Financial Wealth Ideas

The main objectives of OPEC The main objectives of the Organization are:

* Co-ordination and unification of the petroleum policies of Member States. * Determine the most effective individual and collective means of protecting their interests. * Ensure price stability in world oil markets. * Attention to the interests of oil-producing countries and the need to provide: sustainable income oil-producing countries, an effective, cost-effective and regular supply of consumer fair returns on investment in the petroleum industry, protect the environment for present and future generations. * Ctrudnichestvo with non-member countries of OPEC in order to implement initiatives to stabilize the world oil market.

Full members can only be the founding members and those whose applications for admission had been approved by the Conference. Any other country, which exports large amounts of crude oil and has interests in substance similar to the interests of member countries, could become a full member, provided that its adoption will be approved by a majority of 3 / 4 votes, including votes of the founding members. Organizational Structure of OPEC The supreme body of OPEC - The Conference of Ministers of State, members of the organization, acting as the Board of Directors, in which each country is represented by one delegate. It usually attracts the most attention, not only the press, but also a key player in the global oil market. The Conference determines the main policies of OPEC, the ways and means for their implementation and take decisions on reports and recommendations to the Board of Governors, as well as on the budget. It requests the Council to prepare reports and recommendations on any matters of concern to the organization. Conference forms and the Governing Council (one representative from each country, as a rule - it is the ministers of oil, mining or energy). It also elects a president and appoint the Secretary General of the Organization. The Secretariat carries out its functions under the authority of the Governing Council. The Secretary-General is the highest official of the Organization, authorized representative and the head of the OPEC Secretariat. He organizes and directs the work of the Organization. The structure of the secretariat of OPEC is composed of three departments. Economic Commission for OPEC is to promote stability in international oil markets at fair prices, so that oil can maintain its value as a primary global energy source in accordance with the objectives of OPEC, is being closely monitored for changes in energy markets and to inform the Conference of the changes .