So, in addition to increasing pressure to remove their currency "pegs" to the dollar, OAPEC
and other oil exporters are coming under pressure from many in the oil industry, as well as in their own countries, also to change the way that their crude oil exports are priced.
Although the mistake is not hers, the secretary general of OAPEC
needs to save-face and she is fired and leaves for Alexandria, Egypt.
The meeting was attended by director of energy policies and international relations department in the Ministry Sheikh Meshal bin Jabor al-Thani, who is also the current chairman of the executive bureau of OAPEC
According to Kuwait News Agency, or Kuna, the meeting will group representatives of the bureau member states and will be chaired by Hassan Al Rafeei of Iraq, the head of the Ministerial Council and the Executive Office, according to an OAPEC
statement released on Thursday.
In return, the OAPEC
official expressed the organization's readiness to cooperate with Yemen in all events organized by it.
Two weeks ago, the country's oil minister, Rahman Ben Yezza said in Vienna where he was attending a meeting of the Organisation of Petrol Experting Countries, OPEC, that Libya, which is a member of both OPEC and OAPEC
, was making efforts to raise its production to two million barrels a day in three-to-five years' time.
The study mentioned that the total percentage of subsidies for oil, gas, natural coal, and electricity products before taxation and based on GDP outcome for OAPEC
members in 2011 has reached 8.
Cairo, Rabi'II 9, 1435, Feb 9, 2014, SPA -- Abbas Ali Al-Naqi, Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC
), announced that the proven reserves of crude oil for OAPEC
countries reached to 703 billion barrels of the crude oil in 2013 representing 55% of the global total which reached 1277.
Al-Sada highlighted the important role played by OAPEC
in enhancing Arab co-operation in various fields of energy to ensure the stability of global energy markets.
Along with the other members of OAPEC
, it belongs to the Organisation of Petroleum Exporting Countries, which recently kept unchanged its overall production ceiling at 30 million barrels a day (bpd).
Also, several experts from the Kingdom of Bahrain, the OAPEC
and Arab countries, USA and Canada lecture at the conference.
When Benyezza was asked in the Egyptain capital, Cairo where he was attending a meeting of the Organisation of Arab Petroleum Exporting Countires, OAPEC
, if Gulf countries promised to cut output next year when production at the North African country recovers, he said: "There is a gentlemen agreement to accommodate Libya's production.