Guardianship: decoding and functions of the organization. list of member countries of trustees

We were able to develop our economy thanks to the sale of our main resource. But the dynamic growth of indicators would not have been possible if developing countries had not united.

Groups of oil-producing countries

Before finding out what organizations exist that regulate the production of crude oil and the conditions for its sale, it is necessary to understand which states are included in them. Thus, the main exporters of oil are those countries where it is produced. At the same time, world leading countries produce more than a billion barrels annually.

Experts from all countries are divided into several groups:

OPEC members;

USA and Canada;

North Sea countries;

Other large states.

World leadership belongs to the first group.

History of the creation of OPEC

The international organization that unites the main oil exporters is often called a cartel. It was created by several countries to stabilize prices for the main raw material resource. This organization is called OPEC (English OPEC - The Organization of the Petroleum Exporting Countries).

The main oil exporting countries, which were classified as developing countries, united back in 1960. This historical event took place at the September conference in Baghdad. The initiative was supported by five countries: Saudi Arabia, Iraq, Iran, Kuwait and Venezuela. This happened after the 7 largest transnational oil companies, also called the “Seven Sisters,” unilaterally reduced purchase prices for oil. After all, depending on its value, they were forced to pay rent for the right to develop deposits and taxes.

But the newly independent states wanted to control oil production on their territory and monitor the exploitation of resources. And taking into account the fact that in the 1960s the supply of this raw material exceeded demand, one of the goals of creating OPEC was to prevent further price declines.

Beginning of work

After the creation of the international organization, oil exporting countries began to join it. Thus, during the 1960s, the number of states included in OPEC doubled. Indonesia, Qatar, Libya, Algeria joined the organization. At the same time, a declaration was adopted that consolidated the oil policy. It stated that countries have the right to exercise constant control over their resources and ensure that they are used in the interests of their development.

The world's main oil exporters took complete control of the production of flammable liquids in the 1970s. The prices set for raw materials began to depend on the activities of OPEC. During this period, other oil exporting countries also joined the organization. The list expanded to 13 participants: it also included Ecuador, Nigeria and Gabon.

Reforms needed

The 1980s were a rather difficult period. After all, at the beginning of this decade, prices increased unprecedentedly. But by 1986 they had dropped, and the price settled at about $10 per barrel. This was a significant blow and all oil exporting countries suffered. OPEC managed to stabilize the cost of raw materials. At the same time, a dialogue was established with states that are not members of this organization. Oil production quotas were also established for OPEC members. The cartels agreed on a pricing mechanism.

The importance of OPEC

To understand trends in the global oil market, it is important to know how OPEC’s influence on the situation has changed. Thus, at the beginning of the 1970s, the participating countries controlled only 2% of the national production of this raw material. Already in 1973, states achieved that 20% of oil production came under their control, and by the 1980s they controlled more than 86% of all resource production. Taking this into account, oil exporting countries that joined OPEC have become an independent determining force in the market. by that time they had already lost their strength, because states, if possible, nationalized the entire oil industry.

General trends

But not all oil exporting countries were part of the specialized organization. For example, in the 1990s, the government of Gabon decided on the need to leave OPEC; during the same period, Ecuador temporarily suspended participation in the affairs of the organization (from 1992 to 2007 ). Russia, which occupies a leading position in terms of production of this resource, became an observer in the cartel in 1998.

Currently, OPEC members collectively account for 40% of global oil production. At the same time, they own 80% of the proven reserves of this raw material. The organization can change the required level by increasing or decreasing it at its discretion. At the same time, most states involved in the development of deposits of this resource are working at full capacity.

Main exporters

Currently, 12 countries are members of OPEC. Some states involved in the development of raw materials operate independently. For example, these are the largest oil exporters such as Russia and the USA. They are not under the influence of OPEC; the organization does not dictate the terms of production and sale of these raw materials to them. But they are forced to come to terms with global trends set by the cartel member countries. At the moment, Russia and the United States occupy leading positions in the world market along with Saudi Arabia. In terms of flammable liquid production, each state accounts for more than 10%.

But this is not all the main oil exporting countries. The list of top ten also includes China, Canada, Iran, Iraq, Mexico, Kuwait, and the UAE.

