What are the guardianship countries. Organization of the Petroleum Exporting Countries (PEC): organizational characteristics and goals of functioning

What is OPEC? The name of this organization is often mentioned in the media. What is the purpose of its creation? What tasks are being solved? What countries are included? What does the basket mean and why are quotas needed for OPEC countries? How does OPEC affect the economy in the global aspect? Are there any problems in relations with Russia? There are many questions. Let's consider the answers.

What does OPEC mean: the concept and decoding of the abbreviation OPEC

The states involved in the extraction and export of "black gold" in the second half of the last century united in an international cartel. This organization was abbreviated as OPEC. it English version abbreviations. In the Russian free interpretation, the abbreviation OPEC means: the union of countries exporting oil. As you can see, the name is unpretentious, but the idea is clear.

What is the purpose of the Organization of the Petroleum Exporting Countries: Functions and Tasks of OPEC
Date of creation - September 60 of the last century. The initiative came from just five states - the five major oil exporters of that period.

What happened on the world stage in those years:

• Liberation of colonies or dependent regions from the pressure of mother countries.
• Dominance in the oil market belonged to Western companies that offered to lower the price of oil.
• There was no acute shortage of oil. Available offers clearly prevailed over demand.

That is why it was important for the countries that established OPEC to control their resources, get out of the sphere of influence of large cartels, and prevent the decline in the cost of oil on a global scale. The development of their economy completely depended and depends, to this day, on the volume of oil sold.

The main goals of the organization have not changed even now, OPEC was created to perform two functions:

1. To control Natural resources national importance.
2. by monitoring pricing trends in the core area.

In other words, what does ORES do:

• Coordinates and unifies the oil policy of the member countries.
• Protects the interests of OPEC members by identifying the most effective safeguards, which may look like individual or collective means.
• In addition, the organization is developing the infrastructure of oil supplies, is engaged in a competent investment of profits received from oil exports.

OPEC actively cooperates with states that are not members of this structure. The purpose of communication is the implementation of proposals aimed at stabilizing the global oil market.

How OPEC Works: Principles and Structure of OPEC

The Conference is the leading governing body of OPEC. It is attended by representatives of the participating States. The work or convening of the Conference is held twice a year.

This format includes consideration of the following questions:

1. Admission to the organization of new members, that is, states.
2. Approval of the budget and financial report.
3. Personnel appointments - nominations of the head of the Board of Governors, the Secretary General, his deputies and the Audit Commission are approved.
4. Discussion of strategic and other issues.

The Board of Governors has the right:

• Engage in the formulation of relevant topics for the Conference.
• Control the implementation of the decisions made.
• Manage the Secretariat, a body that operates permanently.

The secretariat consists of specialized departments, toEach deals with profile issues:

1. administrative or economic.
2. legal or informational.
3. Technical.

Their functions: conducting research, preparing an annual budget, preparing various proposals.

The Secretariat office is located in the Austrian capital.

OPEC on the world map: a list of countries that are members of OPEC

Recall that the proposal to create the organization belongs to the five powers: Iran, Iraq, Saudi Arabia, Kuwait and Venezuela. These states became the first members of OPEC back in 1960.

Nine years later, membership in the organization was an important step for Qatar, Libya, Indonesia, the United Arab Emirates and Algeria. In the mid-70s, new members were accepted - Nigeria and Gabon, as well as Ecuador. As you can see, the geography of the continents has been steadily expanding. It was during this period that the influence of the organization on the oil market increased. This became possible thanks to the control of the extraction of "black gold" by government agencies belonging to the OPEC member states.

After some time, Gabon withdrew from OPEC, and although Ecuador remained, it is not engaged in activities, it is simply suspended. But a new participant appeared, Angola became him.

There are 12 countries in the structure of OPEC. Why is Russia not among them? The reasons are mostly historical. The USSR at the time of the creation of the organization did not belong to the role key player in the production and sale of oil.

OPEC activity - what are quotas for and what does the OPEC basket mean

The essence of OPEC's activities is to regulate the oil market on a global scale.

The mechanism looks quite simple:

• For the member states of the organization, a total limit (quota) for the production of energy is established. This indicator is regularly adjusted. The reason for the change is the current price of oil on the market.
• The total limit is distributed among the members of the organization.
• The established quotas are strictly controlled by the OPEC representatives.

Quota - the value of the daily volume of oil produced . Each state has its own figure, which changes periodically. A decrease in quotas indicates an increase in prices, which is caused by an increased deficit. Quotas that have remained at the same level or increased, change the trend of prices in the direction of their reduction.

