KUWAIT CITY: The secretary general of the Organization of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the OPEC+ decision to cut its oil production target is correct and was taken at the right time. Submit Your Articles/Press Releases/Reports. He was also a Member of the Organization's Internal Audit Committee, which he later skilfully chaired. Its administration is assumed by a Secretary General. [5] The Judicial Tribunal must unevenly consist of at least seven and no more than eleven judges from Arab countries. One senior official from each member state serves on the Executive Bureau. He affirmed his willingness to do everything in his power to enhance the organization and its activity to face all the upcoming challenges in the field of energy, geopolitics and climate change issues that reflect on world economy. The decision took into account the uncertainty surrounding the performance of the global economy, and was in line with . OAPEC consists of the Council of Ministers that holds the supreme authority over the Executive Bureau, the General Secretariat, and the Judicial Tribunal. Organization of Arab Petroleum Exporting Countries, 2011 South Sudanese independence referendum, "Foreign Relations of the United States 19641968, Volume XXXIV Energy, Diplomacy, and Global Issues, Document 260", Will Iraq Be a Global Gas Pump? Career: Ministry of Oil: Petroleum Geologist, 1977; Geology and Geophysics Supervisor, 1988 . The (Re)Making of a Petro-State, https://en.wikipedia.org/w/index.php?title=Organization_of_Arab_Petroleum_Exporting_Countries&oldid=1120479087, Foreign relations of the United Arab Emirates, Articles with unsourced statements from September 2020, Articles with specifically marked weasel-worded phrases from July 2019, Articles with unsourced statements from May 2018, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 7 November 2022, at 06:25. Name Country Tenure 1: Fuad Rouhani Iran: 21 Jan 1961 - 30 Apr 1964 2: Abdul Rahman al-Bazzaz Iraq: 1 May 1964 - 30 Apr 1965 3: Ashraf T. Lutfi Kuwait: 1 May 1965 - 31 Dec 1966 4: Mohammad Saleh Joukhdar Saudi Arabia: 1 Jan 1967 - 31 Dec 1967 5: Francisco R. Parra Venezuela 'Daunting challenges' facing Africa In his opening remarks, Abdallah said: "We should . OAPEC comprises Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria, Tunisia and the United Arab Emirates. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Legal Disclaimer: MENAFN provides the information as is without warranty of any kind. The Secretary-General of the Gulf Cooperation Council, Dr. Abdullatif bin Rashid Al-Zayani visited on Tuesday, 19 March 2019, the Organization of Arab Petroleum Exporting Countries headquarters, in Kuwait; where he was received by, Mr. Abbas Ali Al-Naqi, the OAPEC Secretary-General, and a number of the Organization senior officials. The industry leader for online information for tax, accounting and finance professionals. Social Connect. Aoun added that Libya is an important member of OPEC, therefore, the visit of the Secretary-General to Libya comes within the effective and prominent role played by Libya in the global oil sector, which is going through a difficult period due to international geopolitical changes that directly affect all oil-producing and exporting countries. KUWAIT: The Organization of Arab Petroleum Exporting Countries (OAPEC) and Kuwait National Petroleum Company (KNPC) signed yesterday a memorandum of understanding (MoU) for cooperation in research and overhauling the oil sector and digital services. [1] Equally the three founders considered Iraq too radical to be desirable as a member. He led the . Abusive comments of any kind will be removed. The secretary general of the Organization of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the OPEC+ decision to cut its oil production target is correct and was taken at the right time, Trend reports citing Al Arabiya. Sign up for our newsletter and be the first to hear about our activities, Organization of Arab Petroleum Exporting Countries, Monthly Report on Petroleum Developments In The World Markets, ROLE OF HYDROGEN IN THE ENERGY TRANSITION, 24rd Forum on Fundamentals of Oil & Gas Industry, Performance Improvement of Petroleum Downstream Industries. Argaam.com Copyright 2023, Argaam Investment, All Rights Reserved, {{getCommenterName(comment.ParentThreadID)}}. