"Na democracia, o processo de formação das políticas públicas demanda participação de todos os segmentos da sociedade civil, informação confiável, representação qualificada, transparência e ética."
Confederação Nacional do Petróleo,Gás Natural, Biocombustíveis e Energias Renováveis
A Serviço do Desenvolvimento do BRASIL
Dr. Marcílio Novaes Maxxon
"O combate à corrupção está intimamente vinculado à transparência".
INTELIGÊNCIA POLÍTICA Compromisso com a TRANSPARÊNCIA CONPETRO
Organization of the Petroleum Exporting Countries OPEC
OPEC Secretary General Abudllah Al Badri adjusts his glasses during a news conference at the end of an OPEC oil ministers meeting in Vienna October 14, 2010. OPEC on Thursday kept intact a supply policy that has served it well for nearly two years and... View Photo »
The Organization of the Petroleum Exporting Countries (OPEC, pronounced /ˈoʊpɛk/OH-pek) is a cartel of twelve countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965,[2] and hosts regular meetings among the oil ministers of its Member Countries. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter in the world again.[3]
According to its statutes, one of the principal goals is the determination of the best means for safeguarding the cartel's interests, individually and collectively. It also pursues ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry.[4]
OPEC's influence on the market has been widely criticized, since it became effective in determining production and prices. Arab members of OPEC alarmed the developed world when they used the oil weapon during the Yom Kippur War by implementing oil embargoes and initiating the 1973 oil crisis. Although largely political explanations for the timing and extent of the OPEC price increases are also valid, from OPECs point of view, these changes were triggered largely by previous unilateral changes in the world financial system and the ensuing period of high inflation in both the developed and developing world. This explanation encompasses OPEC actions both before and after the outbreak of hostilities in October 1973, and concludes that OPEC countries were only staying even by dramatically raising the dollar price of oil.[5]
OPEC's ability to control the price of oil has diminished somewhat since then, due to the subsequent discovery and development of large oil reserves in Alaska, the North Sea, Canada, the Gulf of Mexico, the opening up of Russia, and market modernization. OPEC nations still account for two-thirds of the world's oil reserves, and, as of April 2009, 33.3% of the world's oil production, affording them considerable control over the global market. The next largest group of producers, members of the OECD and the Post-Soviet states produced only 23.8% and 14.8%, respectively, of the world's total oil production.[6] As early as 2003, concerns that OPEC members had little excess pumping capacity sparked speculation that their influence on crude oil prices would begin to slip.[7][8]
Venezuela and Iran were the first countries to move towards the establishment of OPEC in the 1960s by approaching Iraq, Kuwait and Saudi Arabia in 1949, suggesting that they exchange views and explore avenues for regular and closer communication among petroleum-producing nations.[citation needed] The founder members are Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Later members include Algeria, Ecuador, Gabon, Indonesia, Libya, Qatar, Nigeria, and the United Arab Emirates.
In 1014 September 1960, at the initiative of the Venezuelan Energy and Mines minister Juan Pablo Pérez Alfonzo and the Saudi Arabian Energy and Mines minister Abdullah al-Tariki, the governments of Iraq, Iran, Kuwait, Saudi Arabia and Venezuela met in Baghdad to discuss ways to increase the price of the crude oil produced by their respective countries.[citation needed] OPEC was founded in Baghdad, triggered by a 1960 law instituted by American President Dwight Eisenhower that forced quotas on Venezuelan and Persian Gulf oil imports in favor of the Canadian and Mexican oil industries.[citation needed] Eisenhower cited national security, land access to energy supplies, at times of war.[citation needed] When this led to falling prices for oil in these regions, Venezuela's president Romulo Betancourt reacted by seeking an alliance with oil producing Arab nations as a preemptive strategy to maintain the continued autonomy and profitability of Venezuela's oil resources.[citation needed]
Oil exports imports difference
As a result, OPEC was founded to unify and coordinate members' petroleum policies. Original OPEC members include Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. Between 1960 and 1975, the organization expanded to include Qatar (1961), Indonesia (1962), Libya (1962), the United Arab Emirates (1967), Algeria (1969), and Nigeria (1971). Ecuador and Gabon were early members of OPEC, but Ecuador withdrew on December 31, 1992[9] because it was unwilling or unable to pay a $2 million membership fee and felt that it needed to produce more oil than it as allowed to under the OPEC quota,[10] although it rejoined in October 2007. Similar concerns prompted Gabon to suspend membership in January 1995.[11]Angola joined on the first day of 2007. Norway and Russia have attended OPEC meetings as observers. Indicating that OPEC is not averse to further expansion, Mohammed Barkindo, OPEC's Secretary General, recently asked Sudan to join.[12] Iraq remains a member of OPEC, but Iraqi production has not been a part of any OPEC quota agreements since March 1998.
