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Encyclopedia > OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is a group of thirteen states[1][2] made up of Iran, Iraq, Kuwait, Qatar, Saudi Arabia, the United Arab Emirates, Libya, Algeria, Nigeria, Angola, Venezuela, Ecuador, and Indonesia. Recently, Indonesia has decided to quit the organization, though it will remain a member until the end of 2008. The organization has maintained its headquarters in Vienna since 1965, hosting regular meetings between the oil ministers of its member states. Image File history File links Flag_of_OPEC.svg‎ Summary Flag of the international organization OPEC, drawn in SVG. Licensing I, the creator of this work, hereby release it into the public domain. ... Image File history File links Flag_of_OPEC.svg‎ Summary Flag of the international organization OPEC, drawn in SVG. Licensing I, the creator of this work, hereby release it into the public domain. ... For other uses, see State (disambiguation). ... For other uses, see Vienna (disambiguation). ...


According to its statute, the principal goal is the determination of the best means for safeguarding their interests, individually and collectively; devising ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient, economic and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry."[3] The Statute of Grand Duchy of Lithuania A statute is a formal, written law of a country or state, written and enacted by its legislative authority, perhaps to then be ratified by the highest executive in the government, and finally published. ... The Oil industry brings to market what is currently considered the lifeblood of nearly all other industry, if not industrialized civilization itself. ... Petro redirects here. ...


OPEC's influence on the market has been negatively criticized. Several members of OPEC alarmed the world and triggered high inflation across both the developing and developed world when they used oil embargoes in the 1973 oil crisis. OPEC's ability to control the price of oil has diminished somewhat since then, due to the subsequent discovery and development of large oil reserves in the Gulf of Mexico and the North Sea, the opening up of Russia, and market modernization. OPEC nations still account for two-thirds of the world's oil reserves, and, as of March 2008, 35.6% of the world's oil production, affording them considerable control over the global market. The next largest group of producers, members of the OECD and the Post-Soviet states produced only 23.8% and 14.8%, respectively, of the world's total oil production.[4] As early as 2003, concerns that OPEC members had little excess pumping capacity sparked speculation that their influence on crude oil prices would begin to slip.[5][6] The 1973 oil crisis began on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that they would no longer ship oil to nations... This article or section is not written in the formal tone expected of an encyclopedia article. ... Gulf of Mexico in 3D perspective. ... The North Sea is a sea of the Atlantic Ocean, located between the coasts of Norway and Denmark in the east, the coast of the British Isles in the west, and the German, Dutch, Belgian and French coasts in the south. ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... Post-Soviet states in alphabetical order: 1. ...

Contents

History

OPEC headquarters in Vienna
OPEC headquarters in Vienna

Venezuela was the first country to move towards the establishment of OPEC by approaching Iran, Iraq, Kuwait and Saudi Arabia in 1949, suggesting that they exchange views and explore avenues for regular and closer communications between them. In September 1960, at the initiative of the Venezuelan Energy and Mines minister Juan Pablo Pérez Alfonzo and the Saudi Arabian Energy and Mines minister Abdullah al-Tariki, the governments of Iraq, Iran, Kuwait, Saudi Arabia and Venezuela met in Baghdad to discuss the reduction in price of crude oil produced by their respective countries. OPEC was founded in Baghdad, Iraq triggered by a 1960 law instituted by American President Dwight Eisenhower that forced quotas for Venezuelan oil and favored Canada and Mexico's oil industries. Eisenhower cited national security, land access to energy supplies, at times of war. Venezuela's president Romulo Betancourt reacted seeking an alliance with oil producing Arab nations as a pre-emptive strategy to protect the continuous autonomy and profitability of Venezuela's natural resource: oil. ImageMetadata File history File links Download high resolution version (1024x768, 176 KB) Opec HQ, Vienna / OPEC Zentrale in Wien OPEC GEbäude in Wien, GNU-FDL, selbst fotografiert. ... ImageMetadata File history File links Download high resolution version (1024x768, 176 KB) Opec HQ, Vienna / OPEC Zentrale in Wien OPEC GEbäude in Wien, GNU-FDL, selbst fotografiert. ... Juan Pablo Pérez Alfonso (13 December 1903 – 3 September 1979) was a prominent Venezuelan diplomat and politician primarily responsible for the inception and creation of OPEC. Born in Caracas, Venezuela, Pérez Alfonzo helped found the political party Democratic Action (AD; Acción Democrática). ... Abdullah al-Tariki (1918 - 1997) ( Arabic: عبدالله الطريقي ) nicknamed the red minister, is the first Saudi oil minister appointed by King Saud , co-founder of Organization of Petroleum Exporting Countries (OPEC)and well-known Arab nationalist. ... Baghdad (Arabic: ) is the capital of Iraq and of Baghdad Governorate. ... Rómulo Ernesto Betancourt Bello (February 22, 1908 – September 28, 1981), the father of Venezuelan democracy, was President of Venezuela from 1945 to 1948 and again from 1959 to 1964. ...