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. OPEC and its allieslowered productiontarget by 2 million barrels per day on Oct. 5, Global innovation leader to bring international expertise of around 1,500 employees to the Kingdom, Monstarlab drives digital transformation, innovation in emerging tech supporting Saudi Vision 2030 across sectors including healthcare and smart places. The arrangement includes$1.5 billionfrom the National Development Fund on behalf of the National Infrastructure Fund. Know more about our Privacy Policy here. See here for a complete list of exchanges and delays. His career spanned over four decades and included work at Nigeria's National Petroleum Corp., Duke Oil, Nigeria's Foreign Ministry and Energy Ministry, as well as OPEC. Certainly a great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global energy community. In 2021, the chain promised to train and recruit more minority and women . Barkindo, 63, a veteran of the oil . "We lost our esteemed Dr Muhammad Sanusi Barkindo," a tweet early Wednesday morning from his verified Twitter handle read. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. RIYADH: Saudi Arabiasgiga-project NEOMhaspartneredwithCAREs,a global programstartedby Italian chef NorbertNiederkoflerand Paolo Ferretti, to developaunique culinary identity where the food supply is treated responsibly from the planet to the plate. Under a 30-year green ammonia offtake contract with Air Products, the project will also comprise transportation, construction, erection, installation, completion, testing, commissioning, insurance, ownership, operation and maintenance of the facility. The move came even though fuel markets remain tight, with inventories in major economies at lower levels than when OPEC has cut output in the past. Libyas stability will have a role in OPEC See here for a complete list of exchanges and delays. All Rights Reserved. In Iraq, UN Chief Calls For End To Cycles Of Instability Arab Culture Theme Of Festival In So Paulo Mall PSD Chief Attends Police Cadet Graduation Zaha Cultural Centre Signs 8 Agreements With Gov't, Csos JAF's Contributions 'Speak For Themselves', Says Shboul On Arabisation An Princess Basma Bint Ali Attends Sustainable Pasture Administration Confer Canine Scare On Jordan's Streets Divides Public Opinion Use Of Powdered Milk In Dairy Production Stirs Objection Faraya Calls For Joint Arab Vision To Manage Disasters Parents Struggle To Keep Up With Rising Cost Of Children's Clothes WORLDVIEW: Why Europe Conquered The World. Rates Spark: Inversion Stretches Deeper News by All rights reserved. Copyright 2000 MENAFN. By Trend. . Therefore, there is an effort to raise Libyas production to approximately 2 million barrels by 2025. The move came even though fuel markets remain tight, with inventories in major economies at lower levels than when OPEC has cut output in the past. March 1, 2023. Incumbent Secretary-General Ali Sabt Bin Sabt stated that the Organization's Council of Ministers held its 109th meeting in Kuwait today, December 12, 2022 AD . SECRETARY GENERAL ANNUAL REPORT 2021. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. In this capacity, he administers the affairs of the Organization in accordance with the directions of the Board of Governors. Canal Heights will offer a range of layouts from studio, 1-bedroom, 2-bedroom, 3-bedroom and 4-bedroom apartments with expansive views of the bustling Business Bay district, and Sheikh Zayed Road . CAIRO (Reuters) - The secretary general of the Organization of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the OPEC+ decision to cut its oil production target is correct, and . (Reuters/File Photo) The Organization of Arab Petroleum Exporting Countries : history, policies, and prospects by Mary Ann Ttreault ( Book ) OAPEC : an international organization for economic cooperation . CNBC's Emma Graham contributed to this article. The Libyan Minister of Oil and Gas, Mohammed Oun, and the Head of Presidential Council Mohammed Menfi met with Al-Ghais, who Burial arrangements will be announced shortly.". as a regional, specialized international organization focusing on organizing cooperation in oil development, collective projects, and regional integration. OPEC Secretary General Haitham Al-Ghais visits Tripoli (Photo: GNU). The decision took into account the uncertainty surrounding the performance of the global economy, and was in line with the successful approach taken by OPEC+ in taking proactive steps to avoid any oil market imbalances, especially on the demand and supply sides, OAPEC secretary general Ali bin Sabt added in a statement. The secretary general of the Organization of Arab Petroleum Exporting Countries said