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The Organization of the Petroleum Exporting Countries (OPEC / ˈ oʊ p ɛ k / OH-pek) is a cartel enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize profit.
List of OPEC secretaries general No. Name Country Tenure 1: Fuad Rouhani [A] Iran [B] 21 Jan 1961 – 30 Apr 1964 2: Abdul Rahman al-Bazzaz [A] Iraq [B] 1 May 1964 – 30 Apr 1965 3: Ashraf T. Lutfi Kuwait [B] 1 May 1965 – 31 Dec 1966 4: Mohammad Saleh Joukhdar Saudi Arabia [B] 1 Jan 1967 – 31 Dec 1967 5: Francisco R. Parra Venezuela [B]
On 9 January 1968, three of the then–most conservative Arab oil states – Kuwait, Libya, and Saudi Arabia – agreed at a conference in Beirut, Lebanon to found the Organization of Arab Petroleum Exporting Countries, aiming to separate the production and sale of oil from politics in the wake of the halfhearted 1967 oil embargo in response to the Six-Day War.
OPEC is the most dominant and influential entity in the Megacorpstate. [1] Every economic fluctuation that is experienced by this organization affects the entire market structure. [9] As a result, a crucial relationship between the two entities is to be observed.
Organization for Economic and Co-operation Development (OECD) OPEC Fund for International Development (OPEC Fund) Organization of Petroleum-Exporting Countries (OPEC) West African Development Bank (BOAD) World Bank Group. International Bank for Reconstruction and Development (IBRD) International Development Association (IDA)
The OPEC Fund considers its own EPI as complementary to the objectives of SEforAll. In 2011, the OPEC Fund's then Director-General Suleiman Jasir Al-Herbish was invited to join the UN Secretary-General's High-level Group on SEforAll, which was charged with developing the Action Agenda that was presented to the 2012 Rio+20 Summit.
The Organization of the Petroleum Exporting Countries (OPEC) comprises countries that have organized to coordinate their petroleum policies for the stabilization of oil markets. Subcategories This category has the following 2 subcategories, out of 2 total.
According to the Algerian Energy and Mines Minister Chakib Khelil, this mean that in the long term the GECF will move toward becoming a gas OPEC. [12] On 11 December 2009, Russia's Energy Minister Sergey Shmatko stated: "Today we can speak about gas OPEC as a fully fledged international organization. By a unanimous decision a Russian national ...