As a result, the OPEC cartel was founded to unify and coordinate members' petroleum policies. Original OPEC members include Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Between 1960 and 1975, the organization expanded to include Qatar (1961), Indonesia (1962), Libya (1962), the United Arab Emirates (1967), Algeria (1969), and Nigeria (1971). Ecuador and Gabon were members of OPEC, but Ecuador withdrew on December 31, 1992[7] because they were unwilling or unable to pay a $2 million membership fee and felt that they needed to produce more oil than they were allowed to under the OPEC quota. [8] Similar concerns prompted Gabon to follow suit in January 1995 [2]. Angola joined on the first day of 2007. [9]) Indonesia is reconsidering its membership having become a net importer and being unable to meet its production quota. The United States was a member during its formal occupation of Iraq via the Coalition Provisional Authority.[10] Indicating that OPEC is not averse to further expansion, Mohammed Barkindo, OPEC's Secretary General, recently asked Sudan to join.[11] Iraq remains a member of OPEC, though Iraqi production has not been a part of any OPEC quota agreements since March 1998. In May 2008, Indonesia left the OPEC group because of the soaring prices and the rising oil demand in East Asia. Economist think that the withdrawal of Indonesia will have little effect on OPEC and on the oil prices even though it has a high percentage in world oil production. This article deals with the post-invasion period in Iraq and its occupation. ... The Seal of the CPA in Iraq The Coalition Provisional Authority (CPA) was established as a transitional government following the invasion of Iraq by the United States, United Kingdom and the other members of the multinational coalition which was formed to oust the government of Saddam Hussein in 2003. ...


The oil weapon

Main article: 1973 oil crisis
Long-term oil Prices, 1861-2007 (orange line adjusted for inflation, blue not adjusted).
Long-term oil Prices, 1861-2007 (orange line adjusted for inflation, blue not adjusted).

The persistence of the Arab-Israeli conflict finally triggered a response that transformed OPEC into a formidable political force. After the Six Day War of 1967, the Arab members of OPEC formed a separate, overlapping group, the Organization of Arab Petroleum Exporting Countries, for the purpose of centering policy and exerting pressure on the West over its support of Israel. Egypt and Syria, though not major oil-exporting countries, joined the latter grouping to help articulate its objectives. Later, the Yom Kippur War of 1973 galvanized Arab opinion. Furious at the emergency re-supply effort that had enabled Israel to withstand Egyptian and Syrian forces, the Arab world imposed the 1973 oil embargo against the United States and Western Europe. In the 1970s, the great Western oil conglomerates suddenly faced a unified block of producers. The 1973 oil crisis began on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that they would no longer ship oil to nations... Belligerents Arab nations Israel Arab-Israeli conflict series History of the Arab-Israeli conflict Views of the Arab-Israeli conflict International law and the Arab-Israeli conflict Arab-Israeli conflict facts, figures, and statistics Participants Israeli-Palestinian conflict · Israel-Lebanon conflict · Arab League · Soviet Union / Russia · Israel, Palestine and the... The 1967 Arab-Israeli War, also known as the Six-Day War or June War, was fought between Israel and its Arab neighbors Egypt, Jordan, and Syria. ... OAPEC was established in 1968 with permanent headquarters in Kuwait It is an instrument of Arab cooperation whose objective is to provide support to the Arab oil industry. ... Combatants  Israel  Egypt,  Syria,  Iraq Commanders Moshe Dayan, David Elazar, Ariel Sharon, Shmuel Gonen, Benjamin Peled, Israel Tal, Rehavam Zeevi, Aharon Yariv, Yitzhak Hofi, Rafael Eitan, Abraham Adan, Yanush Ben Gal Saad El Shazly, Ahmad Ismail Ali, Hosni Mubarak, Mohammed Aly Fahmy, Anwar Sadat, Abdel Ghani el-Gammasy, Abdul Munim... The 1973 oil crisis began on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that they would no longer ship oil to nations... A current understanding of Western Europe. ...


