Proven oil reserves, bn. barr

What it is?

Crude natural oil is a highly flammable liquid found in deep sediments and is well known for its use as a fuel and raw material for chemical production.

slide 3

Oil and gas have been known to mankind for several thousand years. Even in ancient times, oil and gas outlets were discovered in the basins of the Black and Caspian Seas and were used for heating, cooking, lubrication, as a cementing material and road surface, for sealing cracks and tarring ships.

A bit of history

slide 4

For several centuries BC. in China, drilling was carried out using bamboo pipes. However, systematic oil production in the world began only after 2000 years.

Petroleum geology emerged as a recognized science in the early 20th century. Since that time, a rapid increase in the number of specialists in oil and gas exploration began; thousands of geologists all over the world are currently searching for oil and gas.

slide 5

What is measured?

Per barrel (on average) 0.1360 tRussian Urals-33 0.1365 t Iranian Heavy-31 0.1381 t Iranian Light-34 0.1356 t Chinese Daqing-32 0.1373 t British Brent Blend-38 0.1324 t

slide 6

OPEC (OPEC, Organization of the Petroleum Exporting Countries) is an organization of oil exporting countries.

OPEC was established after the Seven Sisters, a cartel that united the companies British Petroleum, Chevron, Exxon, Gulf, Mobile, Royal Dutch Shell and Texaco and controlled the processing of crude oil and the sale of petroleum products around the world - unilaterally lowered the purchase price of oil, on the basis of which they paid taxes and interest for the right to develop natural resources to oil-producing countries. In the 1960s, there was an excess supply of oil on the world markets, and the purpose of the creation of OPEC was to prevent a further fall in prices.

Slide 7

OPEC was formed at an international conference in Baghdad, held on September 10-14, 1960. Initially, the organization included five countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Between 1960 and 1975 8 more countries were accepted: Qatar, Indonesia, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador and Gabon. In December 1992, Ecuador withdrew from OPEC, and in January 1995, Gabon was excluded from it.

Slide 8

Algeria
Venezuela
Indonesia
Qatar
Kuwait
Libya
Nigeria
Saudi Arabia

There are currently 11 countries in OPEC:

Slide 9

Oil-producing countries of the world (2005 data)

Slide 10

Despite the huge influence on the oil market, OPEC produces only 40% of the world's oil production. However, OPEC countries own 77% of the world's proven oil reserves. As a result, non-OPEC countries - Canada, Great Britain, Norway, Mexico, China, Russia and the United States - produce about 60% of oil, but their own reserves are rapidly depleted. As a result, in recent decades, the need to develop alternative sources energy.

Slide 11

At the same time, oil production increased most significantly compared to the previous month in Saudi Arabia- from 9.438 million to 9.540 million barrels per day, according to the report of OPEC experts.

The price of OPEC's oil "basket" as of October 21 was $52.47 (-0.38) per barrel. This is the lowest level in the last 13 weeks. Cheaper than now, "basket" last time cost on July 25, 2005. At that time, its official price was $52.07 per barrel.

slide 12

At present, the actual production of oil by the member countries of the world oil cartel is exactly 30.3 million barrels per day, although the total official quotas allocated by the decisions of the 130th Vienna Conference on March 31 current year, defined as 23.5 million barrels.

slide 13

World oil prices in January-September 2005 were at an extremely high level, and in recent months reached a historical high in nominal terms. On average, over the nine months of 2005, the level of world oil prices was 75% higher than the average level of the previous three years.

High growth rates of the global economy, in particular, the economies of the United States and China

Low free capacity for oil production

Slide 14

Hurricanes Katrina and Rita have recently had an upward impact on world oil prices, leading to a halt in production and damage to energy infrastructure in the Gulf of Mexico region.

slide 15

At the March (2005) OPEC conference, an increase in oil production by the member countries of the organization by 500,000 barrels per day was announced, but this measure had no visible effect on the dynamics of oil prices.

Russian oil industry

slide 16

Purnomo Yusgiantoro, Secretary General of OPEC:

“OPEC alone is not able to achieve stability in global energy markets and bring the current high oil prices back to normal. Without such countries - large oil producers and oil exporters as Russia, Norway, Mexico, Kazakhstan, Angola, Oman, the world cartel will not be able to cope with the problem of achieving stability in the world oil markets. But so far there is no movement forward from these states, although cooperation and coordination of many tactical actions are developing normally.

Slide 17

According to Federal Service According to state statistics, in 2004 Russia produced 458.7 million tons of oil, which is almost 9% more than in the past. This is an absolute record in the entire history of the domestic oil industry, including the Soviet period. More than half of the extracted raw materials were exported.

According to the analyst of FC "NIKOIL" Alexei Kormshchikov, by the end of this year Russia will extract 5-6% more oil from the bowels than in the past, but then the growth will stop altogether. “The problem is that the exploration of new deposits is carried out in insufficient volume, so there will be nothing to increase production,” the expert believes.

Slide 18

The development of the oil and gas sector of the Russian economy in January-September 2005 was characterized by the persistence of the growth trend in the production of oil and petroleum products that developed in 2000-2004, but the growth rate of oil production in 2005 fell sharply.

Slide 19

Slide 20

Russia exports the most oil.

The money earned for it "exports" too.

slide 21

Oil complex of Prikamye

LLC "LUKOIL-PERM" carries out search, exploration and production of oil and gas in 23 administrative regions Perm region.