In May 2008, Indonesia announced that it would leave OPEC when its membership expired at the end of that year, having become a net importer of oil and being unable to meet its production quota.[13] A statement released by OPEC on 10 September 2008 confirmed Indonesia's withdrawal, noting that it "regretfully accepted the wish of Indonesia to suspend its full Membership in the Organization and recorded its hope that the Country would be in a position to rejoin the Organization in the not too distant future." [14]
Long-term oil Prices, 1861-2007 (orange line adjusted for inflation, blue not adjusted).
The persistence of the Arab-Israeli conflict finally triggered a response that transformed OPEC into a formidable political force. After the Six Day War of 1967, the Arab members of OPEC formed a separate, overlapping group, the Organization of Arab Petroleum Exporting Countries, for the purpose of centering policy and exerting pressure on the West over its support of Israel. Egypt and Syria, though not major oil-exporting countries, joined the latter grouping to help articulate its objectives. Later, the Yom Kippur War of 1973 galvanized Arab opinion. Furious at the emergency re-supply effort that had enabled Israel to withstand Egyptian and Syrian forces, the Arab world imposed the 1973 oil embargo against the United States and Western Europe, while non-Arab OPEC members did not.[citation needed]
After 1980, oil prices began a six-year decline that culminated with a 46 percent price drop in 1986. This was due to reduced demand and over-production that produced a glut on the world market. Around this period, Iraq also increased its oil production to help pay for the Iran-Iraq War. Overall OPEC lost its unity and thus its net oil export revenues fell in the 1980s.[citation needed]
Leading up to the 1990-91 Gulf War, Iraqi President Saddam Hussein advocated that OPEC push world oil prices up, thereby helping Iraq, and other member states, service debts. But the division of OPEC countries occasioned by the Iraq-Iran War and the Iraqi invasion of Kuwait marked a low point in the cohesion of OPEC. Once supply disruption fears that accompanied these conflicts dissipated, oil prices began to slide dramatically.
After oil prices slumped at around $15 a barrel in the late 1990s, concerted diplomacy, sometimes attributed to Venezuelas president Hugo Chávez, achieved a coordinated scaling back of oil production beginning in 1998. In 2000, Chávez hosted the first summit of heads of state of OPEC in 25 years. The next year, however, the September 11, 2001 attacks against the United States, the following invasion of Afghanistan, and 2003 invasion of Iraq and subsequent occupation prompted a surge in oil prices to levels far higher than those targeted by OPEC during the preceding period. Indonesia withdrew from OPEC to protect its oil supply interests.
On November 19, 2007, global oil prices reacted strongly as OPEC members spoke openly about potentially converting their cash reserves to the euro and away from the US dollar.[16]
The economic needs of the OPEC member states often affects the internal politics behind OPEC production quotas. Various members have pushed for reductions in production quotas to increase the price of oil and thus their own revenues.[17] These demands conflict with Saudi Arabia's stated long-term strategy of being a partner with the world's economic powers to ensure a steady flow of oil that would support economic expansion.[18] Part of the basis for this policy is the Saudi concern that expensive oil or oil of uncertain supply will drive developed nations to conserve and develop alternative fuels. To this point, former Saudi Oil Minister Sheikh Yamani famously said in 1973: "The stone age didn't end because we ran out of stones."[19]
One such production dispute occurred on September 10, 2008, when the Saudis reportedly walked out of OPEC negotiating session where the cartel voted to reduce production. Although Saudi Arabian OPEC delegates officially endorsed the new quotas, they stated anonymously that they would not observe them. The New York Times quoted one such anonymous OPEC delegate as saying Saudi Arabia will meet the markets demand. We will see what the market requires and we will not leave a customer without oil. The policy has not changed.[20]
Membership
Current members
OPEC has twelve member countries: six in the Middle East, four in Africa, and two in South America.
OPEC is a swing producer[26] and its decisions have had considerable influence on international oil prices. For example, in the 1973 energy crisis OPEC refused to ship oil to western countries that had supported Israel in the Yom Kippur War or 6 Day War, which Israel had fought against Egypt and Syria. This refusal caused a fourfold increase in the price of oil, which lasted five months, starting on October 17, 1973, and ending on March 18, 1974. OPEC nations then agreed, on January 7, 1975, to raise crude oil prices by 10%. At that time, OPEC nations including many who had recently nationalized their oil industries joined the call for a new international economic order to be initiated by coalitions of primary producers. Concluding the First OPEC Summit in Algiers they called for stable and just commodity prices, an international food and agriculture program, technology transfer from North to South, and the democratization of the economic system.[citation needed] Overall, the evidence suggests that OPEC did act as a cartel, when it adopted output rationing in order to maintain price.[27]
Since currently worldwide oil sales are denominated in U.S. dollars, changes in the value of the dollar against other world currencies affect OPEC's decisions on how much oil to produce. For example, when the dollar falls relative to the other currencies, OPEC-member states receive smaller revenues in other currencies for their oil, causing substantial cuts in their purchasing power. After the introduction of the euro, pre-invasion Iraq decided it wanted to be paid for its oil in euros instead of US dollars causing OPEC to consider changing its oil exchange currency to euros, although after Iraq's invasion, the interim government reversed this policy, and the subsequent Iraq governments stuck to the US dollar.[28] Member states Iran[29] and Venezuela[30] have undergone similar shifts from the dollar to the Euro.