This Arab-Israeli conflict triggered a crisis already in the making. The West could not continue to increase its energy use 5% annually, pay low oil prices, yet sell inflation-priced goods to the petroleum producers in the Third World. This was stressed by the Shah of Iran, whose nation was the world's second-largest exporter of oil, and one of the closest ally of the United States in the Middle East at the time. "Of course [the world price of oil] is going to rise," the Shah told the New York Times in 1973. "Certainly! And how...; You [Western nations] increased the price of wheat you sell us by 300%, and the same for sugar and cement...; You buy our crude oil and sell it back to us, refined as petrochemicals, at a hundred times the price you've paid to us...; It's only fair that, from now on, you should pay more for oil. Let's say 10 times more."[12] Shah or Shahzad is a Persian term for a monarch (ruler) that has been adopted in many other languages. ... The New York Times is an internationally known daily newspaper published in New York City and distributed in the United States and many other nations worldwide. ... Species T. aestivum T. boeoticum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 Wheat Wheat For the indie rock group, see Wheat (band). ... This article is about sugar as food and as an important and widely-traded commodity. ... For other uses, see Cement (disambiguation). ... Pumpjack pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and elaion – oil or Latin oleum – oil ) or crude oil is a thick, dark brown or greenish liquid. ... Petrochemicals are chemical products made from raw materials of petroleum (hydrocarbon) origin. ...


The threat and use of embargo as a weapon, however, triggered a decline in OPEC's power. Western nations developed closer ties to the Soviet Union and rapidly built up their offshore drilling in the North Sea and the Gulf of Mexico, greatly lessening the potential impact of future price shocks induced by OPEC. The effect was not immediate, however. When the Shah of Iran fell in 1979, during the Iranian Revolution, another oil crisis (1979 oil crisis) ensued. Offshore drilling typically refers to the act of extracting resources, primarily oil, in an ocean or lake. ... The North Sea is a sea of the Atlantic Ocean, located between the coasts of Norway and Denmark in the east, the coast of the British Isles in the west, and the German, Dutch, Belgian and French coasts in the south. ... Gulf of Mexico in 3D perspective. ... This article is about the 1979 revolution in Iran. ... (Redirected from 1979 oil crisis) The 1979 (or second) energy crisis occurred in the wake of the Iranian Revolution. ...


The 1980s oil glut

Main article: 1980s oil glut
OPEC net oil export revenues for 1971 - 2007. [13]

After 1980, oil prices began a six-year decline that culminated with a 46 percent price drop in 1986. This was due to reduced demand and over-production that produced a glut on the world market. This caused OPEC to lose its unity. OPEC net oil export revenues fell in the 1980s.


