Organization of Arab Petroleum Exporting Countries

(redirected from OAPEC)
Also found in: Dictionary, Acronyms, Wikipedia.
Related to OAPEC: OPEC

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.
References in periodicals archive ?
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".
While the OAPEC members are less and less important (it's worth bearing in mind that OAPEC production today accounts for about 30% of world production, against approximately 70% in the late 1970s), non-OPEC players are increasingly influential in the market.
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.
Abbas Ali Al-Naqi Secretary General of OAPEC and Mr.
While during his meeting with the OAPEC Secretary General, al-Mekhlafi talked about the importance of propping up Yemen by the organization to attend activities and conferences organized by the OAPEC, which will contribute to the promotion of investment opportunities in the field of oil and gas in Yemen.
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).
Abbas Ali Al-Naqi, the secretary general of OAPEC, said that the organisation was currently reviewing plans for joint Arab development projects in petroleum and that several companies affiliated with OAPEC are considering investment in such projects.
OAPEC doesn't set policy for its members, but the meeting brings together seven members of OPEC-- Algeria, Iraq, Kuwait, Libya, Qatar, Saudi Arabia and the United Arab Emirates.
OAPEC was founded in Beirut on 1 January 1968 by Kuwait, Libya and Saudi Arabia.
The chairman of the state-run National Oil Corporation, Nuri Berruien told the press during a meeting in Cairo of the Organisation of Arab Petrol Exporting Countries, OAPEC, that Libya will resume normal oil production by the middle of next year.
Established in 1973 by the OAPEC, AMPTC provides shipping services for hydrocarbon derivatives, primarily for the benefit of OAPEC member states.