oapec secretary general
The secretary-general of OAPEC, Dr. Ali Ahmed Attiga of Libya, recently described the Organization's raison d'etre1: The principal object of the Organization is the cooperation of the members in various forms of economic activity in the petroleum industry, the realization of the CAIRO Oct 15 (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. contents - OAPEC. 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. The days highlight was the healthy resurgence of the banking and insurance sectors, which grew over 2 percent to 10,542.78 points and 5,973.98 points. The decision took into account the uncertainty surrounding the performance of the global economy, and was in line with . NEOM is doing this to attract the best students in the world to come and be prepared for the research and innovation for the future of mining, Al-Nasr explained. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. While the organization lost two members, Qatar and Ecuador, during that time,Barkindo is nonetheless credited with guiding unity among the group's members in an effort to stabilize global oil markets. 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. Apart from Nigeria, Libya is the only African country to have held the post of secretary-general during the last 30 years. Karen Clayton has been appointed as the new Corporate Secretary of the International Air Transport Association (IATA). By signing up, I agree to our TOS and Privacy Policy. World and Middle East business and financial news, Stocks, Currencies, Market Data, Research, Weather and other data. In addition to the OPEC Secretary General, speakers at the inaugural OPEC-Africa Energy Dialogue were Rashid Ali Abdallah, Executive Director of AFREC; Dr Omar Farouk Ibrahim, Secretary General of APPO; and Anibor Kragha, Executive Secretary of ARDA. 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. 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+ . The banking sector surge was led by Arab National Bank, which shot up 8.6 percent to SR25. His Excellency the Secretary General of the Arab Petroleum Exporting Countries (OAPEC), Mr. Ali Sabt. 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 . By Trend. Mohammad Barkindo, a Nigerian politician and secretary-general of oil producer group OPEC, died at the age of 63, just days before he was set to finish his term at the organization. The secretary general is OPEC's public face to international bodies and is responsible for convening meetings, including extraordinary sessions as market conditions warrant. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk . OAPEC consists of the Council of Ministers that holds the supreme authority over the Executive Bureau, the General Secretariat, and the Judicial Tribunal. He affirmed his willingness to do everything in his power . 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. Therefore, there is an effort to raise Libyas production to approximately 2 million barrels by 2025. In the fourth quarter of 2022, the company registered a net loss of SR16 million against a net profit of SR79.86 million in the year-ago period. The embargo would last for some five months before it was lifted in March 1974 after negotiations at the Washington Oil Summit. WataniIron Steel Co. also announced a 5 percent increase in the net profit to SR49.6 million for 2022 to SR47.1 million a year earlier. Secretary General's annual report by Organization of Arab Petroleum Exporting Countries . as a regional, specialized international organization focusing on organizing cooperation in oil development, collective projects, and regional integration. The Council of Ministers is formed by each member state's minister of petroleum and they work together to construct general policy and ensure the organization's goals and actions are being achieved and implemented. He was also a Member of the Organization's Internal Audit Committee, which he later skilfully chaired. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. Monstarlab aims to impact growth of emerging sectors such as smart places and healthcare tech in the Kingdom of Saudi Arabia and is already working with a range of private and public sector organisations in the country including high-level projects with NEOM and the Public Investment Fund. Bahrain Airport Co.s Airport Facilitation Committee on Wednesday disclosed these numbers at a meeting to review the operational aspects of the facility, which checked passengers, crew, and baggage movement at the BIA. 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. A number of the member nations would use this sense of control to renegotiate the contracts they had made with the companies that had discovered and exploited their resources. According to the OAPEC secretary-general, the decision took into account the uncertainty surrounding the performance of the global economy. Read more; Welcoming remarks by Iraq's Minister of Oil Al-Menfi indicated that Libya has expertise that had assumed the leadership of the OPEC organization and human resource cadres working in it. But the Therapeutic Goods Administration (TGA) has recalled products containing it, as pholcodine can trigger . Rates. 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. Got a confidential news tip? The secretary general of the Organization of Arab Petroleum Exporting Countries said on Saturday that the decision of the . Brief remarks by OPEC Secretary General. Through this partnership,CAREshas an opportunity to not only create a foundation for a more ethical and sustainable approach to gastronomy in the Kingdom but also to help nurture Saudi talent to drive innovation in food,saidNiederkofler. Opinions expressed in the comments section do not reflect the views of Argaam. The General Secretariat consists of the Secretary General's Office, as well as four departments: Finance and Administrative Affairs; Information and Library; Economics; and Technical Affairs. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Be the first to know latest important news & events directly to your inbox. Shafaq News/ The Organization of Arab Petroleum Exporting Countries (OAPEC) elected Iraq's oil minister, Hayyan Abdul-Ghani, as a secretary-general during its 109th meeting on Monday. OAPEC's primary objective is safeguarding the cooperation of numerous members in various aspects of economic activity within the oil industry as well as maintaining strong relations among themselves; to provide legitimate means to preserve the members' individual and collective efforts within the industry; unite on-going efforts for the procurement of oil; provide access to consumer markets on fair and reasonable terms; and provide conditions, adequate capital, and experience of investors in the oil industry. Atlantic Council CEO Frederick Kempe had previously described Barkindo as having "unparalleled expertise on oil markets, security, and governance" and "a deep understanding of geopolitics in a volatile world. 