H.E. Mohammad Sanusi BARKINDO
Secretary General
OPEC
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.
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
Years active as of 2020:60
Number of member states:13
OPEC+ members have agreed to oil production cuts totaling 2.2 million bopd for early 2024, the oil and gas organisation…
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The past 10 years, and particularly the last two, have seen rapid and substantive movement from the UAE government towards establishing the country’s place in a more…
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Francesco La Camera, director-general of the International Renewable Energy Agency (IRENA), talks to The Energy Year about global trends in the energy transition and…
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Iraq has set a January 2024 deadline for its fifth plus and sixth oil and gas licensing rounds, Reuters reported on Tuesday.
Blocks on offer consist of 16…
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Saudi Arabia and Russia have both decided to extend their voluntary oil cuts to the end of 2023, Reuters reported on Tuesday.
The decision will see Saudi Arabia…
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Saudi Arabia has extended its voluntary production cut of around 1 million bopd into September, Reuters reported on Thursday.
The country will continue to produce…
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Kuwait aims to invest USD 300 billion in the energy sector by 2040, Kuwait’s Minister of Oil Saad Al Barrak announced on Thursday.
The investment is part of a…
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Saudi Arabia has pledged to cut oil production by 1 million bpd starting in July, Reuters announced on Monday.
The country currently produces around 10 million bopd…
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H.E. Mohsin Al Hadhrami, undersecretary of Oman’s Ministry of Energy and Minerals, talks to The Energy Year about the state of Oman’s oil and gas sector, how the…
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Oman has repaid USD 2.86 billion in loans in Q1 2023 on the back of heightened oil prices, the Omani ministry of finance announced on Monday.
The move brings the…
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