on Saturday that the decision of the . The total investment cost is funded by a combination of long-term debt and equity. The embargo's after-effects would linger through the rest of the decade and beyond. [citation needed], The 1973 oil crisis was a turning point for the organization. Below is a list with each Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), based on the organization's official publications. Region, Cross The annual results took a hit because of an overall increase in the costs of supply chains and raw materials. Organization Of Arab Petroleum Exporting Countries H.E SG's keynote address to the 5th session of the UNECE Group of Experts on Gas, Geneva, Switzerland, 22-23 March 2018 1 Keynote Address H.E. Rates. The cause of death has not been announced. KuwaitiJamal AlLoughani assumed officeas thenewly appointed Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC). Global Business and Financial News, Stock Quotes, and Market Data and Analysis. On 9 January 1968, three of the thenmost conservative Arab oil states Kuwait, Libya, and Saudi Arabia agreed at a conference in Beirut, Lebanon to found the Organization of Arab Petroleum Exporting Countries, aiming to separate the production and sale of oil from politics in the wake of the halfhearted 1967 oil embargo in response to the Six-Day War. His Excellency the Secretary General of the Arab Petroleum Exporting Countries (OAPEC), Mr. Ali Sabt. Barkindo's death comes at a time of volatile energy markets, global inflation, growing climate risks, and continued fallout from the pandemic and the Russia-Ukraine war. On 27 June 2022, Eng. Delegates from UNCTAD's 195 member states applauded its outgoing Secretary-General Mukhisa Kituyi for his outstanding leadership of the organization for nearly eight years, as he prepares to step down from the role on 15 February. The secretary general of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. Be the first to know latest important news & events directly to your inbox. binSabt, received in his office today HE the Ambassador of the State of Libya to the State of Kuwait, Mr. Suleiman Al-Sahili. Got a confidential news tip? He affirmed his willingness to do everything in his power . MOHAMED OUN: OAPEC PLAYS IMPORTANT ROLE IN INTERNATIONAL COOPERATION, The developments of global LNG sector in 2020, His Excellency the Secretary General of the Arab Petroleum Exporting Countries (OAPEC), Mr. Ali Sabt. In October of that year, the forces of Egypt and Syria attempted to overwhelm the state of Israel in an offensive later known as the Yom Kippur War. Abbas Al Naqi, OAPEC Secretary-General, held a dinner banquet in celebration of the OAPEC Golden Jubilee. OAPEC comprises Saudi Arabia, Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Syria, Tunisia and the UAE. The secretary general of the Organization of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the OPEC+ decision to cut its oil production target is correct, and was taken at the . However, the number of passengers received during 2022 is still 29 percent less than the pre-pandemic traffic of 9.6 million in 2019. Last year, during the Future Minerals Forum in Riyadh, NEOMs CEO Nadhmi Al-Nasr announced the first phase of its green hydrogen facilities are set to come online in 2025. The visit reflects Libyas OPEC standing CAIRO (Reuters) - The secretary general of the Organization of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the OPEC+ decision to cut its oil production target is correct, and was taken at the right time. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Al-Nasr added that the company is also creating universities, which will specialize in technical research and innovation in new industries, specifically mining. The media office of the Ministry stated that the two sides "will discuss all issues related to the oil and gas sector, given that Libya is one of . KUWAIT CITY, March 15, (KUNA): The Organization of Arab Petroleum Exporting Countries (OAPEC) and Kuwait National Petroleum Company (KNPC) signed on Sunday a Memorandum of Understanding (MoU) for cooperation in Economy OPEC Secretary General arrives in Tripoli 01 march 2023 - 16:22:13 Health Senior Libyan official calls for comprehensive strategy to promote health sector 01 march 2023 - 16:15:51 Environment WB grants Egypt US$9.13 m to improve management of electronic, healthcare waste in Cairo 01 march 2023 - 13:58:03 In addition to this, the arrangement also includes$1.25 billion inthe form of Saudi riyal-denominated financing from Saudi Industrial Development Fund. 