Presentation on the topic of characteristics of trusteeship countries. Proven oil reserves, billions

What is it?

Raw natural oil is a highly flammable liquid that is found in deep sedimentary deposits 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 seeps 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 little history

Slide 4

Several centuries BC. In China, drilling was carried out using bamboo pipes. However, systematic oil production in the world began only 2000 years later.

Petroleum geology emerged as a recognized science at the beginning of the twentieth century. Since that time, a rapid increase in the number of specialists in oil and gas exploration began; Thousands of geologists around the world are busy searching for oil and gas today.

Slide 5

What is it measured in?

In 1 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 British Petroleum, Chevron, Exxon, Gulf, Mobil, Royal Dutch Shell and Texaco and controlled the processing of crude oil. oil and the sale of petroleum products throughout the world - unilaterally reduced purchase prices for 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 oversupply of oil on world markets, and the purpose of creating OPEC was to prevent prices from falling further.

Slide 7

OPEC was formed by 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 United Arab Emirates, Algeria, Nigeria, Ecuador and Gabon. In December 1992, Ecuador left OPEC, and in January 1995, Gabon was expelled from it.

Slide 8

• Algeria
• Venezuela
• Indonesia
• Qatar
• Kuwait
• Libya
• Nigeria
• Saudi Arabia

Currently, OPEC includes 11 countries:

Slide 9

Oil-producing countries of the world (2005 data)

Slide 10

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

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, noted in the report of OPEC experts.

The price of the OPEC oil “basket” as of October 21 was 52.47 (-0.38) dollars per barrel. This is the lowest point in the last 13 weeks. Cheaper than now, "basket" last time cost on July 25, 2005. Then its price was officially $52.07 per barrel.

Slide 12

Currently, the actual oil production 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 of this year are determined at 23.5 million barrels.

Slide 13

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

High growth rates of the world economy, in particular, the economies of the USA and China

Low level of free production capacity for oil production

Slide 14

Boosting impact on world oil prices in lately impacted by Hurricanes Katrina and Rita, which disrupted production and damaged energy infrastructure in the Gulf of Mexico region.

Slide 15

At the March (2005) OPEC conference, it was announced that oil production by member countries of the organization would increase by 500 thousand barrels per day, but this measure did not have any visible impact on the dynamics of oil prices.

Russian oil industry

Slide 16

Purnomo Yusgiantoro, general secretary OPEC:

“OPEC alone is unable 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 cope with the problem of achieving stability in world oil markets. But there is no progress from these states yet, although cooperation and coordination of many tactical actions is 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 absolute record throughout the history of the domestic oil industry, including Soviet period. More than half of the extracted raw materials were exported.

According to NIKOIL FC analyst Alexey Kormshchikov, by the end of this year Russia will extract 5-6% more oil from the subsoil than in the past, but then the growth will stop altogether. “The problem is that exploration of new deposits is being carried out insufficiently, so there will be nothing to increase production from,” 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 continuation of the growth trend in the production of oil and petroleum products that developed in 2000-2004, however, the growth rate of oil production in 2005 fell sharply.

Slide 19

Slide 20

Russia exports the most oil.

He also “exports” the money received for it.

Slide 21

Oil complex of Prikamye

LUKOIL-PERM LLC carries out search, exploration and production of oil and gas in 23 administrative districts of the Perm Territory.

The most active oil production is carried out in the Usolsky, Solikamsky, Kuedinsky, Chastinsky, Chernushinsky and Bardymsky districts. In total, the LUKOIL-PERM LLC group has 127 fields on its balance sheet.

Slide 22

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

Slide 23

Oil production by LUKOIL-Perm enterprises in October 2005

Slide 24

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

Using the most modern technologies and the latest equipment allows LUKOIL-PERM LLC to carry out work to engage oil reserves located in nature protection zones Oh. The involvement of fields in environmental protection zones will make it possible to additionally produce more than 3.2 million tons of oil by 2010.

Slide 25

Forecast for 2006

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

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

Slide 26

As predicted, an increase in oil production in non-OPEC countries will not satisfy global demand. Oil production outside OPEC in 2006 is forecast to increase by 0.9 million barrels. per day compared to the previous year.

Slide 27

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

Tensions in the refining and freight transport sectors are expected to continue due to limited available capacity.

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.

A significant increase in oil demand will be driven by high growth rates of the global economy.

Slide 29

Literature/Resources

Weekly "Everything is clear"

Weekly "Russian Newsweek"

Information and analytical newspaper "Money"

"Oil and Capital", No. 9-10, 2005.