The most active oil production is carried out in the Usolsky, Solikamsky, Kuedinsky, Chastinsky, Chernushinsky and Bardymsky regions. A total of 127 deposits are on the balance sheet of the OOO LUKOIL-PERM group.

slide 22

Oil production of the LUKOIL-Perm group in 2004-2005

slide 23

Oil production by LUKOIL-Perm enterprises in October 2005

slide 24

In total, for the period up to 2010 OOO LUKOIL-PERM plans to produce 68 million tons of oil.

Using the most modern technologies and the latest equipment allows LLC "LUKOIL-PERM" to carry out work to involve oil reserves located in nature protection zones. Involvement of deposits in nature protection zones will make it possible to additionally extract more than 3.2 million tons of oil by 2010.

Slide 25

Forecast for 2006

As the analysis of the situation on the world oil market shows, a number of factors will contribute to maintaining a high level of world oil prices in the near future.

Growth in global oil demand is forecast to be quite strong. According to the forecast of the US Department of Energy in 2006 the world demand for oil will increase by 1.9 million barrels. per day, or by 2.2% compared to 2005.

slide 26

As predicted, the increase in oil production in non-OPEC countries will not be able to meet world demand. Oil production outside OPEC in 2006, according to the forecast, will increase by 0.9 million barrels. per day compared to the previous year.

Slide 27

Free production capacity oil production, which has recently declined, is expected to remain low.

The refining and freight transport sectors are expected to remain under pressure due to capacity constraints.

Slide 28

Geopolitical risks such as instability in Iraq and possible problems in Nigeria and Venezuela, will keep the level of uncertainty in the global oil market high.

Significant growth in demand for oil will be due to high growth rates of the world economy.

Slide 29

Literature/Resources

Weekly "Everything is clear"

Weekly "Russian Newsweek"

Information and analytical newspaper "Dengi"

Oil and Capital, Nos. 9-10, 2005.

OAO LUKOIL

Polit.ru portal

Financial company "Profit House"

“Economic and political situation in Russia. October 2005". Journal of the Institute for the Economy in Transition.

Encyclopedia "Round the World"

slide 30

OIL (petroleum - from the Latin petra oleum, meaning literally "stone oil"): a flammable oily liquid that varies in color from yellow to black and is a liquid mixture of various natural hydrocarbons formed in layers of sedimentary rocks of the earth's crust.

Slide 31

The term "basket" OPEC (OPEC Reference Basket of crudes) was officially introduced on January 1, 1987. The price value of the "basket", in accordance with the decision of the 136th (extraordinary) session of the OPEC Conference, held on June 15, 2005. in Vienna, is defined as the arithmetic average of physical prices for the following 11 grades of oil produced by the cartel countries: Saharan Blend (Algeria), Minas (Indonesia), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and BCF 17 (Venezuela).

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HISTORY OF OPEC Organization exporting countries oil was founded at a conference in Baghdad on September 10-14, 1960 at the initiative of five developing oil-producing countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The purpose of the creation of the organization was the desire of the new independent states to gain control over their resources and their exploitation, taking into account national interests. In the 1960s, there was an excess supply of oil on the world markets, and therefore one of the goals of the creation of OPEC was to prevent a further fall in prices. OPEC developed its collective vision of oil production and created the organization's Secretariat, which was initially located in Geneva, and from September 1, 1965, in Vienna. In 1968, OPEC adopted the Declaration on the Petroleum Policy of the Member Countries of OPEC, which emphasized the inalienable right of all countries to exercise permanent sovereignty over their natural resources in the interests of their national development.

COMPOSITION Currently 13 countries are members of the organization Algeria Angola Venezuela Gabon Iran, Iraq, Kuwait, Qatar, Libya, United Arab Emirates, Nigeria, Saudi Arabia Ecuador

OPEC STRUCTURE Chief Secretary President Ministerial Conference of States (Board of Governors) Secretariat (three departments) Economic Commission

THE OBJECTIVE OF OPEC Member countries of OPEC control about 2/3 of the world's oil reserves. They account for 40% of world production or half of world oil exports. The peak of oil has not yet been passed only by the OPEC countries and Canada (from large exporters).

OBJECTIVES OF THE ORGANIZATION The purpose of OPEC is to coordinate activities and develop a common policy regarding oil production among participating countries organizations, maintaining stable oil prices, ensuring stable supplies of oil to consumers, obtaining a return on investment in the oil industry. Energy and oil ministers of the OPEC member states meet twice a year to assess the international oil market and forecast its development for the future. At these meetings, decisions are made on the actions to be taken to stabilize the market. Decisions on changes in oil production in accordance with changes in market demand are made at OPEC conferences.

OPEC BASKET The term "OPEC basket" was officially introduced on January 1, 1987. Its price value is the arithmetic average of spot prices for grades of oil produced by members of the organization. Arab Light (Saudi Arabia) Basra Light (Iraq) Bonny Light (Nigeria) Es Sider (Libya) Girassol (Angola) Iran Heavy (Iran) Kuwait Export (Kuwait) Merey (Venezuela) Murban (UAE) Oriente (Ecuador) Qatar Marine ( Qatar) Saharan Blend (Algeria)

RUSSIA AND OPEC Since 1998, Russia has been an observer in OPEC. Since this period, Russia has been participating in the sessions of the OPEC Conference, as well as in expert meetings and other events of the organization with representatives of countries that are not members of it. Russian ministers meet regularly with OPEC leaders and colleagues from OPEC countries. Russia took the initiative to organize a regular Russia-OPEC Energy Dialogue, to conclude an Agreement (Memorandum) on Energy Dialogue, the authorized representative of which from the Russian side will be the Ministry of Energy Russian Federation. Relations with Russia have a significant impact on the policy of the organization. Out of fear that Russia will increase its market share, OPEC refuses to cut production unless Russia does the same. This situation is the main obstacle to the recovery of world oil prices. In 2015, OPEC offered Russia to join it, but the country decided to remain an observer.