Responding to war and low prices

Main articles: Oil price increase of 1990 and Oil price increases since 2003

Leading up to the 1990-91 Gulf War, Iraqi President Saddam Hussein advocated that OPEC push world oil prices up, thereby helping Iraq, and other member states, service debts. But the division of OPEC countries occasioned by the Iraq-Iran War and the Iraqi invasion of Kuwait marked a low point in the cohesion of OPEC. Once supply disruption fears that accompanied these conflicts dissipated, oil prices began to slide dramatically. The 1990 (or third) energy crisis was the mildest and most brief of them all. ... For other uses, see Iraq war (disambiguation). ... Saddam Hussein Abd al-Majid al-Tikriti (28 April 1937 – 30 December 2006) was the fifth President of Iraq and Chairman of the Iraqi Revolutionary Command Council from 1979 until his overthrow by US forces in 2003. ... Iranian troops in the northern front. ... C Company, 1st Battalion, The Staffordshire Regiment, 1st UK Armoured Division The 1991 Gulf War was a conflict between Iraq and a coalition force of 34 nations mandated by the United Nations and led by the United States. ...


After oil prices slumped at around $10 a barrel in the late 1990s, concerted diplomacy, sometimes attributed to Venezuela’s president Hugo Chávez, achieved a coordinated scaling back of oil production beginning in 1998. In 2000, Chávez hosted the first summit of heads of state of OPEC in 25 years. The next year, however, the September 11, 2001 attacks against the United States and the subsequent invasions of Afghanistan and 2003 invasion of Iraq and subsequent occupation prompted a surge in oil prices to levels far higher than those targeted by OPEC during the preceding period. Hugo Rafael Chávez Frías (pronounced ) (born July 28, 1954) is the current President of Venezuela. ... A sequential look at United Flight 175 crashing into the south tower of the World Trade Center The September 11, 2001 attacks (often referred to as 9/11—pronounced nine eleven or nine one one) consisted of a series of coordinated terrorist[1] suicide attacks upon the United States, predominantly... This article is about the 2003 invasion of Iraq. ... This article deals with the post-invasion period in Iraq and its occupation. ...


On November 19, 2007, global oil prices reacted strongly as OPEC members spoke openly about potentially converting their cash reserves to the euro and away from the US dollar. [14] is the 323rd day of the year (324th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...


Economics

OPEC decisions have had considerable influence on international oil prices. For example, in the 1973 energy crisis OPEC refused to ship oil to western countries that had supported Israel in the Yom Kippur War or October War, which they fought against Egypt and Syria. This refusal caused a fourfold increase in the price of oil, which lasted five months, starting on October 17, 1973, and ending on March 18, 1974. OPEC nations then agreed, on January 7, 1975, to raise crude oil prices by 10%. At that time, OPEC nations — including many who had recently nationalized their oil industries — joined the call for a new international economic order to be initiated by coalitions of primary producers. Concluding the First OPEC Summit in Algiers they called for stable and just commodity prices, an international food and agriculture program, technology transfer from North to South, and the democratization of the economic system.[citation needed] Overall, the evidence suggests that OPEC did act as a cartel, when it adopted output rationing in order to maintain price.[15] The 1973 oil crisis began on October 17, 1973, when the members of Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced, as a result of the ongoing Yom Kippur War, that they would no longer ship oil to nations... Combatants  Israel  Egypt,  Syria,  Iraq Commanders Moshe Dayan, David Elazar, Ariel Sharon, Shmuel Gonen, Benjamin Peled, Israel Tal, Rehavam Zeevi, Aharon Yariv, Yitzhak Hofi, Rafael Eitan, Abraham Adan, Yanush Ben Gal Saad El Shazly, Ahmad Ismail Ali, Hosni Mubarak, Mohammed Aly Fahmy, Anwar Sadat, Abdel Ghani el-Gammasy, Abdul Munim... The Yom Kippur War (also known as the 1973 Arab-Israeli War, the October War and Ramadan War), was fought from October 6 (the day of Yom Kippur) to October 22/24, 1973, between Israel and a coalition of Egypt and Syria. ... is the 290th day of the year (291st in leap years) in the Gregorian calendar. ... For the song by James Blunt, see 1973 (song). ... is the 77th day of the year (78th in leap years) in the Gregorian calendar. ... Year 1974 (MCMLXXIV) was a common year starting on Tuesday (link will display full calendar) of the 1974 Gregorian calendar. ... is the 7th day of the year in the Gregorian calendar. ... Year 1975 (MCMLXXV) was a common year starting on Wednesday (link will display full calendar) of the Gregorian calendar. ... Pumpjack pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and elaion – oil or Latin oleum – oil ) or crude oil is a thick, dark brown or greenish liquid. ... New international economic order is a set of proposals put forward during the 1970s by developing countries through UNCTAD to promote their interests by improving their terms of trade, increasing development assistance, developed-country tariff reductions, and other means. ... This article is about the capital of Algeria. ... For the American pop-punk band, see Cartel (band). ...


