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Publishers

OPEC

Organization of the Petroleum Exporting Countries

Helferstorferstraße 17

1010 Vienna

Austria

Telephone: +43 1 211 12/0

Telefax: +43 1 216 4320

Contact: Editor-in-Chief, OPEC Bulletin

Fax: +43 1 211 12/5081

E-mail:

prid@opec.org

Website:

www.opec.org

Website:

www.opec.org

Visit the OPEC website for the latest news and infor-

mation about the Organization, and for back issues

of the

OPEC Bulletin,

which are available free of

charge in PDF format.

OPEC Membership and aims

OPEC is a permanent, intergovernmental Organization,

established in Baghdad, on September 10–14, 1960,

by IR Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Its

objective — to coordinate and unify petroleum policies

among its Member Countries, in order to secure a steady

income to the producing countries; an efficient, economic

andregularsupplyofpetroleumtoconsumingnations;and

a fair return on capital to those investing in the petroleum

industry. Today, the Organization comprises 14 Members:

Qatar joined in 1961; Libya (1962); United Arab Emirates

(Abu Dhabi, 1967); Algeria (1969); Nigeria (1971); Angola

(2007); Equatorial Guinea (2017). Ecuador joined OPEC in

1973, suspended its Membership in 1992, and rejoined in

2007.Indonesiajoinedin1962,suspendeditsMembership

on December 31, 2008, reactivated it on January 1, 2016,

but suspended its Membership again on December 31,

2016. Gabon joined in 1975 and left in 1995; it reactivated

its Membership on July 1, 2016.

Cover

This month’s cover reflects the 173

rd

Meeting

of the OPEC Conference held in Vienna,

Austria, November 30, 2017.

O P E C b u l l e t i n

Vol XLIX, No 1, December 2017–January 2018, ISSN 0474–6279

Conference Notes

ADIPEC

Dialogue

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30

36

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The 173

rd

Meeting of the OPEC Conference

3

rd

OPEC and non-OPEC Ministerial Meeting

Egypt and Turkmenistan attend OPEC Conference as observers

Khalid A Al-Falih: a successful 2017 Conference Presidency

Almarzooq: a year leading the JMMC

Al-Ghais: a year leading the JTC

Impressions of the Conference

Oil Ministers discuss market, investments, ‘Declaration of Cooperation’

Eng Carlos E Pérez, Ecuador

Eng Bijan Namdar Zanganeh, IR Iran

Dr Emmanuel Ibe Kachikwu, Nigeria

Dr Mohammed bin Hamad Al-Rumhy, Oman

Alexander Novak, Russian Federation

Khalid A Al-Falih, Saudi Arabia

Suhail Mohamed Al Mazrouei, United Arab Emirates

Irene Nafuna Muloni, Uganda

Celebrating cooperation

OPEC hosts 2

nd

Technical Meeting of OPEC and non-OPEC producing countries

ADIPEC 2017: Forging ties, driving growth

A unique perspective from space

Opening a new chapter in OPEC-China relations

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30

C o n t e n t s

38