PROBLEMS OF OPEC COUNTRIES Problems of large-populated countries Irrational investment of money Backwardness of OPEC countries from the leading countries of the world Insufficient qualification of national personnel.

Ministry of Education and Science of Ukraine

Odessa State the University of Economics

Individual work on the topic:

"Analysis of the activities of OPEC as an international and supranational regulator of world trade"

Odessa-2010

INTRODUCTION

More than 4,000 international intergovernmental organizations are currently active. Their role in the global economy is difficult to overestimate.

Sooner or later, the states face the task of their interaction, the purpose of which is mutual assistance, as well as the solution of common problems in various fields of activity: political, economic, cultural, legal, scientific and technical, and others.

For example, to solve problems related to the facilitation of international trade, the General Agreement on Tariffs and Trade - GATT (WTO) was created, to solve the world food problem - the Food and Agriculture Organization (FAO), and to solve the problems of international settlements - the IMF.

Thus, in the late 1950s, the formation of the Organization of the Petroleum Exporting Countries (OPEC) was a natural way of developing the world economy. OPEC is a voluntary intergovernmental economic organization, whose task and main goal is to coordinate and unify the oil policy of its member states. OPEC is looking for ways to ensure the stabilization of prices for petroleum products in the world and international oil markets in order to avoid fluctuations in oil prices that have harmful consequences for OPEC member states. The main goal is also to return to Member States their investment in the oil industry with a profit. OPEC in modern conditions has a significant impact on the regulation of the world oil market by setting prices for it.

MAIN GOALS AND OBJECTIVES OF THE ORGANIZATION OF OIL EXPORTING COUNTRIES

With the start of oil production in the countries of the Middle East and Africa, the fields of these regions were in the category of the best. Extremely favorable natural conditions production (shallow depth of occurrence, the presence of flowing wells, etc.), along with low salary labor force led to a very low level of production costs in these regions.

By 1960, oil production in the capitalist countries reached 885 million tons, of which 496 million tons accounted for developing countries. 53% of this amount was provided by the countries of the Middle East, specific gravity which in world capitalist oil production increased from 17% in 1950 to 30% in 1960.

However big influence on the world economy from the International Oil Cartel, which was formed in 1928 by the seven largest oil companies: “Gulf oil”, “Standard oil”, “Mobil oil”, “Texaco”, “British petroleum”, “Royal Dutch” and “ France petrol”, did not allow these states to develop fully.

For a long period of time, mineral and agricultural raw materials were pumped out of the developing countries in large part by methods left over from the colonial period. Chief among them was the direct control of foreign capital over the production and export of raw materials in the form of concessions that were extremely disadvantageous for developing countries and monopolistically low purchase prices for exported raw materials.

For example, since the mid-1950s, an ever-increasing amount of oil produced in the Near and Middle East has been sent to the United States, where the cost of extracting its own oil was more than 10 times higher than in the Middle East countries. The influx of cheap oil, which allowed the monopolies to make super profits from the difference in production costs, contributed to the rapid growth of idle production capacity in the United States. American oil could not withstand the competition of cheap fuel imported from the countries of the Middle East and Africa. This prompted the US governments to introduce quantitative restrictions on imports from 1959 in the amount of 12.2% of the previous year's production. Under these conditions, the prices of actual oil transactions began to deviate more and more from the reference ones. In order to bring reference prices in line with the situation on the market, as well as in order to reduce payments to the governments of oil-producing countries, in 1959 the monopolies lowered reference prices for oil from Venezuela and the Middle East. Venezuela alone lost $140 million in 1959.

These and other actions of the international oil cartel caused sharp discontent in the Arab world and Venezuela, which contributed to the rapprochement of oil exporting countries.

It was necessary to radically change the whole situation on the world market. It was the real threat of further stabilization of the incomes of developing countries that was the decisive circumstance that persuaded the oil-producing countries to create a special body with the aim of collectively protecting their interests. At a conference convened at the initiative of the Iraqi government in September 1960 in Baghdad, the Organization of the Petroleum Exporting Countries was formed.

Currently, OPEC includes 11 countries: Algeria (since 1969), Indonesia (since 1962), Iraq (since 1960), Iran (since 1960), Kuwait (since 1960), Lebanon (since 1962), Nigeria (since 1971), Qatar (since 1961), Saudi Arabia (since 1960), United Arab Emirates (since 1967) and Venezuela (since 1960) .

OPEC is organized by oil exporting countries to fulfill the following main goals and objectives:

1. coordination and unification of the oil policy of member countries;

2. determination of the most effective collective and individual means of protecting their interests;

3. use the necessary means and methods to ensure price stability on the world oil market;

4. protecting the interests of oil-producing countries by providing them with sustainable incomes;

5. Ensuring efficient, regular and cost-effective oil supply to consumer countries;

6. ensuring that investors receive fair returns from investments in the oil industry;

7. Ensuring environmental protection;

8. cooperation with non-OPEC countries in order to implement initiatives to stabilize the world oil market.

The supreme body of OPEC is the Conference, which consists of delegations representing member states, headed by the ministers of the oil industry or energy. Meetings of the Conference are held twice a year at the headquarters of OPEC, located in the city of Vienna (Austria).

