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OPEC Factbook
The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization. With its inaugural summit in Geopolity hosted by Da qing empire, it is expected that the organization will soon account for large chunks of global oil production and "proven" oil reserves, as well as subsequent global oil prices, thereby becoming a major player in global politics.
The stated mission of the organization is to "coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry." The organization is also a significant provider of information about the international oil market.
OPEC is headquartered in Pyongyang (Pingyang), Da qing empire, for its first plenary session. The first session will be attended by The hellenes league, Imperial Eagle, Infiny, Anzoania, Yucatan-chiapas, Orange-bourgogne, and Eulumia.
The OPEC Conference
The OPEC Conference is the supreme authority of the organization and consists of delegations normally headed by the oil ministers of member countries. The chief executive of the organization is the OPEC Secretary-General. The Conference ordinarily meets at the OPEC headquarters regularly, and in additional extraordinary sessions when necessary. It generally operates on the principles of unanimity and "one member, one vote", with each country paying an equal membership fee into the annual budget.
OPEC Member Stats
The bar to become an OPEC member is slightly unusual. Legal entities, alongside sovereign ones, are eligible for membership within OPEC. As a result, oil companies and a sovereign nation can simultaneously act as members of this prestigious organization. By widening the range of members, OPEC will be able to carry out its mission more efficiently, and have its decisions binding to more entities to improve the health and integrity of the global petrochemicals trade.
Below contains information regarding each member in OPEC:
Member | Daily Production (bbl/d) | Proven Oil Reserves | Proven Oil Shale Reserves | Proven Natural Gas Reserves | |
2,980,873 bbl/d | 44.28 billion bbl | 20 billion tonnes | 3.25 trillion cubic meters | ||
1,126,000 bbl/d | 27.78 billion bbl | 0.972 billion tonnes | 4.25 trillion cubic meters | ||
124,000 bbl/d | 0.49 billion bbl | Proven Oil Shale Reserves | 11.1 billion cubic meters | ||
Member | Daily Production (bbl/d) | Proven Oil Reserves | Proven Oil Shale Reserves | Proven Natural Gas Reserves | |
Member | Daily Production (bbl/d) | Proven Oil Reserves | Proven Oil Shale Reserves | Proven Natural Gas Reserves | |
Member | Daily Production (bbl/d) | Proven Oil Reserves | Proven Oil Shale Reserves | Proven Natural Gas Reserves | |
Member | Daily Production (bbl/d) | Proven Oil Reserves | Proven Oil Shale Reserves | Proven Natural Gas Reserves | |
Member | Daily Production (bbl/d) | Proven Oil Reserves | Proven Oil Shale Reserves | Proven Natural Gas Reserves | |
Member | Daily Production (bbl/d) | Proven Oil Reserves | Proven Oil Shale Reserves | Proven Natural Gas Reserves | |
Member | Daily Production (bbl/d) | Proven Oil Reserves | Proven Oil Shale Reserves | Proven Natural Gas Reserves |
Total Members | Total Daily Production (bbl/d) | Total Proven Oil Reserves | Total Proven Oil Shale Reserves | Total Proven Natural Gas Reserves | |
??? | XXX bbl/d | XXX bbl | XXX cubic meters |
Legislations
During the OPEC Conference, OPEC members will routinely vote on legislation which have the capability to impact the global petrochemicals trade. The legislations are as follows:
Sponsor: NATION
Co-sponsor(s): NATION(s)
Summary:
- Introduce your legislation here. Who/What/Where/Why/When/How?
Final Tally:
- FOR (XXX)
AGAINST (XXX)
ABSTAIN (XXX)
Formally Ratified: DD/MM/YY
Sponsor: Da qing empire
Co-sponsor(s): ???
Summary:
- The OPEC Crude Oil Benchmark (COB) is meant to serve as a reference price for buyers and sellers of crude oil across the world. Upon its passing, it will be used as an important benchmark for crude oil prices among OPEC members worldwide. The benchmark's upper limit will be set to $X.XX per barrel, while its lower limit will be set to $X.XX per barrel. The final aim is to keep the price of the OPEC Basket - which will be elaborated on further - between the OPEC COB's upper and lower limits by increasing and decreasing production. The OPEC Basket, which includes a mix of light and heavy crude oil products, will contain the following blends:
Qing crude "???"
