Organization of Arab Petroleum Exporting Countries

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Organization of Arab Petroleum Exporting Countries

An international organization founded in 1968 to coordinate oil policy among Arab countries. Originally intended for conservative countries like Kuwait and Saudi Arabia, it initially excluded left-wing Arab governments from membership. It is not a cartel like OPEC (which has global membership), but it aims for economic cooperation and regional integration.
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The Secretary-General of the OAPEC, Abbas Ali Al-Naqi, presented the draft agenda for the meeting, which included a number of topics, where the secretariat will inspect the activities and work conducted during 2018, as well as the draft budget of the organisation for 2019.
The 101st OAPEC's Council of Ministers discussed the organisation's draft 2019 budget, in addition to the Secretariat-General's activities in 2018, including the studies it has conducted and the events in which it has participated.
The Ministerial Council of OAPEC "decided to entrust Iraq with the administration and sponsoring of the Institute for a renewable period of two years commencing January 1995".
He added that the future goals of the OAPEC countries on the use of renewable power in the energy mix is to meet the increasing demand for electricity, noting that the study that was prepared by the organization aims to assess the current situation of the power mix in the member countries and to explore its main features as well as exploring diversification prospects in the energy mix in these countries, according to the perspective of the resources available of the stated objectives.
The other OAPEC member states holding stakes in APICORP beside Libya are: the United Arab Emirates (17%), Bahrain (3%), Algeria (5%), Saudi Arabia (17%), Syria (3%), Iraq (10%), Qatar (10%), Kuwait (17%), and Egypt (3%).
OAPEC was established in 1968 .The group will decide on its 2012 budget at the meeting in Cairo, without saying what else ministers will discuss.
While the nominal price of OPEC's basket of crudes stood at around $ 77.4 a barrel in 2010, its real value averaged about $ 60.4 in 1995 prices, the Kuwaiti-based OAPEC said in its 425-page report for 2010.
"Iraq is currently giving priority to investment in the infrastructure sector," Leiebi was quoted by Reuters as saying on the sidelines of the 85th Organization of Arab Petroleum Exporting Countries (OAPEC) ministers meeting in Cairo, which was attended by ministers of oil and petroleum of Saudi Arabia, Qatar, Kuwait, Libya, Algeria, the United Arab Emirates (UAE), Syria and Bahrain as well as Egypt.
It is strange to see the annual conference of OAPEC (Organization of Arab Petroleum Exporting Countries) convene in Cairo on 25 December, or Christmas, which has become an international holiday and not just one for Christians.
Population growth will exacerbate the water shortage in the Arab world, necessitating further investment in desalination and water treatment capacity, a report by the Arab Petroleum Exporting Countries (OAPEC) shows.
APICORP is owned by the 10 member states of the Organization of Arab Petroleum Exporting Countries (OAPEC), while AMPTC provides maritime transport services for OAPEC and its members.
The event is organised by the Organisation of Arab Petroleum Exporting Countries (OAPEC) and Noga, with the co-operation of Bapco.