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P.etroleum
E.xporting
.
of the
C.ountries
PRESENTED BY
VAIBHAV
ABHISHEK
AKSHAY
ASHISH
ANURADHA
CHITRESH
BHAVANA
Oil
HISTORY
FOUNDED IN : Baghdad
Conference on September 10
14, 1960
IN EFFECT : JAN, 1961
FOUNDER MEMBERS : Iran,
Iraq, Kuwait, Saudi Arabia and
Venezuela
HEADQUARTER : Vienna,
Austria
SECRETARY GENERAL :
Abdallah Salem el-Badri
mISSION
To coordinate and unify the
Petroleum policies of its Member
Countries and ensure the
stabilization of oil markets in
order to secure an efficient,
economic and regular supply of
petroleum to consumers, a steady
income to producers and a fair
return on capital for those
OBJECTIVES
To co-ordinate and unify petroleum
policies among Member Countries, in
order to secure fair and stable prices
for petroleum producers
to
those
OPEC
INTRODUCTION
It is a permanent intergovernmental
organization
Currently consisting of 12 oil producing
and exporting
countries, spread
continents America, Asia
across
three
and Africa.
Oil is the Key to development for these
countries
OPEC
MEMBERS OF
COUNTRIES
REGION
JOINED
OIL
PRODUCTIO
N
(bbl/day,
2014)
Algeria
Africa
1969
1,721,000
Angola
Africa
2007
1,756,000
Ecuador
South
America
1973-1992,
2007
556,000
Indonesia
Southeast
Asia
1962-2008,
2016
917,000
Iran
Middle East
1960
3,377,000
Iraq
Middle East
1960
3,364,000
Kuwait
Middle East
1960
2,767,000
Libya
Africa
1962
516,000
Nigeria
Africa
1971
2,428,000
Qatar
Middle East
1961
2,055,000
Middle East
1960
11,624,000
Saudi
NonOPEC
20%
272
.9
1,0
64
OPEC; 80%
All others; 5
Nigeria; 3%
Saudi Arabia; 25%
Libya; 4%
UAE; 9%
Kuwait; 10%
Venezuela; 20%
Iraq; 11%
Iran; 13%
FUCTIONING OF OPEC
o Representatives of OPEC
member Countries ( heads
of Delegation ) meet at the
OPEC
Conference
to
coordinate and unify their
petroleum policies in order
to promote stability and
harmony in the oil market.
o The Member Countries
consider
the
current
situation and forecast of
market fundamentals.
o Any changes to be made
in the petroleum policies
are considered.
ACHIEVEMENT @ 50
Secure and Steady
supply of
oil
Fifty year old A
success in
itself
Sustainable
Development
OPEC and the
Environment
THANK
YOU