Map of honduras for 36 percent, Saudi Arabia 29.58 percent, and UAE 8.09 percent. OPEC was formed at a meeting held September 14, 1960, in Baghdad, Iraq. The founding members were Kuwait, Iran, Iraq, Saudi Arabia and Venezuela. These countries were coordinating their responses to the actions of the major multinational oil companies known as the Seven Sisters. The Seven Sisters were British Petroleum, Chevron, Exxon, Gulf, Mobil, Royal Dutch Shell, and Texaco. Map of honduras 2016.