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Information C

enter
The Secretariat
The Secretariat
The OPEC Secretariat is responsible for has an Informat
Centre with ove ion
carrying out the executive functions of r 20,000 volum
including book es
the Organization, according to the OPEC s, reports, map
conference pro s an d
Statute and under the direction of the ceedingsrela
petroleum, ener te d to
Board of Governors. gy and the oil m
keeps journals arket. It
in Arabic, Engl
German and S ish, French,
The Secretary General is the Chief panish. The In
Centre is open fo rmation
Executive of the Secretariat, as well as to the public an
used by research d is often
the legally authorised representative of ers and studen
ts.
the Organization. He is assisted directly
by the Office of the Secretary General,
a Legal Office and an Internal Auditor.
OPECs first Secretary General was HE
Dr. Fuad Rouhani of Iran.
The Secretariat consists of a Research
Division, which monitors, forecasts and
analyzes developments in the global
energy industry. The Research Division
consists of the Departments of Data 61
61
Services, Energy Studies and Petroleum
Studies.
The Secretariat is also made up of a
Support Services Division, which includes
the Departments of Administration and
Information Technology, Finance and
Human Resources, and Public Relations
and Information.
The Secretariat is a
multicultural working THE OPEC SUMMIT
f the
environment. It has employees
h o u gh n o t a formal organ o
T mit
drawn from more than 30 the OPEC Sum
Organization, of
different countries. About Heads of State
brings together iscuss
a quarter of them are from
E C M em b er Countries to d
OP d make
Prof. Rig

importance an
gs

Member Countries. Others are gl o b al


su es o f
international employees. is
co m m en d at io ns to guide the
policy re
The official language of the Organization.
Organization is English.
O P E C S u m m it has proved to
The e group
e a ve ry ef fe ct ive way to mak
b nities
rovide opportu
decisions and p
er s to re vi ew the role of the
for lead
world affairs.
Organization in
Chapter 4 . About OPEC

Building bridges

G lobal events in recent years have


demonstrated the interconnected
nature of todays world. It is thus more
ongoing dialogue with other energy
stakeholders under the framework of the
International Energy Forum (IEF).
important than ever to coordinate
Another issue that OPEC considers
actions and work together with others
important for all global energy
when tackling these global challenges.
stakeholders is the role that governments
This is especially true for the oil industry,
and people everywhere have in
which reaches all corners of the Earth.
environmental protection efforts.
There are several issues that OPEC
OPEC Member Countries are
considers priorities for all global
continually looking for ways to work
energy stakeholders. One of these is
with others on this. The Organization
improving communicationsthrough
has participated in environmental
dialogue and cooperationbetween oil
conferences and seminars, and has
producers and consumers.
undertaken extensive studies of the
This is especially important in order relationship between the energy sector
62 to avoid market instability. OPEC has and global warming.
always said that avoiding instability and
At the same time, OPEC also supports
preserving market stability can only be
the efforts of its individual Member
achieved by cooperating with other
Countries to do what they can at
non-OPEC oil producers. the national levelsuch as develop
OPEC regularly meets with these other new technologies that enhance the
major oil producers such as Russia to environmental credentials of oil and
improve the understanding of the oil reduce the environmental impact of
industry and seek appropriate policy activities in the energy sector.
actions. To emphasize their overall commitment
Since it is an organization of oil- to the environment, the leaders of
producing countries, OPEC also meets OPEC Member Countries agreed to
regularly with large oil consumers. In fact, several principles set forth in the Riyadh
OPEC has an on-going dialogue with Declaration issued at the conclusion of
the European Union. OPEC also holds the Third OPEC Summit of Heads of
meetings and workshops with China. State held in Saudi Arabia in 2007. In it,
the Heads of State of OPEC Member
In addition, OPEC holds dialogues with Countries agreed that the themes of
other international organizations stability, sustainable development
such as the International Energy and the environment should guide all
Agency (IEA)and participates in Member Country initiatives.
WHAT IS OFID?
The OPEC Fund for International
Development (OFID) is an
institution that provides funding and
How does OPEC help other countries? other support to developing countries
around the world. According to
the agreement establishing OFID,
For decades, OPEC and its Member
all developing countries (with
Countries have found different ways
the exception of OPEC Member
to help poor countries. Much of this
Countries) are eligible for OFID
has been through individual Member
assistance.
Country national funds which have
made donations and aid available to OFID is active in many regions of the
poor countries, through bilateral and world. So far, people in 122 countries
multilateral arrangements. in Africa, Asia, Latin America, the
Caribbean, the Middle East and
Another way that OPEC helps
Europe have benefited from OFIDs
is through the
programmes. These programmes
OPEC Fund for
have included clean water and energy
International
projects; building schools, hospitals
Development
and roads; and developing industry
(OFID), which 63
and expanding trade opportunities.
helps finance
projects with low- These programmes have been
interest loans. financed by low-interest loans that
OFID provides to the public sector
During the First
in recipient countries. OFID also
OPEC Summit in
provides financing for private sector
Algiers, Algeria, held
projects in developing countries,
in 1975, OPEC Member
and provides grants to social and
Countries asked the
humanitarian projects.
international community
especially developed OFIDs financial resources come
countriesto work from its investments, loans and
together to help respond the voluntary contributions made
to the challenges facing by OPEC Member Countries. By
developing countries. the end of June 2013, OFIDs total
Following this Summit, in January approved commitments stood at US$
1976, OPECs Member Countries 15.7 billion (of which US$ 10.1 billion
decided to establish the OPEC Special has been disbursed).
Fund. This later became known as
the OPEC Fund for International For more information, visit
development (OFID). www.ofid.org or write to: OFID,
Parkring 8, 1010 Vienna, Austria.
Glossary of Terms