Greek crude "???"
American crude "???"
Canadian crude "???"
British crude "???"
Yucatan crude "???"
Eulamian crude "???"
Final Tally:
- FOR (XXX)
AGAINST (XXX)
ABSTAIN (XXX)
Formally Ratified: DD/MM/YY
Sponsor: Da qing empire
Co-sponsor(s): ???
Summary:
- All OPEC members are required to levy a pre-determined percentage of their total oil production (including government and private production) towards OPEC's Shared Strategic Stockpile, as part of their membership obligations.
The Shared Strategic Stockpile (3S) is primarily meant to safeguard the international economy and help maintain OPEC's national security during an energy crisis. More plausibly, if prices are stochastic and sufficiently volatile, the 3S will be used to smooth production over time. In the event of an emergency, all contributing OPEC members will receive an equal share of 3S oil products.
Additionally, the 3S can be used to help alleviate the effects of natural disasters, if they manage to disrupt vital energy infrastructure to an OPEC member nation; if a non-OPEC member nation is in need of the 3S, a vote can be passed by all OPEC members to decide whether 3S crude should be provided as part of humanitarian efforts. The vote will pass if a (>50%) majority is fulfilled. The said recipient will be required to pay a predetermined price for the oil, plus negotiated option fees for the amount of oil previously held for them by OPEC.
In case of a severe worldwide oil supply disruption, OPEC members can voluntarily decide to release their share of the 3S stocks to the market as part of collective action.
Final Tally:
- FOR (XXX)
AGAINST (XXX)
ABSTAIN (XXX)
Formally Ratified: DD/MM/YY
Sponsor: Da qing empire
Co-sponsor(s): ???
Summary:
- The OPEC Standards for Occupational Safety (SOS) is meant to provide an "ideal benchmark" for safety for employees working in the petrochemicals industry within OPEC. OPECSOS's mission is to ensure that petrochemicals employees work in a safe and healthful environment by setting and enforcing standards, and by providing training, outreach, education and assistance. All OPEC members must comply with all applicable OPECSOS standards.
Oil rig construction: All oil rigs and their constituent components must be ISO 9001 certified, or come from an ISO 9001 certified manufacturer to ensure the best in quality.
Fire suppression: All oil rigs should have adequate facilities to suppress fires. This includes the mandatory installation of fire extinguishers in each room, and hypoxic fire suppression systems at sensitive areas. All workers should be briefed on damage control and fire suppression protocols, and be trained to respond to a variety of incendiary threats.
Surveying and exploration: Errors in positioning, or a poor understanding of spatial relationships, can be extremely costly and have huge significant safety and commercial implications (i.e: HSSE issues, legal costs, drilling targets missed, incorrect interpretation and understanding of reservoir characteristics, delays, etc.) OPECSOS standards will aim to avoid interactions regarding unmapped shallow gas, archaeological features, unexploded ordnance, and other threats which have the capacity to endanger offshore infrastructure. They will also contain damage control protocols in the event of existing seabed hardware and asset damage. OPEC may award OPECSOS certification to select tools for surveying and exploration, including select AUVs, ROVs, and sonar devices, which indicates its quality and satisfactory capabilities with respect to OPECSOS standards.
Offshore communications: At least 1 cellular tower should be installed offshore to allow cellular communications from rigs and platforms near the coast to onshore locations. This ensures that offshore workers will be able to communicate to family and friends through their own private devices, and that regular safety and security updates can be made in a timely fashion in the event of an emergency. It also ensures that any calls for distress or evacuation can be quickly responded to by local authorities.
Distress and emergency: All offshore rigs and platforms must have ample vehicles to facilitate evacuation in the event of an emergency. The combined capacity of all evacuation vessels should be equal to 120% of the number of employees onboard, and spread among no fewer than 6 locations. Ideally, an employee should be able to reach their nearest evacuation vessel in a maximum time of 2 minutes (120 seconds), and be ready to leave the offshore facility within 5 (300 seconds).
These standards include:
Final Tally:
- FOR (XXX)
AGAINST (XXX)
ABSTAIN (XXX)
Formally Ratified: DD/MM/YY