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 . We can all be proud of how well our airport performed last year as we came closer to reaching pre-pandemic figures. Links. KUWAIT, Dec 22 (KUNA) -- The Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) announced in its 103rd meeting held in Kuwait Sunday appointing the Kuwaiti candidate Ali Bin Sabt as the new Secretary General of the organization. [1] Equally the three founders considered Iraq too radical to be desirable as a member. Twitter Youtube Instagram RSS The annual results took a hit because of an overall increase in the costs of supply chains and raw materials. . He said Libya and its stability will have a role in achieving the strategies of OPEC and countries outside the organization, which represent half of the global production, to contribute to the . [2] However, by early 1972, the criterion for admission had changed to oil being a significant source of revenue (rather than the principal source) of a prospective member nation; and Algeria, Iraq, Syria and Egypt had been admitted. binSabt, received in his office today HE the Ambassador of the State of Libya to the State of Kuwait, Mr. Suleiman Al-Sahili. Mohammad Barkindo, a Nigerian politician and secretary-general of oil producer group OPEC, died at the age of 63, just days before he was set to finish his term at the organization. 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. OAPEC secretary general Ali bin Sabt added in a statement. All quotes delayed a minimum of 15 minutes. The committee discussed various topics, including the airports annual performance figures, which saw aircraft traffic movements surge to 82,000 in 2022 from 51,000 in 2021, a 60 percent surge. Box: 253 Manama / Kigdom of Bahrain. KuwaitiJamal AlLoughani assumed officeas thenewly appointed Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC). According to the OAPEC secretary-general, the decision took into account the uncertainty surrounding the performance of the global economy. Current Position: Secretary General, Organization of Arab Petroleum Exporting Countries (OAPEC), since March 1, 2020. Know more about our Privacy Policy here. He emphasised the role of the organization in maintaining support for Libya in excluding it from the cuts that the organization proposes to member states from time to time to control oil prices to keep them within internationally acceptable prices. Argaam.com Copyright 2023, Argaam Investment, All Rights Reserved, {{getCommenterName(comment.ParentThreadID)}}. SECRETARY GENERAL ANNUAL REPORT 2021. In his welcoming speech to the Secretary-General of OPEC, Al-Menfi stressed the organizations economic and political role that brings together the policies and interests of its member, referring to the great interest the Libyan state attaches to the oil and gas sector and works to support it as its main source of income. RIYADH:Bahrain International Airport welcomed 6.9 million passengers in 2022, marking an increase of 125 percent from 3 million in 2021, the Bahrain News Agency reported. The Organization of Arab Petroleum Exporting Countries (OAPEC) is a multi-governmental organization headquartered in Kuwait which coordinates energy policies among oil-producing Arab nations. Kuwait's Al-Loughani assumes office of new OAPEC Secretary General https://kuna.net.kw/ArticleDetails.aspx?id=3082929 #KUNA #KUWAIT . The Economics Department and the Technical Affairs Department form the Arab Center for Energy Studies that was established in 1983. The tribunal's judgments are final and binding, and will be enforceable within the territories of residing members. 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. This organizational exclusivity was bolstered by an additional rule in the organization's charter requiring the three founders' approval of all new members. OAPEC resolved to cut oil production by 5% monthly "until the Israeli forces are completely evacuated from all the Arab territories occupied in the June 1967 war". 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. 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 Conference appoints the Secretary General for a period of three years, which may be renewed . Geopolitical conflicts and sanctions have led to much tighter oil supplies, pushing prices tomultiyear highs amid fears of a global recession. In apressstatement, AlLoughani expressed his appreciation for the Council of Ministers of the organization on granting him their trust. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Barkindo, 63, a veteran of the oil . Get this delivered to your inbox, and more info about our products and services. Working to raise production Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. In a statement following the meeting, Bahraini Minister of Oil Sheikh Mohammad Al . 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. The Organization of Arab Petroleum Exporting Countries : history, policies, and prospects by Mary Ann Ttreault ( Book ) OAPEC : an international organization for economic cooperation . The 13-member Organization of the Petroleum Exporting Countries (OPEC) and its allies, which include Russia, lowered their production target by 2 million barrels per day when they met on Oct. 5. 19/01/2021 Corrosion in Oil Refining and Petrochemical Industry. Reach thousands of our site visitors daily. OAPEC official says OPEC+ decision to cut oil production correct. 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. Four bankers will stand trial in Zurich next week accused of helping a man known as "Vladimir Putin's wallet" deposit millions of Swiss francs in Switzerland. Barkindo's unexpected death came as a shock to members of the oil and gas world, many of whom describe him as a giant in the industry. Barkindo had just been awarded a distinguished fellowship at the Atlantic Council, set to begin upon the completion of his term at OPEC on July 31. The consortium of financiers from which the balance came from entails First Abu Dhabi Bank, HSBC, Standard Chartered Bank, Mitsubishi UFJ Financial Group, BNP Paribas, Abu Dhabi Commercial Bank, among several others. General https: //kuna.net.kw/ArticleDetails.aspx? id=3082929 # KUNA # Kuwait effort to raise Libyas production to approximately 2 million by! Nigeria, Libya is the only African country to have held the post of during! By 2025 for a period of three years, which may be renewed financial news, Stock,... And binding, and more info about our products and services was also a Member https: //kuna.net.kw/ArticleDetails.aspx id=3082929! More info about our products and services an overall increase in the comments do... Sector surge was led by Arab National Bank, which may be renewed english Deutsch Franais Portugus. 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