Now there are oil deposits in more than 100 different countries, and fields are being developed in them. But the volumes of extracted resources, of course, are incomparably small compared to those owned by the largest oil exporting countries.

Other organizations

OPEC is the most significant association of oil-producing countries, but not the only one. For example, in the 1970s the International Energy Agency was founded. 26 countries immediately became its members. The IEA regulates the activities not of exporters, but of the main importers of raw materials. The task of this agency is to develop interaction mechanisms that are necessary in crisis situations. Thus, it was the strategies he developed that made it possible to somewhat reduce the influence of OPEC on the market. The IEA's main recommendations were for countries to create optimal routes for moving raw materials in the event of an embargo and carry out other necessary organizational measures. This has contributed to the fact that not only the largest oil exporters can now dictate market conditions.

Account for individual entrepreneurs and LLCs.

A third of the countries on the planet have proven oil reserves suitable for production and processing on an industrial scale, but not all trade raw materials on the foreign market. Only a dozen and a half countries play a decisive role in this area of ​​the world economy. The leading players in the oil market are the largest consumer economies and a few producing countries.

Oil-producing powers collectively extract more than one billion barrels of raw materials every year. For decades, the generally accepted standard unit of measurement for liquid hydrocarbons has been the American barrel, which is equal to 159 liters. Total global reserves, according to various expert estimates, range from 240 to 290 billion tons.

Supplier countries are divided into several groups by experts:

• OPEC member states;
• North Sea countries;
• North American manufacturers;
• other large exporters.

The largest segment of world trade is occupied by OPEC. The territory of the twelve member states of the cartel contains 76% of the explored volumes of this non-renewable resource. Members of the international organization extract 45% of the world's light oil from the depths every day. Analysts from the IEA, the International Energy Agency, believe that in the coming years, dependence on OPEC countries will only grow due to a decrease in reserves from independent exporters. Middle Eastern countries supply oil to buyers in the Asia-Pacific region, North America and Western Europe. https://www.site/

At the same time, both suppliers and buyers are striving to diversify the logistics component of trade transactions. The volumes of offers from traditional producers are approaching their upper limit, so some large buyers, primarily China, are increasingly turning their attention to the so-called rogue countries: for example, Sudan and Gabon. China's disregard for international norms does not always meet with understanding in the international community, however, it is largely justified to ensure economic security.

Rating of leading oil exporters

The absolute leaders in oil exports are the record holders for extracting raw materials from the subsoil: Saudi Arabia and the Russian Federation. Over the last decade, the list of the largest oil sellers is as follows:

1. Saudi Arabia consistently ranks top with the most extensive proven reserves and daily exports of 8.86 million barrels, that's almost 1.4 million tons. The country has about 80 extensive fields, the largest consumers are Japan and the United States.
2. Russia supplies 7.6 million barrels. per day. The country has proven reserves of black gold of more than 6.6 billion tons, which is 5% of the world's reserves. The main buyers are neighboring countries and the EU. Considering the development of promising deposits on Sakhalin, an increase in exports to Far Eastern buyers is expected.
3. UAE exports 2.6 million barrels. The Middle Eastern state has 10% of oil reserves; the main trading partners are the Asia-Pacific countries.
4. Kuwait– 2.5 million barrels The small state has a tenth of the world's reserves. At the current rate of production, the resources will last for at least a century.
5. Iraq– 2.2 - 2.4 million barrels It is in second place in terms of available reserves of raw materials, with explored deposits of more than 15 billion tons. Experts say that there is twice as much oil in the ground.
6. Nigeria- 2.3 million barrels The African state has consistently occupied sixth position for many years. Explored reserves account for 35% of the total volume of discovered deposits on the dark continent. The favorable geographical location allows us to transport raw materials both to North America and to the countries of the Far Eastern region.
7. Qatar– 1.8 - 2 million barrels Export earnings per capita are the highest, making it the richest country in the world. The volume of proven reserves exceeds 3 billion tons.
8. Iran- more than 1.7 million barrels The volume of reserves is 12 billion tons, which is 9% of the planet’s wealth. About 4 million barrels are extracted daily in the country. After the sanctions are lifted, supplies to the foreign market will increase. Despite the decline in prices, Iran intends to export at least 2 million barrels. The main buyers are China, South Korea and Japan. offbank.ru
9. Venezuela- 1.72 million barrels The largest trading partner is the USA.
10. Norway- more than 1.6 million barrels The Scandinavian country has the most extensive reserves among the EU countries - one and a half billion tons.