OPEC AND THE WORLD OIL MARKET

To weaken competition and conquer the world oil market in 1928, the seven largest oil companies: Gulf oil, Standard oil, Mobil oil, Texaco, British petroleum, Royal Dutch and France petrol formed a cartel that controlled almost the entire world oil market (according to 1965 data, the cartel had 79% of reserves and 60% of oil production in the capitalist world). The basis of their dominance was control over the sources of oil in developing countries in the form of concessions. They not only ensured the profits of the monopolies, but also guaranteed the imperialist states an uninterrupted supply of liquid fuel. By setting low prices, the cartel has achieved the expansion of sales markets and the reorientation of the world economy to liquid fuels.

Having divided sales markets, sources of raw materials among themselves and coordinating the size of production, cartel members for a long time almost single-handedly regulated the prices of the world market, forcing other competitors to follow. In addition, oil corporations controlled not only oil production, but also operations for the transportation, processing and marketing of liquid fuels.

For a long period until the end of the 1940s, oil prices were maintained by the cartel at a level that corresponded to the highest world production costs - in the worst US fields.

However, after the Second World War, the collapse began colonial system, after which the developing countries began to fight against their imperialist exploitation by the US and Western countries. An important component of this struggle is the movement of developing countries to win and consolidate national sovereignty over their most important natural wealth.

The struggle of this group was aimed primarily at changing the terms of concession agreements, which served as a serious brake on the economic development of oil-producing countries.

Regulations on the mandatory reduction of concession areas began to appear from the mid-1950s. But only after the formation of OPEC did the developing countries - exporters of petroleum fuels come to the realization of the need, first of all, to change in their favor the conditions of foreign concessions, which are the basis for the exploitation of these countries.

The first step of the governments of these countries was the organization of state oil companies. In 1960, a national company was formed in Kuwait, 1962 in Saudi Arabia, 1963 in Algeria, 1964 in Iraq. But the oil monopolies still maintained low prices on the world market. Then the leadership of the oil-producing countries moved to more decisive action. Early 70s. mining countries and processing enterprises of foreign monopolies were fully or partially nationalized on a reimbursable basis. In January 1973, agreements between Saudi Arabia, Qatar and Kuwait with nine oil monopolies came into force that the state would own 25% of the shares in subsidiaries producing on their territory, and 50% in 10 years.

The real result was visible already in 1974, when the concession system was liquidated in most of the oil-exporting countries and state control, albeit incomplete, was established over the oil industry.

According to various scientists, in mid-1974, 59% of all oil produced in them was under state control in the OPEC countries. Characteristically, in that period, as a result of nationalization, control was established over 32% of all production and, through the acquisition of equity participation in concessions, over 26%.

Having achieved a significant increase in the price of oil, developing countries have increased their income many times over. At this expense, the existing and built new oil-producing and oil-refining enterprises were re-equipped, other sectors of the economy were developed.

On the world oil market, two major centers- West and East.

This structure of the oil market has been preserved to this day, however, as a result of the coordinated policy of the OPEC member countries, the states of the Eastern Hemisphere currently have a much larger share in the world oil market than the countries of the Western Hemisphere.

Despite this, OPEC is not able to cope with the difficulties that it does face from time to time. In the world oil market today, such countries as the USA, Mexico, Russia and others also play an active role. OPEC has to reckon with these countries and negotiate cooperation in order to stabilize oil prices.

THE ROLE OF OPEC IN THE WORLD ECONOMY

In modern conditions, the volume of industrial production in the structure of world GDP is 60%, and industrial products in the structure of world trade - 70%. This shows that the development of the world economy directly depends on the development of industry. Wherein world industry depends on oil as one of the cheapest and most common sources of energy for industrial enterprises. Oil is also of great economic importance; the operation of road, air, sea and a significant part of rail transport depends on it. Therefore, we can safely say that the oil factor is essential in maintaining the stability of the global economy. economic system.

However, despite the importance of the oil factor, not every country that produces this type of raw material can really influence the world economy.

Currently on the world oil market real power capable of fully exploiting this factor is OPEC. By strictly regulating the extraction and export of oil, the OPEC countries have a real opportunity to dictate world oil prices, taking into account, first of all, their national interests. This possibility is the result of many factors.

First, the OPEC countries have the richest oil reserves, accounting for more than three-quarters of all proven world reserves.

Secondly, today OPEC produces about 24 million barrels of crude oil per day, providing about 40% of the world's supply.

Thirdly, the cost of oil production at OPEC fields is significantly lower than in other regions of the planet, so OPEC can quite easily change the level of oil production, both downward and upward. According to EIA (Energy Information Administration) estimates, without attracting significant investments, the oil cartel can increase oil production up to 35 million barrels per day. At the same time, investments in increasing the level of production by 1 barrel per day. are only about $2.8.

So, OPEC is really capable of influencing the level of oil prices, its role in the global economy is to maintain the stability of oil prices, balancing supply and demand by increasing or decreasing oil production.

However, for a more complete understanding of its role in the global economy, it is necessary to consider the functioning of the cartel in crisis situations.

In October 1973, the fourth Arab-Israeli war began. In response, OPEC first reduced and then completely imposed an embargo on oil exports to Israel's allies: the United States, Holland, Portugal, and South Africa.

These actions by OPEC, along with factors such as the boom in the capitalist economy, which caused a sharp increase in demand for oil, the speculative transactions of monopolies in oil inventories, the growing imbalance between supply and demand, all this inevitably led to the first energy crisis, which lasted five months. until March 18, 1974, while the cartel's embargo against the United States was in effect. During this time, prices soared from $4.5 to $12 per barrel.