Since currently worldwide oil sales are denominated in U.S. dollars, changes in the value of the dollar against other world currencies affect OPEC's decisions on how much oil to produce. For example, when the dollar falls relative to the other currencies, OPEC-member states receive smaller revenues in other currencies for their oil, causing substantial cuts in their purchasing power. After the introduction of the euro, pre-invasion Iraq decided it wanted to be paid for its oil in euros instead of US dollars causing OPEC to consider changing its oil exchange currency to euros, although after Iraq's invasion, the interim government reversed this policy, and the subsequent Iraq governments stuck to the US dollar.[16] Member states Iran[17] and Venezuela[18] have undergone similar shifts from the dollar to the Euro. The United States dollar is the official currency of the United States. ... For other uses, see Euro (disambiguation). ...


Current quotas

OPEC Quotas and Production in thousands of barrels per day [19]
Country Quota (7/1/05) Production (1/07) Capacity
Algeria 894 1,360 1,430
Angola 1,900 1,700 1,700
Ecuador 520 500 500
Iran 4,110 3,700 3,750
Iraq 1,481
Kuwait 2,247 2,500 2,600
Libya 1,500 1,650 1,700
Nigeria 2,306 2,250 2,250
Qatar 726 810 850
Saudi Arabia 10,099 8,800 10,500
United Arab Emirates 2,444 2,500 2,600
Venezuela 3,225 2,340 2,450
Total 31,422 30,451 32,230

Using quotas to help mitigate global warming

As fossil fuel consumption produces large amounts of CO2 and other greenhouse gases, it has been proposed that if OPEC and the IEA established the proper production quota system, global warming effects could be reduced[20]. Greenhouse gases are gaseous components of the atmosphere that contribute to the greenhouse effect. ... IEA Logo Map of members The International Energy Agency (IEA, or AIE in Romance languages) is a Paris-based intergovernmental organization founded by the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the oil crisis. ... Global warming refers to the increase in the average temperature of the Earths near-surface air and oceans in recent decades and its projected continuation. ...


Membership

OPEC countries      Current member states      Former member states
OPEC countries      Current member states      Former member states

The organization now has 13 member states. They are listed below with their affiliation dates. Note that although the effective official language of a 7-nation majority of OPEC member-states is Arabic, OPEC's official language is English. OPEC started out with 5 founding countries, but has since then added 9. Image File history File links Download high resolution version (4500x2234, 205 KB) Summary Shows w:Organization of the Petroleum Exporting Countries countries. ... Image File history File links Download high resolution version (4500x2234, 205 KB) Summary Shows w:Organization of the Petroleum Exporting Countries countries. ... Arabic can mean: From or related to Arabia From or related to the Arabs The Arabic language; see also Arabic grammar The Arabic alphabet, used for expressing the languages of Arabic, Persian, Malay ( Jawi), Kurdish, Panjabi, Pashto, Sindhi and Urdu, among others. ... An official language is a language that is given a special legal status in the countries, states, and other territories. ... The English language is a West Germanic language that originates in England. ...

