OPEC
The Organization of the Petroleum Exporting Countries (OPEC) was created at the Baghdad discussion in Iraq in September 1960. The founding members of the organization were Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Eight other countries later joined these five states: Qatar (1961), Indonesia (1962), Libya (1962), United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), and Gabon (1975). Ecuador and Gabon remove from the organization in 1992 and 1994. The opec countries build up by mostly middle-east countries. The OPEC actives bring in oil price for the other countries. Also their main income form oil supplies. The first OPEC president was the Oil Minister, he was from Iraq, he was president in 1960, the 119th and 120th presidents are MR. Dr.Rilwanu Lukman, he was from Nigeria and Mr. Abdullah bin Hamed Al Attiyah, he was from Qatar. Six major opec counties include the five "GULF OPEC" countries near the Persian and Arabian Gulf. Also Venezuela in South America. These countries in 1999 produced 46% of the world's exports. They take in S
Also the United States Energy Information Administration gives some information about OPEC revenue in 1998,EXECUTIVE SUMMARYThe main conclusions of this study are the following: * OPEC oil export revenues for 1998 are projected to be $80. These minor OPEC nations produced 13%of the world's oil exports in 1999. They called by "The Minor of the OPEC". Some people are expecting other Muslim countries (Oman, Syria, Yemem and the FSU's Muslim/Caspian) will team up with OPEC. The members of the Organization of Petroleum Exporting Countries (OPEC) are worried about losing 23 billion dollars in export revenues if the targets set for fighting the greenhouse effect, which would involve a reduction in the use of fossil fuels. If we looked at the OPEC countries populations, Indonesia and Nigeria have a large population.
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Acceptance Essays