• Large exporters, whose daily sales exceed 1 million barrels per day, are Mexico, Kazakhstan, Libya, Algeria, Canada, and Angola. Less than a million per day is exported by Britain, Colombia, Azerbaijan, Brazil, and Sudan. In total, more than three dozen states are among the sellers.

Rating of the largest oil buyers

The list of the largest buyers of crude oil has remained stable over the years. However, due to the intensification of shale oil production in the United States and the growth of the Chinese economy, the leader may change in the coming years. The daily purchase volumes are as follows:

1. USA 7.2 million barrels are purchased daily. A third of imported oil is of Arab origin. Imports are gradually decreasing due to the reactivation of its own deposits. At the end of 2015, in certain periods, net imports decreased to 5.9 million barrels. in a day.
2. China imports 5.6 million barrels. In terms of GDP, it is the largest economy in the world. In an effort to ensure stability of supplies, state-owned companies are investing huge amounts of money in the oil production industries in Iraq, Sudan and Angola. Geographical neighbor Russia also expects to increase its share of supplies to the Chinese market.
3. Japan. The Japanese economy needs 4.5 million barrels daily. oil. The dependence of the local oil refining industry on external purchases is 97%, and in the near future it will be 100%. The main supplier is Saudi Arabia.
4. India imports 2.5 million barrels per day. The economy's dependence on imports is 75%. Experts predict that in the next decade, purchases on the foreign market will increase by 3–5% per year. In terms of purchases of “black gold” in the near future, India may get ahead of Japan.
5. South Korea– 2.3 million barrels The main suppliers are Saudi Arabia and Iran. In 2015, purchases were made in Mexico for the first time.
6. Germany– 2.3 million barrels
7. France– 1.7 million barrels
8. Spain– 1.3 million barrels
9. Singapore– 1.22 million barrels
10. Italy– 1.21 million barrels

• More than half a million barrels per day are purchased by Holland, Turkey, Indonesia, Thailand and Taiwan. //www.site/

According to IEA estimates, in 2016 the demand for liquid hydrocarbons will increase by 1.5%. Next year growth will be 1.7%. In the long term, demand will also grow steadily, and not only due to the increase in the number of vehicles using internal combustion engines. Modern technologies require more and more synthetic materials derived from petroleum.

OPEC- an international intergovernmental organization created by oil-producing countries in order to stabilize oil prices. IN OPEC composition includes 12 countries: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador and Angola. The headquarters is located in Vienna.

OPEC as a permanent organization was created at a conference in Baghdad on September 10-14, 1960.

In 2008, Russia announced its readiness to become a permanent observer in the cartel.

The goals of OPEC are:

· Coordination and unification of the oil policies of the member states.

· Determination of the most effective individual and collective means of protecting their interests.

· Ensuring price stability on world oil markets.

· Attention to the interests of oil-producing countries and the need to ensure: sustainable income for oil-producing countries; efficient, cost-effective and regular supply of consumer countries; fair returns from investments in the oil industry; environmental protection in the interests of present and future generations.

· Cooperation with non-OPEC countries to implement initiatives to stabilize the global oil market.

The energy and oil ministers of 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 that need to be taken to stabilize the market. Decisions on changes in oil production volumes in accordance with changes in market demand are made at OPEC conferences.

Organizational structure of OPEC

The structure of OPEC consists of a Conference, committees, a board of governors, a secretariat, a secretary general and an OPEC economic commission.

Supreme body of OPEC - Conference ministers of states included in the organization also applies Board of Directors, in which each country is represented by one delegate. As a rule, it attracts the closest attention not only from the press, but also from key players in the global oil market.

The conference determines the main directions of OPEC's policies, ways and means of their practical implementation and makes decisions on reports and recommendations submitted by the Board of Governors, as well as on the budget. It instructs the Council to prepare reports and recommendations on any issues of interest to the organization. The Conference is formed by the Board of Governors itself (one representative per country, as a rule, these are the ministers of oil, extractive industries or energy). She also elects the president and appoints the general secretary of the organization.