The second crisis, which broke out in 1979, was even more dangerous. There was a revolution in Iran, and since April 1, OPEC has increased prices by 14.5%. This caused the market price to rise to $14.6 per barrel. Since July, the cartel has increased prices by another 15%. This was followed by the capture of Western hostages by Iran and the rupture of relations with the United States. At the same time, the actions of Saudi Arabia led to an increase in prices from $19 to $26 per barrel. In 1980, the Iran-Iraq war aggravated the situation. The Saudi Light blend rose to $34 per barrel, hitting its all-time high.

The first and second energy crises showed the low efficiency of OPEC's activities, and the lack of a well-oiled mechanism for coordinating the oil policy of its member countries. In both cases, the situation on the market developed spontaneously, with the participation of OPEC member countries, but not under the control of the organization as such.

But speaking of OPEC's inability or at least weak impact on the world economy during crises, it should be noted that its role in stabilizing oil prices in subsequent years is enormous. During the period of rising prices, total supplies from these countries remained virtually unchanged. It was this aspect that made it difficult for OPEC to intervene in the rapid development of energy crises. But in those moments - respectively, in 1975 and from the end of 1980 - when the reduction in demand caused by the rise in the price of liquid fuel began to be felt, the members of the association of oil exporters significantly reduced production and thereby set a new price level.

For 5 years, there was calm and a gradual decline in oil prices, but when in December 1985 OPEC sharply increased oil production to 18 million barrels per day, a real price war provoked by Saudi Arabia began. OPEC announced that it was abandoning the role of "regulator" of the market and decided to defend a higher market share. OPEC member countries have sharply increased oil production in their countries. However, the new strategy did not bring the expected success: within a few months, crude oil more than doubled in price from 27 to 12 dollars per barrel - the capitalist market was struck by another crisis - a crisis of overproduction.

The fourth oil crisis erupted in 1990. On August 2, Iraq attacked Kuwait, prices jumped from $19 a barrel in July to $36 in October. However, oil then fell to its previous level even before the start of Operation Desert Storm, which ended in the military defeat of Iraq and the economic blockade of the country, which continues to this day.

After the crisis in Southeast Asia in 1997. stock markets crashed all over the world. However, OPEC did not pay attention to the alarming symptoms. Moreover, at the November meeting it was decided to increase production by 10% - up to 27.5 million barrels per day. The whole untimeliness of this step was manifested in 1998, when the growth in the supply of oil against the background of a reduction in its consumption in Asia led to an increase in industrial oil reserves and a collapse in prices. For a whole year, OPEC could not turn the tide, and this called into question the very existence of the cartel. Twice in March and June, OPEC decided to cut production, but low discipline within the organization significantly undermined market confidence. By December 1998, prices were down to $10 a barrel, and US industrial stocks reached 330 million barrels. Only in March 1999, the cartel not only made a decision to reduce production, but also managed to fulfill it. Decrease in oil production from 25.5 million barrels per day. to almost 23, along with the recovery of the economies of Southeast Asia, have done their job. Almost the entire year after the historic decision, oil prices were constantly growing, and if in February 1999 Brent cost about $ 10 per barrel, then in March 2000 it was all 30.

The current situation shows that OPEC is more than ever interested in maintaining stability in the world oil market, firstly because the economies of some countries that have not completely recovered from the last crisis will not be able to endure another crisis. The existence of not only OPEC, but also the countries included in it, depends on the competent policy of this organization.

CONCLUSION

By uniting, the oil-exporting countries were able to resist the international oil cartel, fight against imperialist exploitation by the United States and Western countries, and ultimately oust the cartel from the world oil market, begin to manage their national wealth themselves, setting a “fair” price for it. However, having real power in the world oil market, OPEC not only failed to prevent oil crises, but also contributed to their growth through its actions.

At present, OPEC continues to play a huge role in the functioning of the world economy, but it is obvious that its role in the international arena is becoming lower and lower every year. This is due to many factors. Here are the main ones. First, due to the fact that even today OPEC is not able to cope with the fall in oil prices on its own, it has to seek support from other oil exporting countries, i.e., its dependence on other countries is increasing. Secondly, the recent rationalization in the use of natural resources and the transition to the use of alternative energy sources are leading to a reduction in demand for oil. Under these conditions, OPEC is pursuing a policy of reducing the production of "black gold". But, with a reduction in oil production in the OPEC member countries, the states that are not members of it, on the contrary, seek to increase production, gradually ousting OPEC from the world oil market.

In the long term (80-100 years), in my opinion, OPEC faces a much more serious problem: the depletion of natural resources. The economies of most OPEC countries are predominantly dependent on the oil factor. Most of the income these states receive from the sale of oil. Therefore, the economies of this group of countries must be urgently diversified, otherwise, with full exhaustion natural resources threaten their continued existence.

In addition, I believe that the collapse of the economies of states dependent on more than 70% of oil will occur much earlier than the actual depletion of natural resources. This is explained by the fact that soon (20–40 years) oil will no longer play the role of an energy source. And in this case, the need for the world market in liquid fuel will also disappear.