API gravity Developed by the American Petroleum Christmas tree In the oil and gas industry, a Christmas
Institute (API), the API gravity scale measures how heavy tree is an assembly of valves, dials and other fittings that help
or light petroleum liquids areits relative densitywhen control the level of oil, gas and/or water at an oil or gas well. It
compared to water. Although mathematically, API gravity has the very rough appearance of a green Christmas tree with
has no units, it is nevertheless referred to as being measured red decorations.
in degrees. When the API gravity is greater than 31, the
petroleum is considered lighter than water; when it is less than Coke / coking Coke is the product of a refining process
31, it is heavier than water. known as coking that uses heat and pressure to decompose (or
coke) heavy crude oil (or residual oil). It produces a mix of
Benchmark In general, a benchmark can be anything lighter oils that can then be blended or processed into other
that serves as a point of reference or standard against which products. Petroleum coke can even be used as a fuel or as an
other things can be compared, measured or evaluated. In the input in other industrial processes.
oil industry, benchmarks are used to establish the appropriate
price of crude oil and are needed due to the existence of so Cracking This is a refinery process where heavier,
many different varieties and grades of crude. By referring to more complex forms of hydrocarbons are broken down (or
64 a specific crude oil as a benchmark, traders can determine cracked) into lighter and simpler forms by breaking the bonds
the price and value of other kinds of crude. The most widely between carbon molecules. Through this process, higher value
accepted benchmarks in the industry are Brent, Dubai, West hydrocarbon products are produced. Cracking can be done
Texas Intermediate (WTI) and the OPEC Reference Basket by applying heat (thermal cracking), through the application
(ORB) of Member Country crudes. Brent is used to price most of a chemical catalyst (catalytic cracking) or with catalysts and
of the worlds crudes; Dubai is used to price regional crudes hydrogen (hydro-cracking).
from the Gulf; WTI is usually used to price oil in the US.
Crude oil Crude oil is a mixture of hydrocarbons that
Bitumen Bitumen is a black, viscous sticky organic liquid exist in liquid form in natural underground reservoirs and
composed primarily of condensed chemical compounds. Often which remain liquid at atmospheric pressure after passing
referred to as asphalt or asphalt cement, bitumen is usually a through surface separating facilities. Substances reported as
by-product or residue that is left after the fractional distillation crude oil include: liquids technically defined as crude oil; small
of crude oil and is the one with the highest boiling point. amounts of hydrocarbons that exist in a gaseous form in natural
Most bitumen contain sulphur and heavy metals such as lead, underground reservoirs but which are liquid at atmospheric
chromium, mercury, nickel and vanadium, as well as other toxic pressure after being recovered from gas.
elements.
Distillate yields In the refining process, when crude
Booster station This is a specialized station where oil is compressed and heated, it produces (or yields) different
crude oil received from one main pipeline is pressurized so substances (distillates) at successively high temperature levels.
that it can then be sent to the next destination or terminal for
further transportation or refining. Fractions This refers simply to the different products
that can be separated or refined from crude oil.
Catalyst A catalyst is any chemical substance that
accelerates the rate of a reaction without being used up itself in Geoscientist Geoscientists are experts who look at
the process. In the oil refining processes, chemical catalysts speed and study the physical aspects of the Earth in order to better
up cracking. Catalysts include bauxite, zeolite and silica-alumina. understand the composition of its rocks, underground water
and earth. They are often employed in the search for oil, as well Permeability This is the condition of allowing
as other natural resources. substances like water to flow into or out of an object. When a
rock is porous and allows oil to accumulate in it or flow out of it
Grades Grades refers to a way of classifying the many easily, it is considered highly permeable.
varieties of crude oil that exist around the world. The
commonly accepted grades are: Seismic Anything that has to do with vibrations or tremors
in an object or a body. This is most often used when describing
Light / Heavy These terms refer to different grades vibrations in the Earth, which can be naturally occurring (as
of crude oil. Heavy crude has a low API Gravity and a high in earthquakes). In oil exploration, seismic technology sends
proportion of heavy hydrocarbon fractions; light crude has high sound waves that cause underground vibrations, bounce back
API Gravity but a low proportion of light hydrocarbon fractions. to the measuring tools and are then measured and analyzed for
Both heavy and light crudes can also be classified as sour or sweet. signs of oil deposits.

