Barkindo, 63, a veteran of the oil . He led the . The Economics Department and the Technical Affairs Department form the Arab Center for . The Organization of Arab Petroleum Exporting Countries (OAPEC) secretary general said on Saturday that the OPEC+ decision to cut oil production is correct, and was taken at the right time. Libyas exclusion from OPEC quotas The Organization of Arab Petroleum Exporting Countries (OAPEC) . 52. I look forward to contributing to the organization's work on a plethora of energy-related issues, at a time when the world's eyes are focused on both short- and long-term energy market outlooks.". The embargo's after-effects would linger through the rest of the decade and beyond. The (Re)Making of a Petro-State, https://en.wikipedia.org/w/index.php?title=Organization_of_Arab_Petroleum_Exporting_Countries&oldid=1120479087, Foreign relations of the United Arab Emirates, Articles with unsourced statements from September 2020, Articles with specifically marked weasel-worded phrases from July 2019, Articles with unsourced statements from May 2018, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 7 November 2022, at 06:25. The total investment cost is funded by a combination of long-term debt and equity. Since taking the helm as secretary-general of OPEC in 2016, Barkindo oversaw tumultuous times for the oil producer group, which witnessed volatile markets rocked by historic events includingthe Covid-19 pandemic, the creation of the OPEC+ alliance with Russia and other non-OPEC states, and Russia's invasion of Ukraine. The Secretary-General of the Organization of Petroleum Exporting Countries (OAPEC) expects a rise in global demand for oil this year 09-01-2022. . 19/01/2021 Corrosion in Oil Refining and Petrochemical Industry. 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. Below is a list with each Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), based on the organization's official publications. 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. Delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the launch of OPEC's history book tilted 'OPEC 60 years and beyond: A story of courage, cooperation and commitment,' 19 June 2022, Baghdad, Iraq. 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 . (OAPEC) was established by virtue of the agreement signed in Beirut on January 9, 1968 between Saudi Arabia, Kuwait and Libya regarding the establishment of a specialized Arab regional organization . Its net profit in the fourth quarter of 2022 fell 15 percent to SR62.5 million from SR73.4 million during the same period in 2021. 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. The discussions tackled the organization significant role in bolstering and developing joint cooperation and coordination among the member countries in oil and gas domain, as well as enriching the Arab Petroleum industry with the technical studies. CAIRO - 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. Please enter your username or email address to reset your password. 01 Mar 2023 12:48:50 as a regional, specialized international organization focusing on organizing cooperation in oil development, collective projects, and regional integration. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Organisation of Arab Petroleum Exporting Countries (OAPEC) Kuwait Secretary-General Ali Sabt Ben Sabt: 1968 11 Organise cooperation in oil development and regional integration, provide legitimate means to preserve the members' individual and collective interest within the industry and provide access to consumer markets on fair and reasonable . Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The secretary general of the Organization of Arab Petroleum Exporting Countries said on Saturday that the decision of the . Tarek El Molla, Minister of Petroleum and Mineral Resources received H.E Mr. Ali bin Sabt, OAPEC Secretary General. In this capacity, he administers the affairs of the Organization in accordance with the directions of the Board of Governors. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk . [5] The Judicial Tribunal must unevenly consist of at least seven and no more than eleven judges from Arab countries. But the Therapeutic Goods Administration (TGA) has recalled products containing it, as pholcodine can trigger . Data is a real-time snapshot *Data is delayed at least 15 minutes. Speaking to Libya Herald, Minister of Oil and Gas Mohamed Aoun said that the oil sector is very important to the Libyan economy, and everyone is working to support it and maintain the stability of its production. Mohammad Barkindo, a Nigerian oil . This post has been read 9294 times! Japan Premium Food features various high quality Japanese food items in Dubai, Yellow Fever: Fans overjoyed as Ronaldo welcomed to Al-Nassr, Grandmaster of Tenshin Ryu Hyoho shares his inspiration for the Japanese art, Riyadhs Anime Town showcases compelling Japanese pop culture, UAEs Rashid Rover completes one month in space, Only 10% of Japanese plan to ditch masks when risk factor is lowered, Singapore-based football team wins first place at UAEs Japanese Gulf Cup, The Kingdom vs Captagon: Arab News investigates war on drug in latest Deep Dive, What is a bisht? 