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Description of the presentation on individual slides:

PRESENTATION ON THE THEME: ORGANIZATION OF OIL EXPORTING COUNTRIES

HISTORY OPEC is a permanent intergovernmental organization. It was created by the five founding countries (Iran, Iraq, Kuwait, Saudi Arabia and Venezuela) in September 1960 during a conference in Baghdad. September 2015 — 55 years Opek

Currently, 12 countries are members of the organization: Saudi Arabia Iran Iraq Kuwait Qatar Libya United Arab Emirates Algeria Nigeria Ecuador Venezuela Angola The already mentioned founding countries were joined by: Qatar (in 1961), Libya (in 1962), United Arab Emirates ( in 1967), Algeria (in 1969), Nigeria (in 1971), Ecuador (in 1973), Angola (in 2007). At one time, this organization also included: Indonesia (from 1962 to 2009) and Gabon (from 1975 to 1994). Compound

OPEC STRUCTURE: Chief Secretary President Ministerial Conference of States (Board of Governors) Secretariat (three departments) Economic Commission

The goal of OPEC is to coordinate and unify the oil policy of the member countries of the organization in order to ensure fair and stable oil prices on the world market, efficient, economically justified and regular supplies of oil to consumer countries, as well as to provide investors who have invested their capital in the development of the oil industry a fair return on investment.

OBJECTIVES OF THE OPEC ORGANIZATION Coordination and unification of the oil policy of the member states. Determination of the most effective individual and collective means of protecting their interests. Ensuring price stability on world oil markets.

OBJECTIVES OF THE OPEC ORGANIZATION Attention to the interests of oil-producing countries and the need to ensure: 1. Sustainable income of oil-producing countries; 2. Efficient, cost-effective and regular supply of consumer countries; 3. Fair income from investments in the oil industry; 4. Protecting the environment for the benefit of present and future generations. 5. Cooperation with non-OPEC countries in order to implement initiatives to stabilize the world oil market.

OPEC BASKET The term "basket" OPEK was officially introduced on January 1, 1987. Its price value is the arithmetic average of spot prices for grades of oil produced by members of the organization. Arab Light (Saudi Arabia) Basra Light (Iraq) Bonny Light (Nigeria) Es Sider (Libya) Girassol (Angola) Iran Heavy (Iran) Kuwait Export (Kuwait) Merey (Venezuela) Murban (UAE) Oriente (Ecuador) Qatar Marine ( Qatar) Saharan Blend (Algeria)

WORLD OIL RESERVES

THANK YOU FOR YOUR ATTENTION! ?

Bakhmetova Elena Viktorovna
07.07.2016

Material Number: DB-139652

The author can download the certificate of publication of this material in the "Achievements" section of his website.

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Opec presentation

Presentation for a lesson in geography (1. Presentation on the topic.

Presentation on the topic: "Organization of Petroleum Exporting Countries". THE OBJECTIVE OF OPEC Member countries of OPEC control about 2/3 of the world's oil reserves. They account for 40% of world production or half of world oil exports. Presentation of the 10th grade on the topic: 'International organization OPEC The work was done by the Student of 10"B" class Evgenia Lipantyeva.'. OPEC) The Organization of the Petroleum Exporting Countries; abbreviated as OPEC, eng.

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Opec presentation

Pupil 1. 0 "b" class Batyarkin Alexander. Download for free and without registration. Members of this organization are countries whose economy largely depends on income from oil exports. OPEC member countries control about 2/3 of the world's oil reserves. They account for 4. These five countries that founded the organization were later joined by nine more: Qatar (1. Indonesia (), Libya (1.

United Arab Emirates (1. Algeria (1.96.9), Nigeria (1. Ecuador (, 2.00.

Gabon (), Angola (2. Currently, OPEC is 1. At these meetings, decisions are made on the actions to be taken to stabilize the market. Decisions on changes in oil production in accordance with changes in market demand are made at OPEC conferences.

To download this presentation, please recommend it to your friends in any social media. Then the download will start automatically! Here you can study and download a lesson presentation on the topic Characteristics of the OPEC countries for free. The class presentation on various topics contains 18 slides.

The Organization of the Petroleum Exporting Countries; From Published on 09/25/2013 - 18:16 - Latko Irina Ivanovna. Slide 18 OPEC, or the Organization of the Petroleum Exporting Countries (OPEC, The Organization of the Petroleum Exporting Countries) is a cartel. Presentation ‘International Organization of OPEC’. International organization OPEC, Lipantieva E., 10 b class.

OPEC (presentation) download. OPEC is an international intergovernmental organization (also called a cartel) created by oil-producing countries to stabilize oil prices. Presentation of the 10th grade on the topic: 'The international organization OPEC The work was done by the Student of 10"B" class Evgenia Lipantyeva.'. OPEC) The Organization of the Petroleum Exporting Countries; abbreviated as OPEC, English Annotation to the presentation. Presentation work on geography on the topic: 'OPEC oil industry and Russia', created by a student. Thanks to this work, we will learn what oil geology studies.OPEC includes 12 countries: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador. "International organizations".

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Opec presentation

Presentation ‘International Organization of OPEC’.

Lesson presentation for interactive whiteboard by geography (1. OPEC countries. Animated stencil. Dalnerechensk Primorsky Krai Slide 2.

Instruction The table shows the names of the countries of the world. According to the task, you need to click on the names of those states that are members of OPEC. When clicked, the color changes from black to red. To check the correctness of the completed task, click on the "Check" button. The resulting rectangle will cover the table. In small boxes, the names of the countries in red will show the correct answers, in black - not indicated by the student. Slide 3. Ecuador USA Algeria Russia Angola Kazakhstan Nigeria Brazil Kuwait Italy United Arab Emirates Libya Egypt France China Qatar Norway Argentina Mexico Iraq Venezuela Canada Indonesia Brunei Denmark Saudi Arabia India Germany Japan Iran Verification Slide 4.

Resources used Astvatsaturov G. O. Reception Stencil http: //rupresentations. Templates-fruit/1.

