NEWS
USA - January 27, 2016
Oil prices fell again on Wednesday following an American Petroleum Institute report about an unexpected rise in US inventories.
Oil prices fell back around the USD…
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NEWS
USA - January 25, 2016
Halliburton has experienced a Q4 net loss of 54% in its North American operations compared with last year, the US oilfield services company reported on Monday.
The…
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NEWS
Japan - January 22, 2016
Japan lifted nuclear sanctions on Iran Friday following the UN Atomic Energy Agency’s confirmation that the Middle Eastern nation was in the process of breaking down…
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NEWS
UK - January 18, 2016
The price of Brent crude fell to USD 27.67 per barrel, the lowest trading price in more than a decade, before recovering at 28.86 on Sunday.
The most recent crude…
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NEWS
Mexico - January 18, 2016
Saudi Arabian King Salman bin Abdulaziz and Mexican President Enrique Peña Nieto signed deals between their national oil companies, an energy co-operation agreement…
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Interview
Saudi Arabia - January 13, 2016
Hani Al Maimani, managing director of National Petroleum Services (NPS), talks to TOGY about the importance of technology and investment in Saudi Arabia’s upstream…
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