How is the price of “black gold” determined for OPEC members? There are price points. One of them is called a "basket", that is, the cost of some brands of oil produced in various OPEC member countries are summed up, the amount is divided by the number of terms. The result is an arithmetic mean. AT this case this is the basket.

For reference . The name of the oil often reflects the country in which it was produced and the type of product. It can be "light" or "heavy" type. Here's a good example: Iran Heavy is a heavy grade of Iranian oil.

If you remember the maximum value of the basket, then you need to return to the crisis year of 2008. At that time, the figure rose to $140.73.

How does OPEC influence the global market? Relations between OPEC and Russia

OPEC has the status of an intergovernmental level. This rank allows the organization to influence the global political arena. An official link has been established with the UN. From the first years of activity, contact has been established between the OPEC Councils and the UN. OPEC is a regular participant in the UN Trade Conferences.

Holding several annual meetings with the presence of ministers of OPEC member states also contribute to the development of joint strategic plans for further work in a broad market.

Russia is on a par with OPEC members among the leading suppliers of "black gold" .

There have been periods of serious confrontation between them in the past. So, at the beginning of this century, OPEC addressed Moscow with a demand to reduce oil sales. Although the available statistics did not record a decrease in volumes exported from Russia. On the contrary, they only increased.

Since the mid-2000s, when rapid growth oil prices, the confrontation between the Russian Federation and OPEC has come to an end. Now the relationship is exclusively constructive, which is expressed in holding consultations on "oil" issues at the highest level. The coincidence of strategic interests in the circle of oil sellers looks quite logical.

What awaits OPEC in the near future: problems and prospects for OPEC

The countries included in the organization are characterized by polarity of interests.

Just two examples:

1. The states located on the Arabian Peninsula have a small population, but have a large supply of oil. They direct large foreign investments for the development of deposits.
2. In Venezuela, the situation is different - a large and impoverished population. Expensive development programs are being implemented, there are huge debts. Therefore, the state is forced to sell oil in large quantities.

In addition to the above, OPEC must reckon with a number of other problems:

• OPEC quota agreements are frequently violated. There is no regulated control mechanism.
• The implementation of large-scale oil production by states that are not members of OPEC (Russia, the USA, China, Canada, and so on) reduced the influence of the united exporters on the world market.
• Oil production is complicated by political instability. Suffice it to recall Iraq and Libya, the instability of the political system in Nigeria, the turbulent situation in Venezuela and the sanctions against Iran.

In addition, there is some uncertainty about the future.

Much depends on the further development of energy:

1. The introduction of alternative energy sources will reduce the influence of OPEC on the world economy.
2. From official sources, there are forecasts predicting the primacy of "black gold" as the main resource for energy production. In this situation, successful activity is guaranteed - the depletion of oil fields is expected only after 35 years.

The vagueness of prospects is complicated by the current geopolitical situation in the world. The creation of OPEC took place in conditions of a relative balance of power - there were two opposing sides: the socialist camp and the capitalist powers. The current monopolarity greatly increases instability. The United States is increasingly taking on the functions of a "world policeman" in relation to states that are "guilty" of something; the actions of Islamic fundamentalists are generally difficult to calculate. Such factors only weaken OPEC. Besides,

Definition and background: The Organization of the Petroleum Exporting Countries (OPEC) is interstate organization, currently made up of fourteen oil exporting countries that cooperate to coordinate their oil policies. The organization was formed in response to the activities and practices of seven major international oil companies known as the "Seven Sisters" (among them British Petroleum, Exxon, Mobil, Roya, Dutch Shell, Gulf Oil, Texaco and Chevron). The activities of corporations often had a detrimental effect on the growth and development of the oil-producing countries whose natural resources they exploited.

The first step towards the creation of OPEC can be traced back to 1949, when Venezuela approached four other developing oil-producing countries - Iran, Iraq, Kuwait and Saudi Arabia - to offer regular and closer cooperation on energy issues. But the main impetus for the birth of OPEC was an event that occurred ten years later. After the “seven sisters” decided to lower the price of oil, without first agreeing this action with the heads of state. In response, several oil-producing countries decided to hold a meeting in Cairo, Egypt, in 1959. Iran and Venezuela were invited as observers. The meeting adopted a resolution requiring corporations to consult oil-producing governments in advance before changing oil prices. However, the "seven sisters" ignored the resolution, and in August 1960 they again lowered oil prices.

Birth of OPEC

In response, five of the largest oil-producing countries held another conference on September 10-14, 1960. This time the meeting place was Baghdad, the capital of Iraq. The conference was attended by: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela (founding members of OPEC). That's when OPEC was born.

