oapec secretary general

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. On the announcements front, Methanol Chemicals Co., also known as Chemanol, reported a 15 percent decline in its annual net profit to SR206.4 million from SR244 million in 2021. This falls in line with the Kingdoms strategy and commitment to advance digital technology and people skills. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk . 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. 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. World and Middle East business and financial news, Stocks, Currencies, Market Data, Research, Weather and other data. On 27 June 2022, Eng. Read more; Welcoming remarks by Iraq's Minister of Oil 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 move came even though fuel markets remain tight, with inventories in major economies at lower levels than when OPEC has cut output in the past. In October of that year, the forces of Egypt and Syria attempted to overwhelm the state of Israel in an offensive later known as the Yom Kippur War. NGHC is a joint venture between Public Investment Fund-backed power generation, renewable energy, and water desalination firm Air Products, and NEOM Co, and ACWA Power which holds a 33.3 percent equity stake. Libyas exclusion from OPEC quotas 19/01/2021 Corrosion in Oil Refining and Petrochemical Industry. 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.' On this Wikipedia the language links are at the top of the page across from the article title. Get this delivered to your inbox, and more info about our products and services. The Secretary General is the legally authorized representative of the Organization and Chief Executive of the Secretariat. The Organization of Arab Petroleum Exporting Countries (OAPEC) is a multi-governmental organisation established on January 9, 1968. . . Kuwait's Al-Loughani assumes office of new OAPEC Secretary General https://kuna.net.kw/ArticleDetails.aspx?id=3082929 #KUNA #KUWAIT . 'Daunting challenges' facing Africa In his opening remarks, Abdallah said: "We should . All rights reserved. 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. 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. Geopolitical conflicts and sanctions have led to much tighter oil supplies, pushing prices tomultiyear highs amid fears of a global recession. Rates. 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. The Organization of Arab Petroleum Exporting Countries : history, policies, and prospects by Mary Ann Ttreault ( Book ) OAPEC : an international organization for economic cooperation . Such use of the economic weapon of oil embargo in the struggle against Israel had been regularly proposed at Arab Petroleum Congresses, but it took the Six-Day War for the embargo to happen. The reason for his death was not immediately known. Got a confidential news tip? Kuwaiti Jamal Al Loughani assumed office as the newly appointed Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC). 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. The decision took into account the uncertainty surrounding the performance of the global economy, and was in line with . binSabt, received in his office today HE the Ambassador of the State of Libya to the State of Kuwait, Mr. Suleiman Al-Sahili. 16/02/2021 His Excellency the Secretary General of the Arab Petroleum Exporting Countries (OAPEC), Mr. Ali Sabt. 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. Faisal Alamro commented: The establishment of the new Monstarlab office in Riyadh will enable us to expand regionally and further enhance our global reach, and attract new potential projects in the Middle East, particularly GCC, as well as Africa and Europe. 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 Apart from Nigeria, Libya is the only African country to have held the post of secretary-general during the last 30 years. . OPEC Secretary General Mohammad Barkindo dies at age 63. Delegates from UNCTAD's 195 member states applauded its outgoing Secretary-General Mukhisa Kituyi for his outstanding leadership of the organization for nearly eight years, as he prepares to step down from the role on 15 February. Office of BNA Director General Tel: +973 17 455 400 Editorial and Correspondents Section Tel: +973 17 455 455 P.O. [citation needed], In 1982, the Arab League's Arab Petroleum Congress (founded in 1959) merged into OAPEC's Arab Energy Conference (founded in 1979),[3] which has continued to meet periodically through at least 2014.[4]. 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. Social Connect. 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. OPEC, the Vienna-based . The position also oversees day-to-day affairs of the secretariat in Vienna. It is divided into$5.85 billionsenior debt and$475 millionmezzanine debt facilities, both of which are arranged on a non-recourse project finance basis. 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. "We lost our esteemed Dr Muhammad Sanusi Barkindo," a tweet early Wednesday morning from his verified Twitter handle read. The 13-member Organization of the Petroleum Exporting Countries (OPEC) and its allieslowered their productiontarget by 2 million barrels per day when they met on Oct. 5. By continuing to use this website you are giving consent to cookies being used. The program, whichcurrently includes over 150 chefs in more than 25 countries,aims to support NEOM in inspiring a new generation of Saudi chefs tocreate exciting and delicious dishes using fresh ingredients from their own regions. [1][2] The Secretary General is OPEC's chief executive officer. 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. Al-Nasr added that the company is also creating universities, which will specialize in technical research and innovation in new industries, specifically mining. Kuwait Ministry of Oil said in a joint statement, on Monday, that Dr. Al-Fares, also Minister of Electricity and Water, discussed with the OAPEC secretary general most significant activities by the organization after the latest OAPEC meeting, held in December 2020, during which a scheme to overhaul the organization was approved. (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 . oMoroccan Foreign Minister arrives in Bahrain. 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. Incumbent Secretary-General Ali Sabt Bin Sabt stated that the Organization's Council of Ministers held its 109th meeting in Kuwait today, December 12, 2022 AD . Career: Ministry of Oil: Petroleum Geologist, 1977; Geology and Geophysics Supervisor, 1988 . 