Sour / Sweet These are terms used to denote a Sovereign nations A country or nation that has
given crude oils sulphur content. Crude oil with a high sulphur complete political authority over its own decisions and actions
content (0.5% by weight and above) is considered sour; crude is considered sovereign. 65
with a low sulphur content (less than 0.5%) is considered sweet.
Either kind of crude can also be further classified as heavy or Stakeholders This refers to any number of individuals
light. or groups that have an interest (or a stake) in some event or
process. It is a term that is often used to refer simply to those
Hydrocarbons Any organic compound that is made up who stand to benefit or lose from the pursuit of a particular
of only hydrogen and carbon atoms is considered a hydrocarbon. policy or action.
Crude oil is a kind of liquid hydrocarbon.
Upstream / downstream These are the two major
Intergovernmental organization An inter sectors of the oil industry. The upstream generally refers to
governmental organization is an organization set up by and the exploration and production aspects of the business, and
composed of several governments from any region of the world pertains to all the activities and equipment located in both
who share a common interest. They work collectively and the production train and above the surface by the wellhead.
collaboratively to achieve their common objective and to carry The downstream, in turn, denotes the commercialization
out projects and plans that benefit the organization. of petroleum products, referring to operations after the
production phase that is, oil refining and retailing, and the
Non-OPEC oil producers These are countries that distribution of refined products.
produce and export oil but which are not members of OPEC.
Sources: Barrons Dictionary of Finance & Investment Terms, CFTC
Non-renewable energy Energy sources which exist Glossary, Energy Information Administration, IMF Terminology
in nature in finite quantities are considered non-renewable
sources of energy. These include coal, natural gas, nuclear Database, Merriam-Webster Dictionary; NYMEXs Glossary of
energy and petroleum. Renewable energies, on the other hand, Terms, OPEC, Oxford English Dictionary, Schlumbergers Oilfield
are those energies that are continuously available, such as wind Glossary, The Street, The United Nations.
and solar energies.
Bibliography & Resources

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Contributors
Director, Research Division
Dr. Hasan M Qabazard

Head, Public Relations & Information Department


Ulunma Angela Agoawike

Public Relations Coordinator


Zoreli Figueroa

Editor
Mario Fantini

Design and Production Coordinator


Alaa Al-Saigh

Additional input by
Dr. Fuad Siala, Dr. Taher Najah, Dr. Pantelis
Christodoulides, Dr. Mohammad Taeb and
Elio Rodriguez

Additional support was provided by


Ghada Sahab, Diana Golpashin, Diana Khoury,
Andrea Birnbach, Sheila Kriz, Beatrix Mayer-Karolyi
and Yi Wen Huang
Organization of the
Petroleum Exporting Countries
Helferstorferstrasse 17,
A1010, Austria
Second edition
www.opec.org ISBN 978-3-200-02193-8