Interview
Oman - January 09, 2023
Walter Simpson, managing director of CC Energy Development (CCED), talks to The Energy Year about the oil and gas sector’s positive momentum, the latest on the…
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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.
OPEC in figures
Years active as of 2020:60
Number of member states:13
OPEC features
NEWS
Kuwait - February 07, 2023
OPEC Secretary-General Haitham Al Ghais has announced a positive forecast for the global oil and gas industry on Monday at the…
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Multinational - October 06, 2022
OPEC+ has agreed to cut oil production by 2 million bpd in light of rising interest rates and a weak global economy, the intergovernmental hydrocarbons production…
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Multinational - June 03, 2022
OPEC+ members have agreed to a rise in production of 648,000 bopd in July 2022 and the same amount in August 2022, the intergovernmental hydrocarbons organisation…
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Interview
Nigeria - May 27, 2022
Nigerian Minister of State for Petroleum Resources H.E. Chief Timipre Marlin Sylva talks to The Energy Year about Nigeraia’s plans in the oil sector.
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Interview
Multinational - May 06, 2022
Mehmet Öğütçü, CEO of Global Resources Partners and chairman of the London Energy Club, talks to The Energy Year about changes in the global energy picture brought…
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Angola - March 21, 2022
The National Agency of Oil, Gas and Biofuels has announced an opening date of April 1, 2022, for proposals on Angola’s latest upstream bid round, the national energy…
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Interview
Egypt - January 26, 2022
Egyptian Minister of Petroleum and Mineral Resources H.E. Eng. Tarek El Molla talks to The Energy Year about the latest achievements of the ministry’s Modernization…
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Multinational - November 29, 2021
Oil was up Monday morning in Asia, clawing back some of Friday’s losses. Investors went bargain hunting, but caution still remained over the discovery of the new…
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Multinational - October 15, 2021
Oil was up Friday morning in Asia and was set to end the week with gains of more than 2%. There are increasing signs of tight supply over the next few months as soaring…
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