Each country sent delegates: Fuad Rouhani from Iran, Dr. Talaat al-Shaybani from Iraq, Ahmed Syed Omar from Kuwait, Abdullah al-Tariqi from Saudi Arabia, and Dr. Juan Pablo Perez Alfonso from Venezuela. In Baghdad, the delegates discussed the role of the "seven sisters" and the hydrocarbon market. The oil producers were in dire need of an organization to protect their most important natural resources. Thus, OPEC was established as a permanent intergovernmental organization with its first headquarters in Geneva, Switzerland. In April 1965, OPEC decided to transfer administration to Vienna, the capital of Austria. The host agreement was signed and OPEC moved the office to Vienna on September 1, 1965. After the establishment of OPEC, the governments of OPEC member countries take strict control of their natural resources. And in subsequent years, OPEC began to play a more important role in the global commodity market.

Oil reserves and production levels

The scale of influence of individual OPEC members on the organization and on the oil market as a whole usually depends on the levels of reserves and production. Saudi Arabia, which controls about 17.8% of the world's proven reserves and 22% of OPEC's proven reserves. Therefore, Saudi Arabia plays a leading role in the organization. At the end of 2016, the volume of world proven oil reserves amounted to 1.492 billion barrels. oil, OPEC accounts for 1.217 billion barrels. or 81.5%.

WORLD PROVEN OIL RESERVES, BN. BARR.

Source: OPEC

Other key members are Iran, Iraq, Kuwait and the United United Arab Emirates, whose combined reserves are significantly higher than those of Saudi Arabia. Kuwait, with a small population, has shown a willingness to cut production in relation to the size of its stocks, while Iran and Iraq, with growing populations, tend to produce at levels above their stocks. Revolutions and wars have disrupted the ability of some OPEC members to consistently maintain high levels of production. OPEC countries account for about 33% of world oil production.

Major non-OPEC oil producing countries

USA. The United States is the leading oil producing country in the world with an average production of 12.3 million barrels. oil per day, which is 13.4% of world production according to British Petroleum. The United States is a net exporter, meaning exports have exceeded oil imports since the start of 2011.

Russia remains one of the largest oil producers in the world, averaging 11.2 million barrels in 2016. per day or 11.6% of the total world production. The main regions of oil production in Russia are Western Siberia, the Urals, Krasnoyarsk, Sakhalin, the Komi Republic, Arkhangelsk, Irkutsk and Yakutia. Most of it is mined at the Priobskoye and Samotlor deposits in Western Siberia. The oil industry in Russia was privatized after the collapse of the Soviet Union, but within a few years the companies returned to state control. The largest companies oil producers in Russia are Rosneft, which acquired TNK-BP, Lukoil, Surgutneftegaz, Gazpromneft and Tatneft in 2013.

China. In 2016, China produced an average of 4 million barrels. oil, which accounted for 4.3% of world production. China is an oil importer as the country consumed an average of 12.38 million barrels in 2016. per day. According to the latest EIA (Energy Information Administration) data, about 80% of China's production capacity is onshore, the remaining 20% ​​is small offshore reserves. The northeast and north central regions of the country are responsible for the majority of domestic production. Regions such as Daqing have been exploited since the 1960s. Production from mature fields has peaked and companies are investing in technology to increase capacity.

Canada ranks sixth among the world's leading oil producers with an average production level of 4.46 million barrels. per day in 2016, representing 4.8% of world production. Currently, the main sources of oil production in Canada are the Alberta tar sands, the Western Canadian Sedimentary Basin and the Atlantic Basin. The oil sector in Canada has been privatized by many foreign and domestic companies.

Current members of OPEC

Algeria - since 1969

Angola - 2007-present

Ecuador - 1973-1992, 2007 - present

Gabon - 1975-1995; 2016–present

Iran - 1960 to present

Iraq - 1960 to present

Kuwait - 1960 to present

Libya - 1962-present

Nigeria - 1971 to present

Qatar - 1961-present

Saudi Arabia - 1960 to present

United Arab Emirates - 1967 to present

Venezuela - 1960 to present

Former members:

Indonesia - 1962-2009, 2016

(The Organization of the Petroleum Exporting Countries, OPEC) is an international organization created to coordinate sales and pricing of crude oil.

By the time OPEC was founded, there were significant surpluses of offered oil on the market, the appearance of which was caused by the start of development of giant oil fields - primarily in the Middle East. In addition, the market has entered Soviet Union, where oil production doubled from 1955 to 1960. This abundance has caused serious competition in the market, leading to a constant reduction in prices. The current situation was the reason for the unification of several oil exporting countries in OPEC in order to jointly oppose transnational oil corporations and maintain the required price level.