Africa
Middle East
South America
Former members
  • Flag of Gabon Gabon (full member from 1975 to 1995)
  • Flag of Indonesia Indonesia ( member from December 1962 - December 2008 )
Prospective members

The economy of Africa consists of the trade, industry, and resources of the peoples of Africa. ... Image File history File links Flag_of_Angola. ... Image File history File links Flag_of_Libya. ... Image File history File links Flag_of_Nigeria. ... Image File history File links Flag_of_Algeria. ... A map showing countries commonly considered to be part of the Middle East The Middle East is a region comprising the lands around the southern and eastern parts of the Mediterranean Sea, a territory that extends from the eastern Mediterranean Sea to the Persian Gulf. ... Image File history File links Flag_of_Iran. ... Image File history File links Flag_of_Iraq. ... Image File history File links Flag_of_Kuwait. ... Image File history File links Flag_of_Qatar. ... Image File history File links Flag_of_Saudi_Arabia. ... Image File history File links Flag_of_the_United_Arab_Emirates. ... South America South America is a continent crossed by the equator, with most of its area in the Southern Hemisphere. ... Image File history File links Flag_of_Ecuador. ... Image File history File links Flag_of_Venezuela. ... Image File history File links Flag_of_Gabon. ... Image File history File links Flag_of_Indonesia. ... Image File history File links Flag_of_Bolivia. ... Image File history File links Flag_of_Sudan. ... Image File history File links Flag_of_Syria. ... Image File history File links Flag_of_Brazil. ...

See also

Energy Portal

Image File history File links Crystal_128_energy. ... Below is a list with each Secretary General of Organization of Petroleum Exporting Countries (OPEC). ... The chart below shows the millions of barrels of crude oil and related products (refined diesel and gasoline, LPG, etc. ... Countries producing oil This is a list of states that extract crude oil from oil wells. ... This article is about energy crises in general. ... (Redirected from 1973 energy crisis) United States, drivers of vehicles with odd numbered license plates were allowed to purchase gasoline only on odd-numbered days of the month, while drivers with even-numbers were limited to even-numbered days. ... Line at a gas station, June 15, 1979. ... Julian Simon and Paul Ehrlich entered in a famous wager in 1980, betting on a mutually agreed upon measure of resource scarcity over the decade leading up to 1990. ... The Hubbert peak theory posits that for any given geographical area, from an individual oil field to the planet as a whole, the rate of petroleum production tends to follow a bell-shaped curve. ... IEA Logo Map of members The International Energy Agency (IEA, or AIE in Romance languages) is a Paris-based intergovernmental organization founded by the Organisation for Economic Co-operation and Development (OECD) in 1974 in the wake of the oil crisis. ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... Gasoline, as it is known in North America, or petrol, in many Commonwealth countries (sometimes also called motor spirit) is a petroleum-derived liquid mixture consisting primarily of hydrocarbons, used as fuel in internal combustion engines. ... Tree limbs create a short circuit in electrical lines during a storm that spawned two tornadoes. ... Renewable energy effectively utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. ... Prince Manucher Mirza was born in Tehran in 1917. ... The Strategic Petroleum Reserve (SPR) is an emergency petroleum store maintained by the United States Department of Energy. ... Petrocurrency is the currency of a country with oil to export, for instance, Saudi Arabian riyals. ... OAPEC was established in 1968 with permanent headquarters in Kuwait It is an instrument of Arab cooperation whose objective is to provide support to the Arab oil industry. ... OAPEC (Organization of Arab Petroleum Exporting Countries) is a multi-governmental organization which coordinates energy policies in Arab nations. ... Price fixing is an agreement between business competitors to sell the same product or service at the same price. ... Petrodollar warfare is a hypothesis that many international manœuvres in recent decades are taken to support the current dollar hegemony over other currencies. ...

Petroleum industry writers/commentators

Colin J. Campbell, Ph. ... Kenneth S. Deffeyes is a geologist who worked with M. King Hubbert of Hubberts peak fame, at the Shell Oil Company research laboratory in Houston, Texas. ... Daniel H. Yergin (born February 6, 1947) is an American author and economic researcher. ...

Articles from the Secretaries General of OPEC

  • Find Articles from Dr. Rilwanu Lukman (1999-200), Dr. Alí Rodríguez-Araque (Jan 2001 – 30 Jun 2002), and Adnan Shihab-Eldin (Kuwait), (acting for Al Sabah): (1 Jan 2005 – present)

Books covering aspects of the subject

The Prize (1991; ISBN 0671502484) is Daniel Yergins 800-page history of the global oil industry from the 1850s through 1990. ... Daniel H. Yergin (born February 6, 1947) is an American author and economic researcher. ... Confessions of an Economic Hit Man (ISBN 0-452-28708-1) is a book written by John Perkins and published in 2004. ... Confessions of an Economic Hitman John Perkins (b. ...