Quotas circa 2005
OPEC Quotas and Production in thousands of barrels per day [31]
A national oil company (NOC) is an oil company fully or in the majority owned by a national government. According to the United States Energy Information Administration, NOCs accounted for 52% global oil production and controlled 88% of proven oil reserves in 2007.[1]
Due to their increasing dominance over global reserves, the importance of NOCs relative to International Oil Companies (IOCs), such as ExxonMobil, BP, or Royal Dutch Shell, has risen dramatically in recent years. NOCs are also increasingly investing outside their national borders.
National Oil Companies (NOCs) control the dominant share of worldwide hydrocarbon resource endowments, as actual producers, or as the gatekeepers for exploitation access by international energy companies. In addition, approximately 60 percent of the undiscovered reserves are estimated to lie in countries where NOCs have privileged access to reserves. Thus, future production is likely to come mainly from NOCs. Even the smallest NOCs are powerful organizations within their nation-states. They are charged with serving the public interest in a number of ways: supplying essential energy fuels and associated services; generating revenue streams that contribute to economic development; responsibly managing environmental and other risks; and performing well in many other regards.
Motivated by the relevance of NOCs to the economic performance of many of its member countries, the World Bank has recently launched a Study on NOCs and Value Creation. There is a long history of governments attempts to reorganize their NOCs in pursuit of efficiency, improved governance, greater control, and other political or economic objectives, with mixed results. The Study will analyze the outcomes from these different efforts, incorporate recent developments in the governance of state-owned enterprises, and suggest which approaches have the best prospects for success.
Study Objectives
To inform governments' policies with respect to the creation and the effective and efficient management and oversight of an NOC.
To provide the foundations for the World Bank's policy advice on the management and oversight of the petroleum sector.
Expected Results
Improved understanding of the petroleum sector value chain and of the policy options that are best suited to maximize the benefits to the state at each link of the chain.
Improved policy makers' awareness of the relative effectiveness and suitability of alternative policies for the management and oversight of the petroleum sector, with particular reference to role and functioning of NOCs.
Consistency in the Bank's advice on petroleum sector governance and NOCs.
Background Papers
Draft Preface The Most Salient Advances in the Research on National Oil Companies: An Overview There is a vast literature on the basis for state intervention in the economy, and its comparative advantage vis-à-vis private ownership. A number of important papers on oil resource ownership were written in the 1980s and early 1990s. Thereafter, however, the industry received limited attention. It was not until the early 2000s that NOCs transparency, governance, and efficiency started to interest the research community and policy makers, and various issues started to mobilize the headlines worldwide: from peak oil to alternative sources of energy; from access to reserves to the relative ability of NOCs and privately owned oil companies to replace their reserves; from
NOCs efficiency and its impact on supply-side constraints to security of supply and geopolitical risks. The paper contains an overview of existing literature on NOCs, and outlines areas for further analysis within the context of the Study on NOCs and Value Creation.
Draft Chapter 1 The Petroleum Sector Value Chain The oil and gas industry encompasses a range of different activities and processes, which jointly contribute to the transformation of underlying petroleum resources into useable end-products valued by industrial and private customers. These different activities are inherently linked with each other (conceptually, contractually and/or physically), and these linkages might occur within or across individual firms, and within or across national boundaries. Chapter 1 describes the key activities of the industry value chain, and presents some of the key policy decisions associated with the different stages of the value chain.
Draft Chapter 2 Overview of the Political and Economic Arguments in Favor and Against the Establishment of a NOC Decisions regarding the creation and management of NOCs can be appreciated within the general context of government intervention in the economy. Its degree tends to change over time in response to exogenous (e.g. geopolitics, economy) and endogenous (e.g. state objectives) factors, affecting the existence and behavior of NOCs. This chapter presents the key arguments in favor of and against the creation of a NOC, taking into consideration their historical context.
Draft Chapter 3 Overview of Advances in the Governance of State Owned Enterprises (forthcoming) The corporate governance structure of an SOE is important because it affects the strategic options available to it, and its ability to create value.This chapter provides an overview of the recent advances in the corporate governance of SOEs, and discusses whether some of these measures are applicable to NOCs.