OPEC as a permanent organization was established at a conference in Baghdad on September 10-14, 1960. Initially, the organization included Iran, Iraq, Kuwait, Saudi Arabia and Venezuela - the initiator of the creation. The countries that founded the organization were later joined by nine more: Qatar (1961), Indonesia (1962-2009, 2016), Libya (1962), United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973) -1992, 2007), Gabon (1975-1995), Angola (2007).

Currently, OPEC has 13 members, taking into account the emergence of a new member of the organization - Angola and the return of Ecuador in 2007 and the return of Indonesia from January 1, 2016.

The goal of OPEC is to coordinate and unify the oil policies of member countries in order to ensure fair and stable prices for oil producers, efficient, economical and regular supplies of oil to consumer countries, as well as a fair return on capital for investors.

The organs of OPEC are the Conference, the Board of Governors and the Secretariat.

The supreme body of OPEC is the Conference of Member States, convened twice a year. It determines the main activities of OPEC, decides on the admission of new members, approves the composition of the Board of Governors, considers reports and recommendations of the Board of Governors, approves the budget and financial report, and adopts amendments to the OPEC Charter.

The executive body of OPEC is the Board of Governors, formed from governors who are appointed by states and approved by the Conference. This body is responsible for directing the activities of OPEC and for implementing the decisions of the Conference. Meetings of the Board of Governors are held at least twice a year.

The secretariat is headed by the Secretary General, who is appointed by the Conference for a term of three years. This body exercises its functions under the direction of the Board of Governors. It ensures the work of the Conference and the Board of Governors, prepares messages and strategic data, disseminates information about OPEC.

Supreme Administrative official OPEC is the Secretary General.

OPEC Acting Secretary General Abdullah Salem al-Badri.

The headquarters of OPEC is located in Vienna (Austria).

According to current estimates, more than 80% of the world's proven oil reserves are in OPEC member countries, with 66% of general reserves OPEC countries are concentrated in the Middle East.

The proven oil reserves of the OPEC countries are estimated at 1.206 trillion barrels.

As of March 2016, OPEC oil production has reached 32.251 million barrels per day. Thus, OPEC exceeds its own production quota, which is 30 million barrels per day.

Every person is well aware of the existence of oil and products produced on its basis. At the same time, even a schoolboy is aware that the extraction of black gold is carried out from the bowels of the earth. On the whole planet, as reality shows, there are not so many states on whose territory oil is produced. Most of them are called countries that are members of OPEC. We will consider them in this article.

basic information

So, before revealing the topic, we first find out what OPEC is in general. This abbreviation is translated from of English language stands for "Organization of the Petroleum Exporting Countries". In fact, this is a worldwide cartel, the main purpose of which was to regulate oil production, as well as control its price.

Key points

Countries that are members of OPEC this moment control about two-thirds of the world's oil reserves. The states of this organization account for within 40% of the total global production of black gold. It is worth noting that Canada and OPEC did not pass the peak of oil in the era of modernity, the composition of the countries of which will be given below. In turn, the Russian Federation reached its peak in 1988, far from us. The composition of OPEC at that time was initially somewhat different from the current one. The organization itself was formed during the Baghdad Conference, which took place from 10 to 14 September 1960. The initial members of the newly created structure were such states as Kuwait, Iraq, Iran, Saudi Arabia and Venezuela. By the way, it was the latter who initiated the creation of the cartel.

Interesting fact. Great Britain, Oman, Norway, Mexico, Brunei, and even the non-existent Soviet Union have never been part of OPEC.

History reference

By the time the first composition of OPEC was formed, the world market had a significant surplus of oil offered for sale. This surplus was formed largely due to the fact that the active development of simply colossal oil sources in the Middle East began. Also, the Soviet Union actively entered the world stage, which doubled the volume of black gold extracted from the bowels of the earth during the period from 1955 to 1960. This state of affairs led to a significant increase in competition in the world market, which quite logically ensured a constant reduction in prices.

It should be noted that at that time the world oil market was completely controlled by seven transnational corporations, which worked in the financial interests of exclusively Western powers. For the clear coordination of the affairs of these companies, the International Oil Cartel was created, which kept oil prices within 1.5-3 US dollars per barrel.

Thus, the creation of OPEC was primarily based on the fact that the leading oil exporters could most effectively coordinate their actions to prevent a decrease in world prices for oil products. Well, since in the era of the 1960s the world market was saturated with oil, the first task of OPEC was to agree on restrictions on oil production in order to stabilize prices.

