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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: The 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 back issues of the

OPEC Bulletin

which are also 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 13 Members:

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

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

(2007). Ecuador joined OPEC in 1973, suspended its

Membership in 1992, and rejoined in 2007. Indonesia

joined in 1962, suspended its Membership on December

31,2008,reactivated iton January1,2016,butsuspended

itsMembershipagainonDecember31,2016.Gabonjoined

in 1975 and left in 1995; it reactivated its Membership on

July 1, 2016.

Cover

This month’s cover reflects the 2

nd

Meeting of

the Joint OPEC/Non-OPEC Ministerial Monitoring

Committee, held in Kuwait City, on March 26,

2017 (see feature starting on p4).

Cover top photo: Shutterstock.

O P E C

b u l l e t i n

Vol XLVIII, No 2, March/April 2017, ISSN 0474–6279

Conference Notes

CERAWeek

Symposium

IP Week

Visi t to Niger ia

Forum

Techni cal Meet ing

Stat ist ics Workshop

MDTC

L i t igat ion Seminar

Newsl ine

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12

18

22

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26

28

30

32

35

40

44

46

48

50

52

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JMMC holds second meeting in Kuwait: Members report high

level of conformity to oil production adjustments in February

CERAWeek 2017: Encouragement & engagement

IEA-IEF-OPEC holds seventh symposium on energy outlooks

BarkindomeetsAl-FalihandAramcoHead,visitsresearchcentre

IP Week keynote address, client briefing seminar and visit to

BP

Oil sector cannot afford another year of lost investment —

Barkindo

Al-Sada voted ‘Man of the Year’ for international oil

diplomacy

OPEC Secretary General pays first visit home to Nigeria since

assuming office

Barkindo thanks “people and nations” that helped OPEC’s

market rebalancing efforts

OPEC stresses importance of structured partnership for

global oil producers

IEA-IEF-OPEC Technical Meeting underscores value of

producer-consumer dialogue

UAE hosts Technical Workshop with OPEC Secretariat

17

th

MDTC draws on OPEC experience

OPEC holds first Litigation Seminar

Zanganeh stresses importance of South Pars projects to Iran

Saudi Arabia and China: Strategic ties reach new heights

Algeria’s Sonatrach planning to invest $50 billion in all

operations

Qatar set to develop new gas project in North Field

LNG trade in 2016 at new record, but faces investment

shortage

Shutterstock

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