Secretary General is the highest official of the Organization, plenipotentiary representative of OPEC and head of the Secretariat. He organizes and directs the work of the Organization. The structure of the OPEC secretariat includes three departments. Secretary General (since 2007) - Abdullah Salem al-Badri.

OPEC Economic Commission is concerned with promoting stability in international oil markets at fair price levels so that oil can maintain its importance as a primary global energy source in accordance with the objectives of OPEC, closely monitors changes in energy markets and keeps the Conference informed of these changes.

Interministerial Committee on monitoring was founded in March 1982 at the 63rd (extraordinary) meeting of the conference. The Committee monitors (annually statistics) the situation and proposes actions to the conference to solve relevant problems.

OPEC Secretariat functions as headquarters. He is responsible for carrying out the executive functions of the organization in accordance with the provisions of the OPEC Charter and the orders of the Board of Governors.

OPEC Fund for International Development

In 1976, OPEC established the OPEC Fund for International Development (headquartered in Vienna, originally called the OPEC Special Fund). It is a multilateral development financial institution that promotes cooperation between OPEC member states and other developing countries. The Fund's assistance can be used by international financial institutions providing assistance to developing countries, and by all non-OPEC developing countries. The OPEC Fund provides loans on concessional terms mainly of three types: for projects, programs and balance of payments support. The Fund's financial resources are generated from voluntary contributions from member states and profits generated through the Fund's lending and investment operations.

Its price value is the arithmetic average of spot prices for types of oil produced by the organization's participants.

Global proven oil reserves (as of 2015) amount to 1657.4 billion barrels. The largest oil reserves - 18.0% of all world reserves - are located in Venezuela. Proven oil reserves in this country amount to 298.4 billion barrels. Saudi Arabia is the second largest country in the world with oil reserves. The volume of its proven reserves is about 268.3 billion barrels of oil (16.2% of the world's total). Proven oil reserves in Russia account for approximately 4.8% of the world's reserves - about 80.0 billion barrels, in the USA - 36.52 billion barrels (2.2% of the world's total).

Oil reserves in countries of the world (as of 2015), barrels

Oil production and consumption by country

The world leader in oil production is Russia - 10.11 million barrels per day, Saudi Arabia is in second place - 9.735 million barrels per day. The world leader in oil consumption is the United States - 19.0 million barrels per day, China is in second place - 10.12 million barrels per day.

Oil production by country (as of 2015), barrels/day

data http://www.globalfirepower.com/

Oil consumption by countries of the world (as of 2015), barrels/day

data http://www.globalfirepower.com/

Experts from the International Energy Agency (IEA) expect global oil demand to increase by 1.4 million barrels per day in 2016 to 96.1 million barrels per day. In 2017, global demand is forecast to reach 97.4 million barrels per day.

World oil exports and imports

The leaders in oil imports are currently the United States - 7.4 million barrels per day and China - about 6.7 million barrels per day. The leaders in exports are Saudi Arabia - 7.2 million barrels per day and Russia - 4.9 million barrels per day.

Export volume by country in 2015

OPEC data

Import volume by country in 2015

OPEC data

How many years will oil reserves last?

Oil is a non-renewable resource. Proven oil reserves (as of 2015) are approximately 224 billion tons (1657.4 billion barrels), estimated - 40-200 billion tons (300-1500 billion barrels).

By the beginning of 1973, the world's proven oil reserves were estimated at 77 billion tons (570 billion barrels). Thus, proven reserves have been growing in the past (oil consumption is also growing - over the past 40 years it has grown from 20.0 to 32.4 billion barrels per year). However, since 1984, the annual volume of world oil production has exceeded the volume of explored oil reserves.

World oil production in 2015 was about 4.4 billion tons per year, or 32.7 billion barrels per year. Thus, at the current rate of consumption, proven oil reserves will last for about 50 years, and estimated reserves will last for another 10-50 years.

US oil market

As of 2015, the US imported approximately 39% of its total oil consumption and produced 61% independently. The main countries exporting oil to the US are Saudi Arabia, Venezuela, Mexico, Nigeria, Iraq, Norway, Angola and the UK. Approximately 30% of oil imported into the United States and 15% of total oil consumption in the United States is oil of Arab origin.

According to experts, strategic oil reserves in the United States currently amount to more than 695 million barrels, and commercial oil reserves are about 520 million barrels. For comparison, Japan's strategic oil reserves are about 300 million barrels, and Germany's are about 200 million barrels.