Notes

  1. ^ BBC NEWS | Business | Opec: The oil cartel
  2. ^ OPEC, by Benjamin Zycher: The Concise Encyclopedia of Economics: Library of Economics and Liberty
  3. ^ Chapter I, Article 2 of The Statute of the organization of the Petroleum Exporting Countries (as amended)
  4. ^ BP plc. "British Petroleum table of world oil production". Retrieved June 18, 2007.
  5. ^ Al Jazeera English - Archive - Is Opec Losing Control Over Oil Price?
  6. ^ BW Online | January 20, 2003 | Is OPEC About to Lose Control of the Spigot?
  7. ^ OPEC, by Benjamin Zycher: The Concise Encyclopedia of Economics: Library of Economics and Liberty
  8. ^ Ecuador Set to Leave OPEC - New York Times
  9. ^ Angola to join Opec on January 1: South Africa: News: International: Fin24
  10. ^ Noah, Timothy (2007-07-10). Go NOPEC! Congress takes on the biggest, baddest cartel of all. Slate. Retrieved on 2007-07-11.
  11. ^ Angola, Sudan to ask for OPEC membership Houston Chronicle
  12. ^ Quoted in Walter LaFeber, Russia, America, and the Cold War (New York, 2002), p. 292.
  13. ^ http://www.eia.doe.gov/emeu/cabs/OPEC_Revenues/OPEC.html
  14. ^ [1]
  15. ^ http://fmwww.bc.edu/EC-P/WP318.pdf
  16. ^ Iraq: Baghdad Moves To Euro
  17. ^ Iran's euro-denominated oil bourse to open in March: US Dollar Crisis on the Horizon
  18. ^ Bloomberg.com: Latin America
  19. ^ Quotas as reported by the United States Department of Energy
  20. ^ Climate Control: a proposal for controlling global greenhouse gas emissions (PDF). Sustento Institute. Retrieved on 2007-12-10.
  21. ^ OPEC accepts Ecuador as active member
  22. ^ OPEC to Step Up by New Members - Kommersant Moscow
  23. ^ Brazil dances with OPEC

BP plc (LSE: BP, NYSE: BP, TYO: 5051 ), originally British Petroleum, is a British energy company with headquarters in London, one of six vertically integrated private sector oil, natural gas, and petrol (gasoline) supermajors in the world. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 191st day of the year (192nd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 192nd day of the year (193rd in leap years) in the Gregorian calendar. ... The United States Department of Energy (DOE) is a Cabinet-level department of the United States government responsible for energy policy and nuclear safety. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 344th day of the year (345th in leap years) in the Gregorian calendar. ...

External links

This monthly magazine is not to be mistaken for the daily Le Monde. Le Monde diplomatique (nicknamed Le Diplo by its French readers) is a monthly publication offering analysis and opinion on politics, culture, and current affairs. ...


  Results from FactBites:
 
OPEC - Wikipedia, the free encyclopedia (801 words)
For example, in the 1973 energy crisis OPEC refused to ship oil to western countries that had supported Israel in the Yom Kippur War or October War with Egypt and Syria.
At that time, OPEC nations—including many who had recently nationalized their oil industries—joined the call for a new international economic order to be initiated by coalitions of primary producers.
In August 2004, OPEC began communicating that its members had little excess pumping capacity, indicating that the cartel was losing influence over crude oil prices.
OPEC - definition of OPEC in Encyclopedia (610 words)
The OPEC headquarters is situated in Vienna, Austria.
A good example of this influence is the 1973 energy crisis, in which OPEC refused to ship oil to western countries who had supported Israel in its conflict with Egypt, the Yom Kippur War.
As of August 2004, OPEC has been communicating that its members have little excess pumping capacity, indicating that the cartel is losing influence over crude oil prices.
  More results at FactBites »

 
 

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