OPEC
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60th OPEC Annivesary
OPEC Founders Achievements
TEHRAN (Shana) -- OPEC has turned 60. So long a time. Why was OPEC established? What has it brought to the five founding members?
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60th OPEC Annivesary
OPEC Turns 60; Achievements, Survival and Challenges
TEHRAN (Shana) -- This year, the Organization of the Petroleum Exporting Countries (OPEC) is marking 60 years of its foundation. Every year an anniversary ceremony is held on September 14, i.e. the day of OPEC foundation, at the Secretariat of the Organization. In addition, this year a special ceremony was due to be held in Baghdad with OPEC Secretary General Mohammad Barkindo and heads of delegation of OPEC member countries in attendance to commemorate the 60th anniversary of OPEC establishment; however, despite all the required arrangements made by Iraq, due to global COVID-19 pandemic the ceremony was wisely agreed to be postponed to some other time.
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60th OPEC Annivesary
OPEC Challenges in its 60s
TEHRAN (Shana) -- The Organization of the Petroleum Exporting Countries (OPEC), established in 1960 at the initiative of Venezuela and in cooperation with Iran, Saudi Arabia, Iraq and Indonesia, has been faced with a flurry of challenges over the past six decades given the global economic and social developments and the growth of oil production from conventional sources from non-oil producers, such as the growth of North Sea output in the mid-1970s and the growth of oil production from unconventional sources (shale oil) in recent years.
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60th OPEC Annivesary
If only OPEC united against Political Saber-Rattling…
TEHRAN (Shana) -- The establishment of the Organization of the Petroleum Exporting Countries, or OPEC for short, 15 years after the end of World War II can be seen as a sign of the efforts of the founding countries to oppose and resist the extravagant behavior of major oil companies, or the famous seven sisters, at that time. In the years before foundation of OPEC, each of the founding countries, namely Iran, Venezuela, Iraq, Saudi Arabia and Kuwait, faced myriad political and social upheavals.
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OPEC's 60th Anniversary
VIENNA (Shana) -- OPEC has released a documentary about the 60th annivesary of its establishment.
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60th OPEC Annivesary
OPEC Secretary General Goodwill Message on 60th OPEC Anniversary
TEHRAN (Shana) -- OPEC Secretary General Mohammad Barkindo sent a goodwill message on the ocassion of the 60th anniversary of OPEC establishment.
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60th OPEC Annivesary
OPEC turns 60
TEHRAN (Shana) -- The Fourteenth of September 2020 is a very special day for OPEC. This sees the Organization celebrate its 60th anniversary. Few would have foreseen six decades ago that the Organization would have risen to the heights it has today in the global energy arena. Back then in Baghdad, the five Founding Fathers of OPEC, Juan Pablo Pérez Alfonzo of Venezuela; Abdullah al-Tariki of Saudi Arabia; Dr Tala’at al-Shaibani of Iraq; Dr Fuad Rouhani of Iran; and Ahmed Sayed Omar of Kuwait gathered together in the Al-Shaab Hall in Baghdad, to midwife OPEC into the world.
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60th OPEC Annivesary
Commitment & Cooperation
VIENNA (Shana) -- Back in March and April, the world faced its largest oil demand shock in living memory. On days in April, demand was 23 million barrels a day (mb/d) below that of 2019, the WTI May futures price contract went negative on April 20 and the global economy seemed to be teetering on abyss. Every producer was impacted, no one was immune.
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JMMC reiterates the importance of attaining full conformity for market stability
VIENNQ (Shana) -- The 21st Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday 19 August 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.
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Iran: “OPEC Performed Well in Oil Market.”
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the Organization of the Petroleum Exporting Countries (OPEC) had performed well in the oil market given the increase and stabilization of oil price in the market.
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JMMC sees improving market conditions and conformity levels
VIENNA (Shana) -- The 20th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 15 July 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.
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Market rebalancing, full commitment to conformity remains the focus – JMMC
VIENNA (Shana) -- The 19th Joint Ministerial Monitoring Committee (JMMC) was held via videoconference, on Thursday, 18 June 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.
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OPEC and a Bug called "Sloppiness"
TEHRAN (Shana) – The Organization of the Petroleum Exporting Countries (OPEC) is preparing for its 60th anniversary celebrations in September, marking one of the most volatile times in recent years. Although OPEC Secretariat has not been very agile and orderly in recent months, at least over the years since I started observing the Organization’s moves, and it is exhibiting signs of severe sloppiness which has not been hidden in the eyes of most local and foreign observers.