US oil production from unconventional sources increased approximately fivefold between 2008 and 2012, reaching almost 2.0 million barrels per day by the end of 2012. By the beginning of 2016, the 7 largest shale oil basins were already producing about 5.0 million barrels daily. The average share of shale oil, or light tight oil as it is often called, in total oil production in 2016 was 36% (compared to 16% in 2012).

Conventional crude oil production in the United States (including condensate) amounted to 8.6 million barrels per day in 2015, which is 1.0 million barrels per day less than in 2012. The total volume of oil production in the United States, including shale, in 2015 amounted to more than 13.5 million barrels per day. Much of the increase in recent years has been driven by increased oil production in North Dakota, Texas and New Mexico, where hydraulic fracturing (fracking) and horizontal drilling technologies have been used to produce oil from shale formations.

In percentage terms (up 16.2% from the previous year), 2014 was the best year in more than six decades. Annual increases in oil production regularly exceeded 15% in the first half of the 20th century, but these changes were smaller in absolute terms because production levels were significantly lower than they are now. US oil production rose in each of the previous six years. This trend followed the period from 1985 to 2008, in which oil production fell in every year (except for one year). US oil production growth stalled in 2015 due to a sharp drop in oil prices in the second half of 2014.

According to the latest IEA estimates, conventional oil production in the United States in 2016 will be 8.61 million barrels per day, in 2017 - 8.2 million barrels per day. US oil demand in 2016 will average 19.6 million barrels per day. The average oil price forecast for 2016 was raised to $43.57 per barrel, for 2017 - to $52.15 per barrel.

Definition and background: The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental 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 - with a proposal for regular and closer cooperation on energy issues. But the main stimulus for the birth of OPEC was an event that occurred ten years later. After the “seven sisters” decided to reduce the price of oil without first coordinating 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 in advance with the governments of oil-producing countries before changing oil prices. However, the “seven sisters” ignored the resolution, and in August 1960 they again reduced oil prices.

The Birth of OPEC

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

Each country sent delegates: Fouad Rouhani from Iran, Dr. Talaat al-Shaibani from Iraq, Ahmed Sayed Omar from Kuwait, Abdullah al-Tariqi from Saudi Arabia and Dr. Juan Pablo Perez Alfonso from Venezuela. In Baghdad, delegates discussed the role of the “seven sisters” and the hydrocarbon market situation. Oil producers desperately needed to create an organization to protect their critical natural resources. Thus, OPEC was created as a permanent intergovernmental organization with its first headquarters in Geneva, Switzerland. In April 1965, OPEC decided to move its administration to Vienna, the capital of Austria. The host agreement was signed and OPEC moved its office to Vienna on September 1, 1965. After the creation of OPEC, governments of OPEC member countries took 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 extent 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'S PROVEN OIL RESERVES, BILLION. BARR.

Source: OPEC

Other key members are Iran, Iraq, Kuwait and the United Arab Emirates, whose combined reserves are significantly higher than Saudi Arabia's. Kuwait, with a small population, has shown a willingness to reduce production relative to the size of its reserves, while Iran and Iraq, with growing populations, tend to produce at higher levels relative to reserves. 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 oil-producing countries that are not members of OPEC

USA. The United States is the leading oil-producing country in the world with production averaging 12.3 million barrels. oil per day, which is 13.4% of global production according to British Petroleum. The United States has been a net exporter, meaning exports have exceeded oil imports since early 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 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 produced at the Priobskoye and Samotlorskoye fields 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 involved in oil production in Russia are Rosneft, which acquired TNK-BP in 2013, Lukoil, Surgutneftegaz, Gazpromneft and Tatneft.

China. In 2016, China produced an average of 4 million barrels. oil, which amounted to 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, with the remaining 20% ​​being 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 brownfields 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 global production. Currently, the main sources of oil production in Canada are the Alberta tar sands, the Western Canada Sedimentary Basin and the Atlantic Basin. The oil sector in Canada is privatized by many foreign and domestic companies.

Current OPEC members

Algeria - since 1969

Angola – 2007-present

Ecuador – 1973-1992, 2007 – present

Gabon - 1975-1995; 2016–present

Iran - from 1960 to the 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