OPEC includes 12 countries: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador. Slide 17 from the presentation "International cooperation" to the lessons of economics on the topic "International organizations".
Annotation for the presentation. Presentation work on geography on the topic: ‘OPEC oil industry and Russia’, created by a student. Thanks to this work, we will learn what petroleum geology studies.
Posted on 25.09.2013 - 18:16 - Latko Irina Ivanovna. Slide 18 OPEC, or the Organization of the Petroleum Exporting Countries (OPEC, The Organization of the Petroleum Exporting Countries) is a cartel.
OPEC (presentation) download. OPEC is an international intergovernmental organization (also called a cartel) created by oil-producing countries to stabilize oil prices.

Presentation on the topic: OPEC oil industry and Russia. Download this presentation. OPEC) Organization of the Petroleum Exporting Countries (English The Organization of the Petroleum Exporting Countries; abbreviated as OPEC, English. Presentation for a lesson in geography (Grade 11) on the topic: Centers of Economic Power in Asia. You can view and download the Opec Presentation. The presentation contains 12 slides.Presentations for any class can be downloaded for free.If you liked the material and our presentation site.

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Opec presentation

Organization of the Petroleum Exporting Countries - Wikipedia. Not to be confused with APEC.

Organization. The Organization of the Petroleum Exporting Countries; OPE for short. OPEC is an international intergovernmental organization created by oil-producing countries to control oil production quotas. Often viewed as a cartel.

Annotation for the presentation. Presentation work on geography on the topic: ‘OPEC oil industry and Russia’, created by a student. Thanks to this work, we will learn what petroleum geology studies. The Organization of the Petroleum Exporting Countries; C. OPEC (presentation) download. OPEC is an international intergovernmental organization (also called a cartel) created by oil-producing countries to stabilize oil prices. Presentation on the topic: "Organization of Petroleum Exporting Countries". THE OBJECTIVE OF OPEC Member countries of OPEC control about 2/3 of the world's oil reserves. They account for 40% of world production or half of world oil exports. OPEC includes 12 countries: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador. Slide 17 from the presentation "International cooperation" to the lessons of economics on the topic "International organizations".

OPEC consists of 1. The headquarters is located in Vienna. General Secretary (since 0.

Mohammed Barkindo. OPEC member countries control about 2/3 of the world's oil reserves. They account for

Presentation ‘International Organization of OPEC’. OPEC) The Organization of the Petroleum Exporting Countries; abbreviated as OPEC, English Presentation for a lesson in geography (Grade 11) on the topic: The centers of economic power in Asia.

The Organization of the Petroleum Exporting Countries was founded at a conference in Baghdad 1. Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The process of decolonization and the formation of new independent states was characteristic of 1.96.0-s. During this period, world oil production was dominated by the seven largest multinational companies, the so-called "Seven Sisters": Exxon, Royal Dutch Shell, Texaco, Chevron, Mobil, Gulf Oil and British Petroleum. OPEC was established after the Seven Sisters cartel unilaterally reduced the purchase price of oil, on the basis of which they paid taxes and rents for the right to exploit natural resources to oil-producing countries.

In 1.96.0-s there was an excess supply of oil on the world markets, and therefore one of the goals of the creation of OPEC was to prevent a further fall in prices. OPEC developed its collective vision of oil production and created the organization's Secretariat, which was initially located in Geneva, and from September 1, 1. Vienna. In 1.96.8, OPEC adopted the Declaration "On the Petroleum Policy of the Member Countries of OPEC", which emphasized the inalienable right of all countries to exercise permanent sovereignty over their natural resources in the interests of their national development. During the 1.96.0s, the number of OPEC member countries doubled due to the addition of five more oil-producing countries: Qatar (1. Indonesia (1. 96. Libya (1. 96. 2), United United Arab Emirates (1.

Algeria (1.96.9). On November 1.96.2, OPEC was registered with the UN Secretariat as a full-fledged intergovernmental organization. B 1.96.5 OPEC established official relations with the UN Economic and Social Council, became a member of the UN Conference on Trade and Development. This was facilitated by two major events in the world: the oil embargo by Arab countries in 1. OPEC expanded its powers, starting with the first summit meeting of heads of state and government in Algiers in 1. OPEC called for a new era of cooperation in international relations in the interests of global economic development and stability. This led to the creation of the OPEC Fund for International Development at 1.

Member countries have undertaken ambitious socio-economic development schemes. In the period 1.97.0-s, the number of OPEC member countries grew to 1. Nigeria (1.97.1), Ecuador (1. Gabon (1.97.5). OPEC was captured by a group of six armed terrorists led by with Carlos the Jackal, killing three people: an Austrian policeman, a member of the Libyan delegation and an Iraqi security officer.

This was achieved through the harmonization and establishment of oil production quotas for OPEC member countries and the establishment of a pricing mechanism based on the OPEC basket. In the same years, it was possible to establish a dialogue and establish cooperation with countries that are not members of OPEC. Prices changed less dramatically during this decade compared to the previous one. Thanks to the timely action of OPEC, an oil supply crisis due to military events in the Middle East was avoided. 1 However, excessive volatility and general price weakness prevailed this decade due to the southeast Asia and a mild winter in the Northern Hemisphere in 1. However, the world saw a steady recovery, which was due to the greater integration of the oil market, which took into account the changes that took place in the world after the collapse of the USSR and the collapse of the socialist system.

This period was also characterized by the growing processes of globalization, the revolution in communications and other high-tech areas. Serious changes have taken place in matters of dialogue between oil producers and consumers, as well as in matters of relations between OPEC member countries and non-OPEC members. After Earth Summit 1.

