OPEC Organization petroleum Exporting Countries
OPEC is an organization made up with 13th members
state and was founded in Baghdad, Iraq and was formed in September 1960 by
Iran, Saudi Arabia, Iraq, Venezuela,
Later the five forming members of OPEC where later joined
with Nigeria (1971), Kuwait, Libya(1962), Qatar(1961), Gabon, Ecuador(1973),
Algeria(1969), United state of Emirate(1967) and Indonesia.
Mainly OPEC was formed to prevent some essential activities
to the exploitative of multinational oil companies to export oil from the
producing nation and gave them nothing in return now there headquarters is at
Geneva Switzerland and later in five years it was moved to Vienna Austria
on 1st September 1965.
AIMS OF OPEC (ORGANIZATION
PETROLEUM EXPORTING COUNTRIES)
To ensure steady supply of oil consuming nations
Protection of membership
Stability of oil income
Policy of members states
To fix and allocate production quarters to
members nations.
Steady income to oil producing countries
ORGANS OF OPEC (ORGANIZATION
PETROLEUM EXPORTING COUNTRIES)
BOARDS OF GOVERNORS: - This is the Representative who makes up the body, it’s also refers to as governors and would be voted for and will have to stay for a term or two years.
SECRETARIAT: - The secretarial involve the executive and administer issues of the organization and it is in Vienna, Austria, where the headquarter is located.
CONFERENCE:
- is the powerful and highest of all the organs.
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Ditulis oleh:
Fedrick Theo - Monday 3 June 2013
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