Prerequisites

Before finding out which countries are members of OPEC, let's point out the fact that the first signs of the creation of this organization appeared back in the 1930s, when oil fields began to be developed in the Middle East. Practically the very first in the list of oil-bearing sources was Baghdad. In 1934, industrial production started in Bahrain, in 1936 in Kuwait, in 1938 - in Saudi Arabia, and after the Second World War - in other states.

Due to the fact that these powers did not have their own financial and human resources for oil production, foreigners were attracted to develop the subsoil. Five American companies were ahead of everyone in this matter: Exxon Mobil, Texaco, Mobil Oil, Standard Oil Company of California, and Gulf Oil. The British also joined in the face of British Petroleum.

The impudence of the so-called investors was so great that these people openly ignored the requirements and laws of those countries in whose territory they produced oil. Moreover, the Americans and the British began to control natural resources and economic activity powers that have oil in their land. And in 1960 there was the first serious victory of the states that opened their bowels to foreigners, since OPEC was created. This turn of events was largely facilitated by both the situation directly in the Middle East and the international economic situation.

At the same time, in most oil-producing countries, oil is the main source of attracting foreign currency. Due to the extremely backward structure of the economy, the foreign trade operations of these states are based on only one oil. For example, in the UAE, Libya and Saudi Arabia, the share of oil products in their own exports is 100%. In Iraq, this figure is 99%, Qatar - 98%, Kuwait, Iran, Nigeria - 93%, Algeria - 85%, Gabon - 77%, Indonesia - 69%.

The struggle for independence

The countries that make up OPEC today were dependent states half a century ago and therefore tried in every possible way to get rid of the foreign yoke. This situation, of course, contributed to a significant convergence of their interests. However, none of the oil states on their own could defeat the so-called investors. In particular, in 1951, Iran attempted to nationalize the Anglo-Iranian Oil Corporation on its territory, but immediately fell under crazy economic pressure from the United States, Great Britain and the International Oil Cartel, which was then still very strong.

Timid steps

Back in 1949, some rapprochement between the oil-producing countries took place at the initiative of Venezuela. This power made contact with the states of the Middle East and offered to find ways for further mutually beneficial cooperation. But unfortunately, at that time this idea failed, since the Arab partners were not yet really independent and had different monarchical regimes that were not very open to a full-fledged dialogue. Largely because of this, the Venezuelan initiative failed.

In 1959, the oil companies unilaterally lowered the price of raw materials. And therefore, only Venezuela lost at that moment colossal money for those times - 140 million dollars. This state of affairs led the oil exporters to unite and hold the First Arab Petroleum Congress, which was held in Cairo. Its participants demanded in the final resolution that the companies must consult with the leadership of the oil-producing powers before making any decision regarding the cost. It was also proposed to create an advisory commission on oil issues.

New player

On September 14, 1960, OPEC was established in Baghdad. The organization initially consisted of only five countries, but over the years expanded to 12. Each state in OPEC has won the right to independently control its natural resources and exploit them, taking into account exclusively national interests. On September 1, 1965, the Secretariat of this international organization.

How it works?

The composition of OPEC has changed several times over the years of its existence. However, always and to this day the main governing bodies of the organization are:

• Conference.
• Advice.
• Secretariat.

The conference is the most influential body, and the highest position is the general secretary. Twice a year there are business meetings of energy ministers and other relevant professionals. But in any case, the main task of these meetings is to determine the state of the international oil market. In addition, cartel members are developing a clear plan to keep the situation stable. Also Special attention is given to forecasting the future situation in the oil market.

Note that OPEC, consisting of 12 countries, owned most of the oil fields in the world. In the era of the 1990s, Gabon withdrew from the organization, and Ecuador independently decided to suspend its membership in this alliance until October 2007. The Russian Federation received observer status for the organization in 1998.

In the cartel there is such a thing as the "basket" of OPEC. In short, this term implies the arithmetic mean of the prices of those grades of oil that are produced on the lands of the member states of the organization.

Let's list the countries that are members of OPEC. The list of these powers today is as follows:

• Iran.
• Iraq.
• Kuwait.
• Algeria.
• Angola.
• Gabon.
• Libya.
• Qatar.
• Nigeria.
• Ecuador.
• Saudi Arabia.
• Equatorial Guinea.

Recent meetings

In early 2016, OPEC members met to reach an agreement that would satisfy all participants. However, the Saudis did not even hide that they did not even plan to discuss the reduction in the level of their own oil production. Iran was of the same opinion.

On the last day of November 2017, another meeting of the organization was held, but even then, again, it was not possible to reach an optimal agreement. In this regard, experts are of the opinion that oil prices in 2018 are unlikely to stabilize.

In 2015 Russian Federation It was proposed to join OPEC as a full-fledged member, but the former post-Soviet state responded with a decisive refusal.