OPEC Organization Petroleum Exporting

U.S. formaldehyde prices for 1966—1989 are shown in Table 4 (115). Since the cost of methanol represents over 60% of formaldehyde s production costs, the formaldehyde price normally reflects the methanol price. Also, freight is a significant cost for formaldehyde since 1—3 kg of water maybe shipped with every kg of formaldehyde. The significant price increase in the early 1970s was due to the sudden rise in hydrocarbon prices caused by the Organization of Petroleum Exporting Companies (OPEC) cartel increasing oil prices. 

The Organization of Petroleum Exporting Countries (OPEC) oil embargo in 1973 resulted in... 

Suddenly there was a significant change in the import/export dynamics of the world. From 1970 to 1973 the United States increased its proportion of imported oil from 10 percent to 23 percent of domestic demand, a substantial 2 mbd increase in imports. At the same time, Saudi Arabia increased its exports by 120 percent, or about 4 mbd, to become the world s most important oil exporter. This change in the balance of exports on the international market gave Saudi Arabia and the rest of the Organization of Petroleum Exporting Countries (OPEC) tremendous market power. It was only a matter of time before they would use it. 

OPEC, Organization of the Petroleum Exporting Countries (2011) World Oil Outlook, http // www.opec.org/opec web/static files project/media/downloads/publications/WOO 2011.pdf... 

OGJ OLADE OECD OPEC OSPAR Oil Gas Journal Latin American Energy Organization Organisation for Economic Cooperation and Development Organization of Petroleum Exporting Countries Oslo Paris Commission for the Protection of the Marine Environment of the North East Atlantic... 

Reserves of crude oil, the raw material used to make petroleum products, are not evenly distributed around the world. The production levels of the major oil-producing nations in the world, shown in Figure 2, are based on data collected by the US Department of Energy s (DOEs) Energy Information Administration (El A). Nations in the Organization of Petroleum Exporting Countries (OPEC) produce —43% of the world s total of nearly 68 million bbl per day... 

In the two chapters (chapters 3 and 4) in part II of this book, the reader will be taken on a trip from the west to the east involving some crude oil producing countries. The influence of the crude oil industry and petroleum organizations such as the Organization of Petroleum Exporting Countries (OPEC) is shown in these chapters. 

The period of cheap petroleum ended in the 1970s, at which time an organization known as Organization of the Petroleum Exporting Countries (OPEC) was... 

Up till now, petroleum policy was defined by two cartels - west and east. The first unites the six largest petroleum companies that extracts 40 percent of oil (by volume) from countries that are not OPEC members. The cumulative volume of sales for these companies in 1991 was almost 400 billion dollars. The eastern cartel (OPEC) includes thirteen countries, which makes up 38 percent of world oil production and 61 percent of world petroleum export. The oil production in Russia makes up 10% of world petroleum production. Therefore, it is possible to say with confidence that Russia occupies a strong position in the international petroleum market. For example, OPEC declared before the crisis that the member states of this organization could not fill any shortage of petroleum, should the world market lose Russia. 

We face three major problems as a consequence of our dependence on fossil fuels for energy. First, fossil fuels are a nonrenewable resource and the world s supply is continually decreasing. Second, a group of Middle Eastern and South American countries controls a large portion of the world s supply of petroleum. These countries have formed a cartel known as the Organization of Petroleum Exporting Countries OPEC), which controls both the supply and the price of crude oil. Political instability in any OPEC country can seriously affect the world oil supply. Third, burning fossil fuels increases the concentrations of CO2 and SO2 in the atmosphere. Scientists have established experimentally that... 

OECD). Two-thirds of the world s remaining oil reserves are located within member nations of the Organization of Petroleum Exporting Countries (OPEC) (ElA 2003b). Natural gas reserves follow a similar distribution pattern. Only 10% of the world reserves are located in OECD nations. The rest is located mainly in OPEC countries (just under one-half) and Russia (one-third) (ElA 2003b). Coal reserves, however, are more plentiful, and distributed in other parts of the world. Approximately three-quarters of the world s coal reserves are found in North America, Asia, Oceania, Eastern Europe, and the former Soviet Union (EIA 2003b). 

The Organization of Petroleum Exporting Countries (OPEC) includes Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. 

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