Minutes of OPEC meetings, 1960-1969, inclusive

No minutes of meeting available.

Delegations present: Iran, Iraq, Kuwait, Qatar, Saudi Arabia, Venezuela. Discussion of administrative structure of OPEC, its budget, and the proposed location of its headquarters, and nomination of Juan Pablo Perez Alfonzo to chairmanship. Also included discussion of requirements for admission to membership, including acceptance of Qatar as member and review of requests from Trinidad and Colombia. Text of speeches delivered by Fouad Rouhani (Iran), Juan Pablo Perez Alfonzo (Venezuela), Mohamed Salman (Iraq), and the President of Venezuela, Romulo Betancourt.

Delegations in attendance: Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela Topics covered included determining budget for 1964, appointment of auditors, reorganizstion of the Secretariat, discussion of country to host headquarters (Switzerland), proposed membership of Emirate of Abu Dhabi, appointment of Abdul Rahman Bazzaz (Iraq) to succeed Fouad Rouhani as Secretary General, the status of negotations between OPEC and various oil companies, and mechanisms for determining the price of crude oil. Text of speeches by Crown Prince Faisal of Saudi Arabia, Ahmad Zaki Yamani (Saudi Arabia).

Delegations in attendancd: Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics discussed included the drop in oil production in Saudi Arabia, and questions about its likely causes; a proposed embargo by OPEC members on shipments of oil to South Africa, in order to protest that state's policy of apartheid; the formation and function of an inter-OPEC court, the intention of Algeria to join OPEC as a member state, and discussions of how member states negotiate with oil companies for setting oil prices.

Delegations in attendance: Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics discussed included modifications to OPEC's statutes, delineation of the role of Secretary General and the proposed role of Deputy Secretary General, the budget for 1965, the role of royalties paid by oil companies to OPEC member governments, and continued difficulties in negotiations for such, report of the OPEC Economic Commission (regarding pricing), the nomination of Ashraf Lutfi (Kuwait) to serve as the next Secretary General

Delegations in attendance: Indonesia, Iran, Iraq, Libya, Kuwait, Qatar, Saudi Arabia, Venezuela. Discussions largely centered around the question of excess production and whether OPEC could limit excess production and stabilize or increase oil prices, including how production allocations among member countries would be determined, and what the side effects of this could be. The delegates presented and approved a production program, reviewed changes in the organization's statutes, and also discussed moving the headquarters of OPEC from Geneva to another country, with Austria being the leading candidate.

Delegations in attendance: Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics discussed included the findings of an appended report from the Economic Commisssion, which covered topics such as obtaining price information and the implementation of a joint production program. The move of the OPEC headquarters from Geneva to Vienna was also discussed and approved, and challenges related to obtaining pricing information from companies working in Qatar were addressed. Text of speeches by Manuel Perez Guerrero (Venezuela), Fuad al-Kabazi (Libya)

Items covered--and later discussed at the meeting in Tripoli in July 1965--included pricing information, draft letter to oil companies requesting crude oil assay data (relevant to situation in Qatar), weaknesses in Libyan oil prices attributed to activities of independent oil companies there, and methods for implementing a joint production program.

Delegations in attendance: Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Discussion included question of whether individual governments should negotiate allowances with oil companies, or whether should have unified approach driven by OPEC; as well as the amendment of the Libyan Petroleum Law, the proposed budget for 1966, and how the implementation of the joint production program would be impacted by production levels of non-OPEC producers, such as Abu Dhabi and Nigeria. The role of countries that had been observers at OPEC meetings, such as Algeria, Colombia, and Trinidad, was discussed, and whether those countries should be persuaded to join as members. Ashraf Lutfi's term as Secretary General was extended by one year, and the decision to appoint a Deputy Secretary General was deferred to the next meeting.

Delegations in attendance: Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Observer: Algeria. Topics discussed included the proposal to use prices reported as a means of imposing income taxes on companies in the member countries, the further development of the joint production program, the invitation to Nigeria to attend the next conference as an observer, and comments from the Algerian observer in attendance.