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. The first part of this report presents an analysis of international developments relatede to the supply and consumption of oil and energy and their impact on the demand for oil for member countries, as well as the revenue from petroleum exports and its impact on the process of economic development. Aaron M. Sprecher | Bloomberg | Getty Images. OAPEC comprises Saudi Arabia, Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Syria, Tunisia and the UAE. Certainly a great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global energy community. The Economics Department and the Technical Affairs Department form the Arab Center for Energy Studies that was established in 1983. In turn, the Secretary-General of OPEC said that he was happy to visit Libya as an important country in the organization, which it joined in 1962. Its share price closed slightly higher at SR53. . Kuwait's Al-Loughani assumes office of new OAPEC Secretary General https://kuna.net.kw/ArticleDetails.aspx?id=3082929 #KUNA #KUWAIT . 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. Apart from Nigeria, Libya is the only African country to have held the post of secretary-general during the last 30 years. Oil Minister Dr Mohammad Al-Fares. OPEC, the Vienna-based . 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. 2023 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement. Under a 30-year green ammonia offtake contract with Air Products, the project will also comprise transportation, construction, erection, installation, completion, testing, commissioning, insurance, ownership, operation and maintenance of the facility. We need the same in the mining sector.. Social Connect. On Tuesday, Libya's Minister of Oil and Gas, Mohamed Aoun received the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Faisal Al-Ghais. KUWAIT: Kuwait's Oil Minister Dr Mohammad Al-Fares has held talks with Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Ali bin Sabt on current developments in the oil and gas sectors at the Arab and international levels. All quotes delayed a minimum of 15 minutes. oOil Minister receives OAPEC Secretary General. The original aim was to control the economic weapon of potential oil embargo and prevent its use caused by popular emotion. OPEC Secretary General Haitham Al-Ghais visits Tripoli (Photo: GNU). 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". 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. It also booked an increase in its share of results of equity-accounted investments and gains from investments at fair value and other income, which led to a rise in the net profit margin of 22.2 percent in 2022 from 17.8 percent in the previous year. The head of . [citation needed], In 1979, Egypt was expelled from OAPEC for signing the Camp David Accords, although it was readmitted a decade later. Mohammad Barkindo, Nigerian politician and secretary-general of oil producer group OPEC, has died at the age of 63, just days before he was set to finish his term at the organization. - KUNA. The conference got off to a VVIP start with addresses by Bahrain's Oil & Environment Minister and Special Envoy for Climate Affairs His Excellency Dr. Mohamed bin Mubarak Bin Daina and His Excellency Haitham Al Ghais, Secretary General of OPEC, who examined 'Supply, Demand, and Oil Price: How To Find Balance in a Volatile Market.' It is time for the mining industry to compete with the oil industry, he said, adding: Oil has made the big move to move to the next generation. Earlier, the secretary general of the Organisation of Arab Petroleum Exporting Countries (OAPEC) said on Saturday that the Opec+ decision to cut its oil production target is correct and was taken . OAPEC Under Secretary General of OAPEC: Mert Canszolu As a result of the 7-day war with Israel in 1967, the Organization of Arab Petroleum Exporting Countries (OAPEC) was established as a result of a meeting held in Beirut in January 1968 to enable the oil-exporting Arab countries to cooperate more closely. Al-Nasr added that the company is also creating universities, which will specialize in technical research and innovation in new industries, specifically mining. KUWAIT: KNPC CEO Walid Al-Badr (right) and OAPEC Secretary General Ali bin Sabt sign the deal. Chemanols share price dipped 1.69 percent to SR24.46. Iraq initially declined to join, preferring to work under the umbrella of the Arab League, considering OAPEC too conservative. Hiroki Inagawa, Monstarlabs Group CEO, said: We are proud to be officially launching our new office in Riyadh which forms part of our ongoing investments and commitment to KSA. 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. Region, Cross One senior official from each member state serves on the Executive Bureau. 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. TASIs total trading turnover of the benchmark index was SR4.13 billion ($1.10 billion) as 138 stocks of the listed 224 advanced and 70 retracted. Mr. Abbas A. Al-Naqi Secretary General (OAPEC) Mr. Scott Foster, Director of Sustainable Energy Division, 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][2] The Secretary General is OPEC's chief executive officer. Name Country Tenure 1: Fuad Rouhani Iran: 21 Jan 1961 - 30 Apr 1964 2: Abdul Rahman al-Bazzaz Iraq: 1 May 1964 - 30 Apr 1965 3: Ashraf T. Lutfi Kuwait: 1 May 1965 - 31 Dec 1966 4: Mohammad Saleh Joukhdar Saudi Arabia: 1 Jan 1967 - 31 Dec 1967 5: Francisco R. Parra Venezuela 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. Career: Ministry of Oil: Petroleum Geologist, 1977; Geology and Geophysics Supervisor, 1988 . OPEC Secretary General Mohammad Barkindo dies at age 63. Know more about our Privacy Policy here. 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. Sources and experts SR62.5 million from SR73.4 million during the same in the fourth quarter of 2022 fell percent! 2022 fell 15 percent to SR62.5 million from SR73.4 million during the last 30 years # KUNA #.... 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