OJSC LUKOIL

Portal "Polit.ru"

Financial company "Profit House"

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

Encyclopedia "Around the World"

Slide 30

OIL (petroleum - from the Latin petra oleum, literally meaning "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 OPEC "basket" (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).

View all slides

Ministry of Education and Science of Ukraine

Odessa State Economic University

Individual work on the topic:

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

Odessa-2010

INTRODUCTION

Currently, there are more than 4,000 international intergovernmental organizations. Their role in the global economy is difficult to overestimate.

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

For example, to solve problems related to the simplification 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 problems of international payments - the IMF.

Thus, at the end of the 50s, the formation of the Organization of Petroleum Exporting Countries (OPEC) was a natural path for the development of the world economy. OPEC is a voluntary intergovernmental economic organization whose mission and main goal which is the coordination and unification of the oil policies of its member states. OPEC is looking for ways to ensure stabilization of prices for petroleum products on the world and international oil markets in order to avoid fluctuations in oil prices, which have harmful effects for OPEC member states. The main goal is also to return to Member States their investment capital in the oil-producing industries 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 beginning of oil production in the countries of the Middle East and Africa, the fields of these regions found themselves in the category of the best. Extremely favorable natural production conditions (small depth, presence of flowing wells, etc.) along with low wages labor force led to a very low level of production costs in these regions.

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

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

For a long period of time, mineral and agricultural raw materials were siphoned off from developing countries largely by methods left over from the colonial period. Chief among them was direct control foreign capital over the production and export of raw materials in the form of concessions that are strictly unprofitable for developing countries and monopoly low purchase prices for exported raw materials.

For example, since the mid-50s, an ever-increasing amount of oil produced in the Near and Middle East was sent to the United States, where the cost of producing its own oil was more than 10 times higher than that of Middle Eastern countries. The influx of cheap oil, allowing monopolies to receive excess profits due to differences in production costs, contributed to rapid growth unused production capacity in the US. American oil could not withstand the competition of cheap fuel imported from the Middle East and Africa. This prompted US governments to impose quantitative import restrictions starting in 1959 equal to 12.2% of the previous year's production. Under these conditions, the prices of actual oil transactions began to move further away from the reference prices. To bring reference prices into line with the market situation, as well as to reduce payments to the governments of oil-producing countries, the monopolies in 1959 lowered reference prices for oil in 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 Arab world and Venezuela, which contributed to the rapprochement of oil exporting countries.

It was necessary to radically change the entire situation on the world market. Exactly real threat further stabilization of the incomes of developing countries was a decisive factor that persuaded oil-producing countries to create a special body for the purpose of collectively protecting their interests. At a conference convened at the initiative of the Iraqi government in September 1960 in Baghdad, the Organization of 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 achieve the following main goals and objectives:

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

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

3. using 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 income;

5. ensuring efficient, regular and cost-effective supply of oil 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 highest body of OPEC is the Conference, consisting of delegations representing member states, headed by the ministers of the oil production industry or energy. Meetings of the Conference are held twice a year at the OPEC headquarters located in Vienna (Austria).

OPEC AND THE WORLD OIL MARKET

To weaken competition and conquer the world oil market in 1928, 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 (as of 1965, the cartel had 79% of reserves and 60% of oil production in the capitalist world at its disposal). The basis of their dominance was control over oil sources in developing countries in the form of ownership of concessions. They not only ensured the profits of the monopolies, but also guaranteed an uninterrupted supply of liquid fuel to the imperialist states. Having installed low prices, the cartel achieved expansion of sales markets and reorientation of the world economy towards liquid fuel.

By dividing the sales markets, sources of raw materials among themselves and coordinating the size of production, the cartel participants for a long time almost single-handedly regulated prices on the world market, forcing other competitors to follow them. In addition, oil corporations controlled not only oil production, but also operations for transportation, refining and marketing of liquid fuel.

For a long period until the end of the 40s of the 20th century, oil prices were maintained by the cartel at a level corresponding to the highest global production costs - at the worst fields in the United States.

However, after World War II, the colonial system began to disintegrate, after which developing countries began to fight against their imperialist exploitation by the United States and Western countries. Important integral part This struggle is the movement of developing countries to conquer and strengthen national sovereignty over its most important natural wealth.

The struggle of this group was aimed, first of all, at changing the terms of concession agreements, which served as a serious obstacle to economic development oil-producing countries.

Provisions on mandatory reduction of concession areas began to appear in the mid-50s. But only after the formation of OPEC did developing countries exporting petroleum fuel come to realize the need, first of all, to change in their favor the terms of foreign concessions, which are the basis for the exploitation of these countries.