The United Nations is gaining momentum in climate change negotiations. Under these conditions, OPEC seeks to balance the supply of oil to the world market. During this decade, there was a change in the composition of OPEC: Gabon withdrew from OPEC, and Ecuador suspended its membership in the organization until October 2. In 1.99.8, Russia became an observer in OPEC. OPEC's innovative pricing mechanism helped strengthen and stabilize oil prices in the early years of this decade. But a combination of market forces, speculation and other factors changed the situation in 2. Prices soared to record levels in the middle of 2.

OPEC has become a well-known organization in supporting the oil sector as part of the global effort to combat the economic crisis. Thanks to the second and third OPEC summits in Caracas and Riyadh 2. During these years, Angola joined OPEC (2. Indonesia from January 2.

Indonesia continues to export light oil, but imports much larger volumes of sour oil. This approach is economically justified, since light price oil is higher. At 2.00.8, Russia announced its readiness to become a permanent observer in OPEC. On January 2, 5, Indonesia again applied for a return to OPEC.

However, December 1st is 2. This means that the Organization currently has a total of 1. At these meetings, decisions are made on the actions to be taken to stabilize the market. Decisions on changes in oil production in accordance with changes in market demand are made at OPEC conferences. The supreme body of the organization is the Conference of the Member States, which is convened, as a rule, 2 times a year. The conference decides on the admission of new members, approves the composition of the Board of Governors, the budget and financial report appoints the Chairman of the Board of Governors, Secretary General, his deputies and auditor.

The Board of Governors prepares questions for the Conference, manages the work of the Secretariat, which is a permanent body. The secretariat conducts research and prepares proposals for the Board of Governors and the Conference, monitors the implementation of decisions taken, drafts annual OPEC budgets. It consists of administrative, economic, legal, information and technical departments.

Orange line - inflation-adjusted price (in dollars 2. The term "basket" OPEC (OPEC Reference Basket of crudes) was officially introduced on January 1, 1. The price of the "basket" is defined as the arithmetic average of the physical prices of the following grades of oil: Arab Light ( Saudi Arabia), Basra Light (Iraq), Bonny Light (Nigeria), Es Sider (Libya), Girassol (Angola), Minas (Indonesia), Iran Heavy (Iran), Kuwait Export (Kuwait), Merey (Venezuela), Murban (UAE), Oriente (Ecuador), Qatar Marine (Qatar), Saharan Blend (Algeria) Since January 2, 01, 6, Indonesia has been included in the basket again. physical prices 1.

Data on OPEC countries for March 2. Since this period, Russia has been participating in the sessions of the OPEC Conference, as well as in expert meetings and other events of the organization with representatives of countries that are not members of it.

Russian ministers meet regularly with OPEC leaders and colleagues from OPEC countries. Russia took the initiative to organize a regular Russia-OPEC Energy Dialogue, to conclude an Agreement (Memorandum) on Energy Dialogue, the authorized representative of which on the Russian side will be the Ministry of Energy of the Russian Federation. Out of fear that Russia will increase its market share, OPEC refuses to cut production unless Russia does the same. This situation is the main obstacle to the recovery of world oil prices. Saudi Arabia and the other countries of the Arabian Peninsula are sparsely populated but have huge oil reserves, large foreign investments and very close relations with the Seven Sisters. Other OPEC members, such as Nigeria and Venezuela, are characterized by high population and poverty. These poorest countries are undertaking costly economic development programs and are heavily indebted.

They are forced to extract and sell significant volumes of oil, especially if the price of crude oil declines. Also in 1.98.0-s, Iraq and Iran, which entered into war with each other, increased oil production in order to pay for military expenses. Saudi Arabia has been pressuring Iran and Iraq to return to quota compliance. Although OPEC countries successfully negotiate oil production quotas, there are no mechanisms within OPEC to monitor and regulate compliance with them. Therefore, quotas are often not met. OPEC countries produced an average of 3. Iranian officials have repeatedly announced their intention to increase oil production by 1 million barrels per day after the likely lifting of economic sanctions, despite the fact that OPEC quotas have already been exceeded.

This was due to large-scale oil production by non-OPEC countries: Russia (1. USA (1. 2%), China (5%), Canada (4%), Brazil (3%), Kazakhstan (2%). Partly the success of these countries in production is due to the development of the so-called "unconventional oil" (shale oil in the United States, oil sands in Canada). economic crisis in 2.

Despite an oversupply and a two-fold drop in oil prices, OPEC members are not cutting production, fearing that their market share will be occupied by competitors. As a result, some OPEC countries face a decline in revenues, others face budget deficits even with high levels of oil production. Another problem of OPEC is political instability in some countries of the organization.

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Goals of OPEC activity Initially, the goal of creating OPEC was to establish control over national natural resources, as well as to influence global price-forming trends in the oil segment. According to modern analysts, this goal has not fundamentally changed since then. Among the most pressing tasks, apart from the main one, for OPEC is the development of the oil supply infrastructure, the competent investment of income from the export of "black gold".

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Saudi Arabia The Kingdom of Saudi Arabia is the largest state on the Arabian Peninsula. Saudi Arabia's economy is based on oil exports. The country has 25% of the world's reserves of this resource. Control over oil and gas fields belongs to the state company Saudi Aramco (the largest oil company in the world). Oil exports provide 90% of the country's export earnings, 75% of budget revenues and 45% of GDP. The main consumers of Arabian oil are the countries of East Asia (46.1%) and the USA (18.6%). Over the past 30 years, the industrial sector has received significant development (production of petrochemical products, fertilizers, steel, building materials, etc.).

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