Minutes of OPEC meetings, 1976-1980, inclusive

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics discussed included the relative values of crude oils originating from the same region but destined toward various consuming regions; the role of Group 77, to which many of OPEC's member states belonged and its support of the Manila Declaration, the status of the headquarters building in Vienna, Also included was the text of the welcoming speech given by the President of Indonesia, Suharto.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics discussed included the 1977 budget, the headquarters building in Vienna, a report of the Economic Commission on crude oil prices, a report on the stockpiling of oil reserves by consumer states (non-OPEC nations), the appointment of Ali Mohammed Jaidah of Qatar as the next Secretary General, the administrative restructuring of OPEC and the call for a greater role in public relations, among other issues. Also includes text of opening speech by Sheikh Khalifa bin Hamad al-Thani, the ruler of Qatar.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics discussed included the relative prices of crude oil, and continued attempts to devise an equitable formula to be applied among member states; the relationship of OPEC to the Council on International Economic Cooperation; production programming, and responses to stockpiling of oil among non-OPEC nations.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics addressed included continued discussion of the relative values of heavy crudes, the impact of inflation on purchasing power of oil revenues, as well as the related impact to the weakening of the U.S. dollar, the 1978 budget, and the restructuring of the OPEC Secretariat. Also included text of speeches by Carlos Andres Perez, president of Venezuela, which focused at length on OPECs role as an advocate for the interests of developing countries versus industralized ones, and ideas for furtherance of those interests.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Includes financial and auditor's reports, report of Secretary General,and Economic Commission. Topics discussed included whether or not OPEC should join the Council of Associations of Developing Countries Producers/Exporters of Raw Materials, the recent meeting of chiefs of OPEC National Oil Companies, determination of the types of statistical data member countries should be required to provide to OPEC, and the impact of inflation and fluctuations in currency values on prices of oil and revenues, and how OPEC should respond in the face of such challenges.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included review of the 1979 budget, the reports of working parties on petrochemicals and statistics, the report of the meeting of chiefs of OPEC National Oil Companies, and the question of how OPEC should respond to inflation and the continued devaluation of the US dollar. To the latter, OPEC announced that it would raise prices of crude in a moderated fashion in accordance with inflation, but not at the full rate of inflation. Rene Ortiz of Ecuador was also appointed as the new Secretary General, and proposals to add languages other than English (especially Arabic) as official languages of OPEC was once again discussed.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics focused largely on pricing of oil and perceived discrepancies between prices charged by OPEC member state producers and outside oil companies, and the impact this was having on consumers, especially those in developing countries. A resulting acceleration in the increase of OPEC prices per barrel on crude was announced.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics discussed included impact of inflation on oil revenues and the purchasing power of developing countries, the replenishment of the OPEC Special Fund to aid such countries, critiques of industrialized countries for their perceived unwillingness to assist developing countries, an increase in the price per barrel of crude from OPEC countries to address this situation, and the proposal to price OPEC crude using a basket of currencies rather than relying solely on the US dollar. The negative public image of OPEC was also addressed, and the need for the organization to respond, particularly in developing countries.

Representatives in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. The primary topic was to address findings of a working group on staffing, education and training for the oil industry in OPEC member states.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included the expansion of the OPEC Special Fund, both in size and scope, to assist other developing countries and increase solidarity between them and OPEC, the development of OPEC public relations, responses to the continuing challenges of inflation and devaluation of the US dollar, and reports of the Working Party on Petrochemicals and the fourth meeting of the Chief Executives of OPEC National Oil Companies. Includes text of opening address by Venezuelan President Luis Herrera Campins.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included the Long-Term Strategy Report, which was accepted with some reservations by a few member states, the upcoming meeting of Foreign Ministers of OPEC member states as a venue for addressing relations with industralized countries, the upcoming meeting of OPEC heads-of-state in Baghdad, the pricing of natural gas in relation to crude oil, and the decision of member countries not to replace Iran's withheld exports on the international market.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included the financial and auditor reports for 1979, the supplementary budget for 1980s, reports on the fifth meeting of chief executives of National Oil Companies and the fourth meeting of the working group on petrochemicals, the proposed establishment of an OPEC News Agency, planning for the summit of leaders of OPEC member states, further development of the long-term strategy of OPEC, the raising of the per-barrel price of crude oil as a strategy to combat stockpiling of oil reserves, and aligning pricing strategies of natural gas with those used for crude oil in member states that produce both. Also includes texts of speeches by conference president Humberto Calderon Berti of Venezuela, and President Chadli Benjedid of Algeria.

Representatives in attendance: Algeria, Ecuador, Indonesia, Iran, Kuwait, Nigeria, Saudi Arabia. The report looked at projected production and pricing of petrochemical products over the next decade, operational problems of member countries in developing their industries, and defining means of cooperation among member states in a market environment, among other issues.

Representatives in attendance: Algeria, Ecuador, Gabon, Indonesia, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics included the survey of training institutions available to staff in member states, the report of the working group on refining operations that met in Jakarta the previous February, and ways to coordinate purchases of goods and services.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. The main topic was member states should best respond to the surplus of oil on worldwide markets, attributed to stockpiling of reserves by consumer nations, and the impact this was having on oil revenues in member states. The resulting decision was to lower the price per barrel of crude and freeze prices for the time being.

Delegations in attendance: Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Topics included approval of the 1981 budget, the proposed educational institute for training personnel working in the petroleum industry, the extension of the incumbent Secretary General's term by one year, and the report of the 52nd meeting of the Economic Commission, upon whose recommendations per barrel prices of crude were raised once again. Discussion was also given to the war that had recently broken out between two member states, Iran and Iraq, and attempts to resolve their differences from within OPEC. Also included were paraphrased texts of speeches from conference president Dr. Subroto (Indonesia) as well as Indonesian President Suharto.