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Related to OAPEC: OPEC
OAPECOrganization of Arab Petroleum Exporting Countries
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The council adopted the draft budget of the organisation's secretariat and judicial tribunal for 2019, the reappointment of Al Bassam & Partners as the auditor of the organisation's secretariat and judicial tribunal for 2019, and reviewed the report of OAPEC's general secretariat on the global petroleum situation.
He said that OAPEC meetings contribute to achieving positive results that serve the oil and gas sector in the member states, and attain the goals of OAPEC which was established in 1968 to enhance exchange of information and expertise and pave the way for launching joint oil and gas projects.
OAPEC was left out of deciding on issues of price and the level of production as this function was - and continues to be - left to Opec.
The meeting agenda includes discussions about OAPEC's projected budget for 2015, choosing a theme for the scientific research to be granted the 2015 award and preparations for the 10th Arab Energy Conference, due to take place in Abu Dhabi from December 21 to 23.
In return, the OAPEC official expressed the organization's readiness to cooperate with Yemen in all events organized by it.
The minister praised the efforts of Noga's general directorate for Oapec affairs, planning and strategies.
APICORP is wholly owned by the governments of the ten member states of OAPEC, namely: the United Arab Emirates (17 per cent), Bahrain (3 per cent), Algeria (5 per cent), Saudi Arabia (17 per cent), Syria (3 per cent), Iraq (10 per cent), Qatar (10 per cent), Kuwait (17 per cent), Libya (15 per cent), and Egypt (3 per cent).
APICORP is a multilateral development bank established in 1975 by the Organisation of Arab Petroleum Exporting Countries, OAPEC, with a mandate to contribute to the development and the transformation of the Arab hydrocarbon and energy industries through equity and debt financing, advisory and research.
Arab oil ministers are in Cairo for a meeting of the Organization of Arab Petroleum Exporting Countries, or OAPEC, set for Saturday.
The country will resume normal oil production by the middle of next year, Nuri Berruien told reporters in Cairo yesterday, where he is attending a meeting of the Organisation of Arab Petroleum Exporting Countries, or OAPEC.
The figures by the 10-nation Organization of Arab Petroleum Exporting Countries (OAPEC) showed real income was far below the Arab revenue in current prices over the past two decades, taking into consideration global inflation and the weakening purchasing power of the US dollar, the official price of oil sales.