The first step taken by the governments of these countries was the organization of state oil companies. In 1960, a national company was established in Kuwait, 1962 in Saudi Arabia, 1963 in Algeria, 1964 in Iraq. But oil monopolies still maintained low prices on the world market. Then the leadership of oil-producing countries moved to more decisive actions. Early 70s extracting 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 stating that the state would own 25% of the shares in subsidiaries producing on their territory, and after 10 years - 50%.

The real result was already visible in 1974, when in most of the oil-exporting countries the concession system was eliminated 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 OPEC countries. It is characteristic that during 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 oil prices, developing countries have increased their income many times over. Due to this, existing oil production and oil refining enterprises were re-equipped and new ones were built, and other sectors of the economy were developed.

In the global 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 significantly 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 still arise before it from time to time. Countries such as the USA, Mexico, Russia and others also play an active role in the global oil market today. OPEC is forced to reckon with these countries and negotiate cooperation in order to stabilize oil prices.

ROLE OF OPEC IN THE WORLD ECONOMY

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

However, despite the importance of the oil factor, not every country that produces this type raw materials can have a real impact on the global economy.

Currently, in the world oil market, the real force capable of making full use of this factor is OPEC. By strictly regulating oil production and exports, OPEC countries have the real ability to dictate world oil prices, taking into account primarily their national interests. This possibility is a consequence of many factors.

First, 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 supply.

Thirdly, the cost of oil production in 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 to 35 million barrels per day. At the same time, investments in increasing production levels by 1 barrel/day. are only about 2.8 dollars.

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

However, to more fully understand 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 USA, Holland, Portugal, and South Africa.

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

The second crisis, which broke out in 1979, was even more dangerous. There was a revolution in Iran, and from April 1, OPEC 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%. Then came Iran's seizure of Western hostages and the severance 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 dollars per barrel. In 1980, the situation worsened with the Iran-Iraq War. Saudi Light blend rose to $34 a barrel, reaching its all-time high.

The first and second energy crises showed the low efficiency of OPEC and the poor coordination mechanism of the oil policy of its member countries. In both cases, the market situation developed spontaneously, with the participation of OPEC member countries, but not under the control of the organization as such.

But speaking about the inability or at least weak impact of OPEC 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, the total volume of 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 - 1975 and the end of 1980, respectively - when the reduction in demand caused by the rise in price of liquid fuel began to be felt, members of the association of oil exporters significantly reduced production and thereby established new level prices

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 began, provoked by Saudi Arabia. OPEC announced its abandonment of its role as a market “regulator” and decided to defend a higher market share. OPEC member countries sharply increased oil production in their countries. However, the new strategy did not bring the expected success: within a few months, crude oil fell in price by more than half from 27 to 12 dollars per barrel - the capitalist market was hit by another crisis - a crisis of overproduction.

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

After the crisis in Southeast Asia in 1997. There was a collapse of stock markets around 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% - to 27.5 million barrels per day. The inopportuneness of this step became evident in 1998, when an increase in oil supply against the backdrop 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 situation around, and this called into question the very existence of the cartel. Twice in March and June OPEC decided to cut production, but poor discipline within the organization significantly undermined market confidence. By December 1998, prices dropped to $10 per barrel, and industrial reserves in the United States reached 330 million barrels. Only in March 1999, the cartel not only made a decision to reduce production, but also managed to implement 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, did their job. Almost the entire year after the historic decision, oil prices rose continuously, and if in February 1999 Brent cost about 10 dollars per barrel, then in March 2000 it was all 30.

The current situation shows that OPEC is more interested than ever in maintaining stability in the global oil market, firstly because the economies of some countries, which have not fully 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, 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 and 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.

Currently, 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. Firstly, due to the fact that today OPEC is not able to independently cope with the fall in oil prices, it has to seek support from other oil exporting countries, i.e. its dependence on other countries is increasing. Secondly, the recent increased rationalization in the use of natural resources and the transition to the use of alternative energy sources is leading to a reduction in demand for oil. In these conditions, OPEC is pursuing a policy of reducing the production of “black gold”. But, with a reduction in oil production in OPEC member countries, non-member states, on the contrary, are striving to increase production, gradually displacing 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. These states receive most of their income from oil sales. Therefore, the economies of this group of countries should be in urgently diversified, otherwise when completely exhausted natural resources there will be a threat to their continued existence.

In addition, I believe that the collapse of the economies of states that depend more than 70% on oil will occur much earlier than the actual depletion of natural resources. This is explained by the fact that in the near future (20–40 years) oil will cease to play the role of an energy source. And in this case, the need for liquid fuel on the world market will disappear.