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CORRECTED--OPEC Partners Agree to Extend 9.6 mb/d Output Cut
TEHRAN (Shana) -- Non-OPEC ministers gave the nod to OPEC’s earlier proposal for extending for another one month the previously reached agreement on cutting 9.6 mb/d from their output in a bid to help shore up prices.
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Zangeneh: Oil Price Balance Tied to Global Economic Recovery
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh said on Saturday that balance would be back to the oil market once the entire global economy would recover.
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Iran: OPEC to Keep Cutting Output If Non-OPEC Agrees
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh said OPEC ministers agreed on Saturday to continue cutting 9.7 mb/d from their output provided that non-member allies follow suit.
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Iran Names New OPEC Governor
TEHRAN (Shana) -- Iran’s deputy minister of petroleum for international affairs, Amir-Hossein Zamani-Nia, has been accepted as the country’s new OPEC governor.
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Zangeneh Says Kazempour’s Death a “Major Loss”
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh on Saturday heaped praise on Iran’s deceased OPEC governor Hossein Kazempour Ardebili, saying his recent death was a “major loss” for the country.
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OPEC Ministers Meet to Decide Supply Cut
TEHRAN (Shana) -- OPEC ministers on Saturday came together on videoconference to discuss what policy to adopt on oil production in coming months amid falling demand due to the coronavirus outbreak.
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OPEC Conference and OPEC and non-OPEC Ministerial Meeting rescheduled to June 6
TEHRAN (Shana) -- The 179th Meeting of the OPEC Conference and the 11th OPEC and non-OPEC Ministerial Meeting that were originally planned for 9 and 10 June 2020, respectively, are now scheduled to take place via videoconference on Saturday, 6 June 2020.
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Sec. Gen. Opening Remarks at OPEC+ Technical Meeting
TEHRAN (Shana) -- Delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the 7th Technical Meeting of OPEC and non-OPEC Countries under the DoC, 4 June 2020, via videoconference.
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133rd Meeting of Economic Commission Board Convenes via Webinar
VIENNA--The 133rd Economic Commission Board (ECB) of OPEC has convened by Webinar in Vienna. The ECB is the economic and technical statutory think-tank of the Organization. It meets routinely before the ordinary Ministerial Conference held biannually in June and December. The Board comprises of the Secretary General as the Chairman and National Representatives as members.
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Iran Eyes 100 mt Petchem Output in 1399
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country’s petrochemical production capacity was planned to cross 10 million tons per year in the current Iranian calendar year which began on March 20.
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Secretariat Produces Footage of Late Kazempour Ardebili Photos at OPEC
TEHRAN (Shana) -- The Organization of the Petroleum Exporting Countries (OPEC) Secretariat has produced a video showing a number of images of late Hossein Kazempour Ardebili, senior Iranian energy strategist and Iran's OPEC Governor, in the organization. Mr. Kazempour died on Saturday at 68 after nearly two weeks in a coma caused by a severe stroke.
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IEF Secretary General Sends Letter of Condolences on Death of Veteran Iran OPEC Governor
TEHRAN (Shana) -- Sun Xiansheng, Secretary General of the International Energy Forum (IEF), sent a letter of condolences to Iranian Minister of Petroleum Bijan Zangeneh on the death of Hossein Kazempour Ardebili, Iran’s representative at the board of governors of the Organization of the Petroleum Exporting Countries (OPEC).
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Sec. Gen Sends Letter of Condolences to Zangeneh on Death of OPEC Governor
TEHRAN (Shana) -- Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), sent an official letter of condolences to the Iranian Minister of Petroleum Bijan Zangeneh to express his sorrow for the death of Hossein Kazempour Ardebili, Iran’s OPEC governor.
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Iran Mourns Loss of OPEC Boss
TEHRAN (Shana) -- Following are some of the historical photos of Hossein Kazempour Ardebili, veteran Iranian energy diplomat who died on Saturday after nearly two weeks in a coma. May Lord bless his soul in Heaven.
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Iran OPEC Boss Dies
TEHRAN (Shana) -- Iran's OPEC Governor Hossein Kazempour Ardebili died early Saturday after suffering a brain hemorrhage and spending nearly two weeks in a coma.
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Iran OPEC Boss in Coma after Brain Haemorrhage
TEHRAN (Shana) -- Iran's veteran OPEC Governor Hossein Kazempour Ardebili has slipped into a coma after a severe brain haemorrhage.