2002年-OPEC公报_OB042002_48页_1mb

OPEC Summary

Core Content

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization established in 1960 in Baghdad. It includes 13 member countries, with five founding members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Additional members include Qatar, Indonesia, Libya, UAE, Algeria, and Nigeria. Ecuador and Gabon were previously members but left OPEC in 1992 and 1995, respectively.

OPEC's primary objective is to coordinate and unify petroleum policies among its member countries to ensure stable and fair prices for producers, efficient supply for consumers, and a fair return on investment for the industry.

Main Views

• OPEC and Oil Embargoes: OPEC has never supported the use of an oil embargo for political purposes. It emphasizes that oil is a strategic commodity essential to global functioning, and that using it as a political weapon risks backfiring. OPEC highlights that the 1973–74 oil embargo was a unilateral action by some member states, not an OPEC decision.

• Oil Pricing and Currency: OPEC acknowledges the importance of the US dollar in oil pricing and trade, but remains open to the possibility of shifting to the euro in the future. The euro may challenge the dollar's dominance, especially if European countries, such as the UK and Norway, adopt it for oil transactions. However, the current system is based on dollar-denominated marker crudes like Brent, WTI, and Dubai, and OPEC has no direct control over these prices.

• Currency Risk Management: OPEC suggests that oil producers and consumers have a shared interest in minimizing both oil price and currency risk. Financial hedging tools could be used to manage currency risk, with costs shared between the buyer and seller. However, in the short term, most OPEC members are expected to continue using the dollar for payments.

• Euro's Potential: The euro has the potential to become a viable alternative to the dollar in oil pricing and payments, especially if it gains more global acceptance. The euro's strength is tied to the economic and political stability of the EU, and its broader trade relationships with OPEC countries could support its rise.

• Political and Economic Integration: OPEC supports the idea of political solutions to regional conflicts, such as the Middle East, rather than using oil as a political tool. Saudi Arabia has proposed a comprehensive peace plan for the region, which OPEC encourages for its potential to reduce the politicization of oil.

Key Information

• Contact Information:

  • Address: Obere Dorstrasse 93, 1020 Vienna, Austria
  • Telephone: +43 1 211 12/0
  • Fax: +43 1 216 4320
  • E-mail: prid@opec.org, opecna@opec.org
  • Website: http://www.opec.org

• Membership:

  • Founding members: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela
  • Full members: Qatar (1961), Indonesia (1962), Libya (1962), UAE (1967), Algeria (1969), Nigeria (1971)
  • Former members: Ecuador (1973–1992), Gabon (1975–1995)

• Key Positions:

  • Secretary General: Dr Ali Rodriguez Araque
  • Research Division Director: Dr Adnan Shihab-Eldin
  • Energy Studies Department Head: Dr Rezki Lounnas
  • Petroleum Market Analysis Department Head: Dr Muhammad A Al Tayyeb
  • PR & Information Department Head: Farouk U Muhammed, mni
  • Administration & Human Resources Head: Senussi J Senussi

• Forthcoming Events (2002):

  • International Conference on Sanctioned Oil States (Paris, May 21–22)
  • Course on Fundamentals of Petroleum Refining Processes (London, May 21–24)
  • Angola Oil & Gas Summit (London, May 23–24)
  • International Gas Sales Contracts Seminar (Singapore and Doha, May 23–24)
  • Caspian Oil & Gas Conference (Baku, Azerbaijan, June 4–7)
  • European Oil Refining Conference (Monte Carlo, June 6–7)
  • US SEC and GASB Accounting Course (London, June 19–21)
  • Asia Oil & Gas Conference (Kuala Lumpur, June 9–11)

• OPEC Bulletin:

  • Published by the Public Relations & Information Department
  • ISSN: 0474-6279
  • Subscription: $70 for 12 issues
  • Hard copy subscription available
  • Advertising rates and order forms are available in the magazine

• Editorial Policy:

  • The contents do not necessarily reflect the official views of OPEC
  • Names and boundaries on maps are not authoritative
  • Advertisements are not endorsed by OPEC
  • Editorial material can be freely reproduced with credit to OPEC Bulletin

• Contributors:

  • OPEC Bulletin welcomes contributions on technical, financial, and environmental aspects of the energy industry
  • Submissions include letters, research reports, and project descriptions with illustrations

• Editorial Staff:

  • Editor-in-Chief: Farouk U Muhammed, mni
  • Editor: Graham Patterson
  • Assistant Editor: Philippa Webb
  • Production: Diana Lavnick
  • Design: Elfi Plakolm
  • Circulation: Damir Ivankovic

• Advertising Representatives:

  • North America: Donnelly & Associates, Richardson, Texas
  • Europe: G Arnold Teesing BV, Houten, Netherlands
  • Middle East: Imprint International, London
  • Southern Africa: International Media Reps, Bryanston, South Africa

Conclusion

OPEC remains committed to its founding principles of stable oil prices and efficient supply, while also considering the evolving role of the euro in global oil markets. The organization is cautious but open to the possibility of shifting to euro-based pricing and payments, especially as the EU continues to integrate economically and politically. The future of oil pricing will depend on the strength and stability of the euro, as well as the preferences of individual OPEC members based on their trade relationships and economic strategies.