Organization of Arab Petroleum Exporting Countries


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Related to Organization of Arab Petroleum Exporting Countries: North Atlantic Treaty Organization, Organization of the Islamic Conference

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 ?
PARTICIPATES IN 10TH ARAB ENERGY CONFERENCE Dr Mirza also attended and spoke at the 10th Arab Energy Conference, held on December 21 in the UAE in the presence of a large number of Energy Ministers and the Organization of Arab Petroleum Exporting Countries (OAPEC) and other member from Arab countries.
Composed of the official bilateral and multilateral relations between Arab states, as well as non-governmental agencies and popular organizations across Arab states, the Arab cooperative core's most important formal organizations were the League of Arab States, established in 1945, and the Organization of Arab Petroleum Exporting Countries, formed in 1968.3 They were complemented by the existence of councils of Arab ambassadors in every major foreign capital, as well as by Arab caucuses in the United Nations and other international agencies.
Secretary-General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Abbas Al-Naqi addressed the event by saying that member states own roughly 705 billion barrels of oil, which make up 47.9 percent of the world's oil reserves.
Exchange of expertise in the oil industry will also feature high on the agenda of the meeting, in addition to coordination with spinoff companies of the Organization of Arab Petroleum Exporting Countries (OAPEC).
The market shifted from contango to backwardation, because people are expecting a shortage," Ali Al Naimi told reporters on the sidelines of an Organization of Arab Petroleum Exporting Countries (OAPEC) meeting in Doha.
Organised by the Arab Petroleum Investments Corporation (APICORP), the Multilateral Development Bank owned by the ten member nations of the Organization of Arab Petroleum Exporting Countries (OAPEC), the Symposium discussed market trends and challenges faced by the industry against the background of ongoing political turmoil in parts of the region; the expanding global map of oil and gas resources; and the vulnerabilities created by the rapid growth of domestic energy markets.
Arab Petroleum Investments Corporation (APICORP), which is the multilateral development bank owned by the 10-member nations of the Organization of Arab Petroleum Exporting Countries (OAPEC), has signed a documentary credit insurance policy (DCIP) with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) that is a member of the Islamic Development Bank (IDB) Group.
The opening session will feature speeches by the Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa, the Secretary General of the Organization of Arab Petroleum Exporting Countries "OAPEC" Abbas Ali Al-Naqi, Senior Engineers at Aramco and Chairman of the Conference Eng.
Apicorp is a multilateral development bank owned by the ten member states of the Organization of Arab Petroleum Exporting Countries (OAPEC).
The development bank - owned by the 10 member states of the Organization of Arab Petroleum Exporting Countries (OAPEC), with Saudi Arabia and the United Arab Emirates each holding 17 percent stakes - did not say what it would sell.
The Al Khobar-based Apicorp is a multilateral bank owned by the 10 member states of the Organization of Arab Petroleum Exporting Countries. Saudi Arabia owns a 17% stake in the bank.
Separately, His Highness hosted Al-Hajraf, accompanied by oil and energy ministers of member states of the Organization of Arab Petroleum Exporting Countries (OAPEC), participating in OAPEC's 10th meeting, hosted by Kuwait.
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