Delegations in attendance: Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Observer: Nigeria. Topics included adoption of 1967 budget, amendments to OPEC statute (concerning reorganization of Secretariat), proposed declaratory statement on oil policy, the proposed invitation to the emirate of Abu Dhabi to attend as an observer or to discuss possible membership, the further development of the Joint Production Programme, application of posted prices for tax purposes, production levels, review of the first meeting of national oil companies held in Caracas in October 1966, nomination of Mohammed Saleh Joukhdar of Saudi Arabia to be the next Secretary General, extending of invitations to Nigeria, Algeria, and Colombia to attend subsequent meetings as observers, with the hope that their countries would join as members, and texts of speeches by retiring president (Dr. Saleh Kubba), incoming president (Sheikh Sabah al-Ahmed al-Sabah, of Kuwait), and observer from Nigeria (F.R.A. Marinho) and closing speech by acting president Khaled al-Jasar.

Topics included the submission of pricing data by oil companies to governments (citing example of Qatar), gathering data about oil exports by destination, and a review of the work of the seven previous meetings of the commission toward defining the Joint Production Programme.

Delegations in attendance: Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics included the effect of the closure of the Suez Canal due to the Six Day War and Israeli occupation of Sinai, including the increase in oil prices passed on to consumers and the increase in freight rates charged by oil tankers, and the corresponding proposal at the meeting to levy taxes on them. In addition, the members agreed to extend an invitation to the emirate of Abu Dhabi to join OPEC.

Delegations in attendance: Abu Dhabi, Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics included welcoming Abu Dhabi as a new member, the discussion of the 1968 budget, the proposed elimination of allowances and gravity correction, presentation of a report on the impact of proposed taxation of tanker earnings, discussion of a report from the Economic Commission on the proposed Production Programme, proposed outreach to consumers by establishing an office in Brussels to interact with the EEC, nomination of Francisco Parra of Venezuela as the next Secretary General.

Delegations in attendance: Abu Dhabi, Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics included the proposed elimination of the allowance off posted prices and gravity differential, and definitions of the proposed Uniform Petroleum Law.

Delegations in attendance: Abu Dhabi, Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics included the continued development of Uniform Principles for Petroleum Legislation (in member countries), whether these should be embodied in a code or guiding principles, and whether they should be binding on all member countries, since contexts varied in each one. Discussion also ensued about the possible devaluation of the U.S. dollar and its potential impact on crude prices, the possibility of posting a senior OPEC officer to Brussels to be a liaison with the EEC,

Delegations in attendance: Abu Dhabi, Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics included the proposal of a conservation regulation, the summary of the Economic Commission report concerning the implementation of a Joint Production Program, the relationship between OPEC and national oil companies, participation of governments of member states in concession-holding companies, the 1969 budget, and the nomination of Hassan Kamel of Qatar to be the next Secretary General. Also included texts of speeches by President Ahmed Hassan al-Bakr of Iraq, OPEC President Abdul Rahman al Ateeqy of Kuwait, and Secretary General Francisco Parra of Venezuela.

Delegations in attenadnce: Abu Dhabi, Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics include welcoming Algeria to full membership in OPEC,the impact of the proposed devaluation of the U.S. dollar on oil prices, policies regarding the posting of oil prices, the role of national oil companies in relation to OPEC, contacts with the EEC, and the role of English as the language used in OPEC meetings (which Algeria disputed).

Also includes text of opening speech by Rashid al-Rifai, of Iraq, president of OPEC, and Sid al-Ghozali, head of the Algerian delegation.

Delegations in attendance: Abu Dhabi, Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Venezuela. Topics included pricing, the production program, relinquishment, an Algerian plan to revise fiscal regime of agreements (with French oil companies operating in Algeria), the role of meetings of national oil companies in contrast to general OPEC meetings, and the proposed construction of permanent headquarters for OPEC in Vienna.

Also included text of speeches by Sheikh Ahmed bin Ali Al-Thani, ruler of Qatar; Nadim Pachachi, of Abu Dhabi, president of the 18th conference of OPEC; and Elrich Sanger, Secretary General.