HISTORY OF OPEC Organization exporting countries Oil was founded at a conference in Baghdad on September 10-14, 1960, on the initiative of five developing oil-producing countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The purpose of creating 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 world markets, and therefore one of the goals of creating OPEC was to prevent further falls 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 Oil Policy member countries 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 Conference of Ministers of States (Governing Council) Secretariat (three departments) Economic Commission

OPEC'S TASK OPEC member countries control about 2/3 of the world's oil reserves. They account for 40% of world production or half of world oil exports. Peak oil has not yet been passed only by OPEC countries and Canada (among the major exporters).

GOALS OF THE ORGANIZATION The goal of OPEC is to coordinate activities and develop a common policy regarding oil production among participating countries organization, maintaining stable oil prices, ensuring stable supplies of oil to consumers, obtaining returns from investments in the oil industry. The energy and oil ministers of OPEC member states meet twice a year to assess international market oil 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.

OPEC BASKET The term OPEC basket was officially introduced on January 1, 1987. Its price value is the arithmetic average of spot prices for the types of oil produced by the organization's members. 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 sessions of the OPEC Conference, as well as in expert meetings and other events of the organization with representatives of countries outside of it. Regular meetings are held Russian ministers with OPEC leaders and colleagues from OPEC countries. Russia has taken the initiative to organize a regular Russia-OPEC Energy Dialogue, to conclude an Agreement (Memorandum) on the Energy Dialogue, the authorized representative of which on the Russian side will be the Ministry of Energy Russian Federation. Relations with Russia have a significant impact on the organization's policies. Out of fear that Russia will increase its market share, OPEC refuses to reduce production unless Russia does the same. This situation is the main obstacle to the recovery of world oil prices. In 2015, OPEC invited Russia to join, but the country decided to remain an observer.

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

Slide 1

Slide description:

Slide 2

Slide description:

Slide 3

Slide description:

Slide 4

Slide description:

Goals of OPEC The initial goal of creating OPEC was to establish control over national natural resources, as well as influence global pricing trends in the oil segment. According to modern analysts, this goal has not fundamentally changed since then. Among the most pressing tasks, in addition to the main one, for OPEC is the development of oil supply infrastructure and the competent investment of income from the export of “black gold”.

Slide 5

Slide description:

Slide 6

Slide description:

Slide 7

Slide description:

Slide 8

Slide description:

Slide 9

Slide description:

Slide 10

Slide description:

Slide 11

Slide description:

Slide 12

Slide description:

Slide 13

Slide description:

Slide 14

Slide description:

Slide 15

Slide description:

Saudi Arabia Kingdom of Saudi Arabia - largest state on Arabian Peninsula. The basis of the Saudi Arabian economy is 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 account for 90% of the country's export revenues, 75% of budget revenues and 45% of GDP. The main consumers of Arabian oil are countries East Asia(46.1%) and the USA (18.6%). Over the past 30 years, the industrial sector has undergone significant development (production of petrochemical products, fertilizers, steel, building materials etc.).

Slide 17

Slide description:

Slide 18

Slide description:

“International economic organizations” - Place of international organizations. Organization for Economic Cooperation and Development. Specialized institutions UN. Title in Russian. Major regional (multilateral) development banks. Informal economic organizations. International organizations. Auxiliary organs. World Bank Group.

“International Exhibitions” - An approach to the areas of assessing the international exhibition activities of an industrial enterprise. Methods for assessing exhibition activity reserves. Methodology for assessing the effectiveness of an international exhibition for the organizer. International exhibitions as a factor in the formation and implementation of the export potential of industrial enterprises.

“International organizations” - 6. Functions of international organizations. The concept of international regime. 6. Functions of international organizations. The procedure for creating and terminating the activities of MOs. 2. The emergence and historical development of international organizations. The role of international relations in world politics. International organizations: History, classification.

"Forum in Davos" - Gazprom. Greenpeace activists. Russia. Alexey Repik. World Economic Forum. European Management Forum. Oleg Deripaska. Pope. World Economic Forum in Davos. Historiography of the forum. Forum participants. Annual meetings. Opinion of the President of the Republic of Kazakhstan. Klaus Schwab.

“International financial organizations” - IMF member country quota. The role of international monetary and financial organizations. Executive Council. IBRD governance structure. Accounting monetary unit. Financial organizations. IMF stabilization programs. International Bank. Special credit mechanisms. Quota structure. IMF loans.

“World Trade Organization” - Table of the main rounds of GATT\WTO. General Agreement on Tariffs. Uruguay round. Prerequisites for the creation of GATT\WTO. Initial rounds. Worldwide trade organization. Countries that have signed the GATT. International trade organization. Negotiating rounds of GATT\WTO. Creation of an international trade organization.

There are 7 presentations in total