Draft Chapter 4 The Performance and Value Creation of NOCs: an Analytical Framework The petroleum sector is of significant importance to many countries around the world. Therefore, the attempt of identifying, measuring, benchmarking and improving NOC value creation is vital for the broader effort of improving standards of living in these countries. This chapter sets out a preliminary analytical framework for assessing the performance and value creation of NOCs, and presents a conceptual model of the various socio-political, economic and managerial variables that are likely to affect value creation within a national petroleum sector. The model describes the linkages between initial conditions (e.g. economic or political context), human and organizational agency (specific objectives, choices and behavior), and the outcome variable of value creation. Together the context and agency variables constitute the drivers of value creation.
US President Barack Obama (R) speaks with some of the Americans involved in the Chilean mine rescue effort during a meeting in the Oval Office of the White House in Washington, DC, October 28, 2010. View Photo »
WASHINGTON - OCTOBER 28: U.S. President Barack Obama meets with some of the Americans involved with the rescue of Chilean miner in the Oval Office of the White House October 28, 2010 in Washington, DC. Thirty-three miners were rescued from a collapsed... View Photo »
WASHINGTON - OCTOBER 28: U.S. President Barack Obama meets with some of the Americans involved with the rescue of Chilean miner in the Oval Office of the White House October 28, 2010 in Washington, DC. Thirty-three miners were rescued from a collapsed... View Photo »
U.S. Secretary of State Hillary Clinton (R) walks with U.S. Senator for HawaiiDaniel Inouye (L) before giving a foreign policy speech regarding U.S.-Asia Pacific relations ahead of her trip to the Asian Pacific region, in Honolulu October 28, 2010. View Photo »
U.S. Secretary of State Hillary Clinton walks onto stage before giving a foreign policy speech regarding U.S.-Asia Pacific relations ahead of her trip to the Asian Pacific region, in Honolulu October 28, 2010. View Photo »
U.S. Secretary of State Hillary Clinton gives a foreign policy speech regarding U.S.-Asia Pacific relations before her trip to the Asia Pacific region in Honolulu, Hawaii October 28, 2010. View Photo »
Saudi prince Alwaleed bin Talal suggested that a new location should be found for the proposed Islamic centre close to Ground Zero in New York. Photograph: Ahmed Jadallah/Reuters A Saudi prince associated with the imam behind a proposed Islamic centre ne Full Article at Guardian Unlimited
French Economy, Industry and Employment minister Christine Lagarde arrives at the Elysee Palace prior to a meeting France/China on November 4, 2010 in Paris. Chinese president Hu Jintao Hu is on a three-day state visit during which France hopes to clinch billions of dollars in deals for nuclear, aviation and energy technology.
A Ministra da Economia, Indústria e Emprego da França Christine Lagarde, esteve durante o dia 8 de setembro (terça-feira), em São Paulo trabalhando com diversos empresários na Construção de Parcerias Estratégicas com o Brasil. Em sua companhia estava o empresário e presidente da Confederação Nacional do Petróleo, Gás Natural, Biocombustíveis e Energias Renováveis (Conpetro), Marcílio Novaes Maxxon, prestigiado pela França em todos os seus contatos.
History repeats itself. It only gets more expensive with every time. Watch this video (h/t @fiatcurrency) on the turmoil 30 years ago when OPEC members withdrew a mere $5.5 billion in money market funds, sparking golds vertical move to $850. This time not even $5.5 TRILLION will help if institutions like JP Morgan sit on $45 Trillion in derivatives. And you still think there will be any other end to this than an unorderly unwind, to say the least? Think again, the flicker of bad headlines looks increasingly as history will repeat itself again.
Remember, we are now in the 4th year of the financial crisis and there has not been a single measure of regulation that has gone into effect. Derivatives? Not a single step taken! Hedge funds? EU regulations will come in 2018! Banks? Basel 3 will set into motion in 2019! But we have a crisis TODAY! Those responsible for the crisis are still in office! Why?
MIAMI - OCTOBER 28: Independent Senatorial candidate Florida Governor Charlie Crist (L) swears in Miami-Dade County Judge Beth Bloom to the Eleventh Judicial Circuit Court at the Dade County courthouse October 28, 2010 in Miami, Florida. Her husband... View Photo »
Oil nears record high of $104 a barrel at the NYMEX in New York
Confederação Nacional do Petróleo, Gás Natural, Biocombustíveis e Energias Renováveis
A Serviço do Desenvolvimento do BRASIL
A CONPETRO, representa e congrega os setores da Indústria e do Comércio de Bens & Serviços da cadeia produtiva do Petróleo, Gás Natural, Biocombustíveis e Energias Renováveis do BRASIL.
"Ética, transparência e respeito são a base da nossa relação com à sociedade".