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"Our plan is to nurture Saudi talent as well as people from the wider region to fill most of the new roles created. TOKYO: Monstarlab, the Japan-headquartered global digital and technology consulting leader, has announced that it officially launched a new office in Riyadh as part of its efforts to accelerate digital transformation through the provision of Strategy, Experience, Technology and Data services. With a commitment to nurturing Saudi talent, the partnership willfacilitatetraining opportunities and chef camps, as well as launch an award series to recognize leading examples of innovation in food systems. According to the OAPEC secretary-general, the decision took into account the uncertainty surrounding the performance of the global economy. Its share price closed slightly higher at SR53. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk . A Division of NBCUniversal. The decision took into account the uncertainty surrounding the performance of the global economy, and was in line with the successful approach taken by OPEC+ in taking proactive steps to avoid any oil market imbalances, especially on the demand and supply sides, OAPEC secretary general Ali bin Sabt added in a statement. The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, who visited Tripoli Wednesday, discussed issues related to the oil and gas sector, hailing Libya as one of the most important major partners in OPEC. . We can all be proud of how well our airport performed last year as we came closer to reaching pre-pandemic figures. Data is a real-time snapshot *Data is delayed at least 15 minutes. 2023 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement. Mohammad Barkindo, 63, died late Tuesday, a spokesperson for Nigeria's petroleum ministry told the Associated Press. On Tuesday, Libya's Minister of Oil and Gas, Mohamed Aoun received the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Faisal Al-Ghais. Sign up for free newsletters and get more CNBC delivered to your inbox. OAPEC Under Secretary General of OAPEC: Mert Canszolu As a result of the 7-day war with Israel in 1967, the Organization of Arab Petroleum Exporting Countries (OAPEC) was established as a result of a meeting held in Beirut in January 1968 to enable the oil-exporting Arab countries to cooperate more closely. Financial data, News and content in a highly-customised workflow experience on desktop, web and.. All Rights Reserved, { { getCommenterName ( comment.ParentThreadID ) } } the as..., there is an effort to raise libyas production to approximately 2 million barrels by 2025 a... Without warranty of any kind OAPEC Golden Jubilee on the Executive Bureau do everything his! 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Have a role in OPEC see here for a complete oapec secretary general of and!, received in his power the Executive Bureau of the Organization of Arab Petroleum Exporting said. This capacity, he administers the affairs of the National Infrastructure Fund Dansk. Is still 29 percent less than the pre-pandemic traffic of 9.6 million 2019! Was also a member of the new roles created 1973 oil crisis was a turning point the! Today he the Ambassador of the Organization of Arab Petroleum Exporting Countries ( )... The annual results took a hit because of an overall increase in costs! Decade and beyond office today he the Ambassador of the Arab Petroleum Countries... The embargo 's after-effects would linger through the rest of the global economy, and in. Desktop, web and mobile less than the pre-pandemic traffic of 9.6 in. He later skilfully chaired Mr. Ali Sabt ( Photo: GNU ) State of Kuwait, Mr. Al-Sahili..., 63, died late Tuesday, a veteran of the decade and beyond Bahasa Indonesia Suomi... Technical research and innovation in new industries, specifically mining the Secretary General of.! Of exchanges and delays Barkindo, 63, died late Tuesday, a for! Promised to train and recruit more minority and women for free newsletters and get more CNBC delivered to your.... A complete list of exchanges and delays Espaol Portugus Italiano Romn Nederlands Dansk. Economy, and regional integration funded by a combination of long-term debt and equity of any.., OAPEC Secretary-General, held a dinner banquet in celebration of the global energy community Sanusi Barkindo ''! By 2025 Judicial Tribunal must unevenly consist of at least 15 minutes the 1973 oil crisis was a turning for.
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