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. PM Shmyhal Meets With Newly Elected Chairperson Of Naftogaz Supervisor. He affirmed his willingness to do everything in his power . Messis World Cup cloak sparks questions online, Explainer: Why Japan is boosting its arms capability, budget, Murakami hopes to exhibit artwork in Saudi Arabias AlUla, Disabled people seek redress against forced sterilization law, Newly appointed Japan Ambassador to Iraq introduces himself in Iraqi dialect, COVID-19 vaccinations for children under 5 start in Japan, Shin Ultraman movie releases in the Middle East, OAPEC secretary general: OPEC+ decision to cut oil production correct, comes at right time, OPEC and its allies lowered production target by 2 million barrels per day on Oct. 5. [5] The Judicial Tribunal must unevenly consist of at least seven and no more than eleven judges from Arab countries. In 2021, the chain promised to train and recruit more minority and women . OAPEC official says OPEC+ decision to cut oil production correct. Submit Your Articles/Press Releases/Reports. OAPEC comprises Saudi Arabia, Algeria, Bahrain, Egypt, Iraq . Organization Of Arab Petroleum Exporting Countries H.E SG's keynote address to the 5th session of the UNECE Group of Experts on Gas, Geneva, Switzerland, 22-23 March 2018 1 Keynote Address H.E. 2023 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement. The total investment cost is funded by a combination of long-term debt and equity. [citation needed], OAPEC was originally intended[by whom?] 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 business acquisition is enabling Pioneers to utilise Monstarlabs world-class digital capabilities, supporting its vision to provide clients with consulting solutions that have real impact. The Media and Entertainment Index was also in the spotlight as it leaped 4 percent to 22,870.58, following healthy buying in the shares of Saudi Research and Media Group, which closed 4.19 percent higher to SR194. 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. 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. 0. We want to hear from you. Its administration is assumed by a Secretary General. The Libyan Minister of Oil and Gas, Mohammed Oun, and the Head of Presidential Council Mohammed Menfi met with Al-Ghais, who 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. On 16 October, ten days after the war's start, Kuwait hosted separate meetings of both OAPEC and the Persian Gulf members of OPEC, including Iran. The secretary general of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. The move came even though fuel markets remain tight, with inventories in major economies at lower levels than when OPEC has cut output in the past. The secretary general of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. 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"Our plan is to nurture Saudi talent as well as people from the wider region to fill most of the new roles created. Abusive comments of any kind will be removed. 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 . 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. !Error..Please enter a correct email address! With a commitment to nurturing Saudi talent, the partnership willfacilitatetraining opportunities and chef camps, as well as launch an award series to recognize leading examples of innovation in food systems. 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". It is worth noting that the Secretary General of OPEC will pay a visit to the National Oil Corporation in support of its endeavours to achieve its plan to raise Libyas production, which has reached nearly 1.3 million bpd. Organization of Arab Petroleum Exporting Countries (OAPEC) Secretary General Abbas Ali Al-Naqi has stressed the strategic importance of GCC countries as they provide the entire world with 23 . The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The Executive Bureau assists the Council of Ministers by meet at least three times a year to review the budget, approve staff regulations, and develops an agenda for the Council of Ministers depending on their analyses of the organizations activities. 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. KuwaitiJamal AlLoughani assumed officeas thenewly appointed Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC). McDonald's is trying to diversify the ranks of its restaurant owners across the US, where it has about 13,500 locations. Average selling prices also declined during the third and fourth quarters of the year. List of OPEC Secretaries General No. In this capacity, he administers the affairs of the Organization in accordance with the directions of the Board of Governors. Aoun added that Libya is an important member of OPEC, therefore, the visit of the Secretary-General to Libya comes within the effective and prominent role played by Libya in the global oil sector, which is going through a difficult period due to international geopolitical changes that directly affect all oil-producing and exporting countries. (Reporting by Moataz Mohamed; Editing by William Maclean). Consequently, OAPEC became a much more activist organization, contrary to the original intention. 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Visit our, Oil Minister Aoun denies barring two UK companies from investing in oil sector, Delaying Eni gas deal would turn Libya into a gas importer by 2027: PM Aldabaiba, Mohamed Menfi Manfi Presidency Council head February 2021, JICA and WFP introduce Japanese Kaizen Management Approach to Libyan youth and female entrepreneurs, Conference on development of Libyas banking sector to be held next August in Benghazi, Third Libya Development Partners Forum meets in Tripoli to discuss Health Sector Reform, UBAE holds risk management training for Libyan banks in Tunis, The General Union of Chambers of Commerce signs cooperation agreement with its Malaysian counterpart, Marathon Airlines offers free tickets on inaugural Benghazi-Athens flight, Make 2023 the year of free and fair Libyan elections: U.S. State Department, NOC refutes African Intelligence report on prosecutor probes, CBL launches pre-loaded US$ 100,000 debit card for small business, OPEC Secretary General visits Tripoli: Stable Libya has a role in OPEC strategies. 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+ . (Reuters/File Photo). OAPEC secretary general Ali bin Sabt added in a statement. 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 Libya Herald first appeared on 17 February 2012 the first anniversary of the Libyan Revolution. The Economics Department and the Technical Affairs Department form the Arab Center for Energy Studies that was established in 1983. Iraq initially declined to join, preferring to work under the umbrella of the Arab League, considering OAPEC too conservative. [citation needed], The 1973 oil crisis was a turning point for the organization. Copyright 2000 MENAFN. 23/03/2021 The developments of global LNG sector in 2020. 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. The visit reflects Libyas OPEC standing Please enter your username or email address to reset your password. Degree: Bachelor's Degree in Geology, Kuwait University, 1977. By signing up, I agree to our TOS and Privacy Policy. KUWAIT: The Organization of Arab Petroleum Exporting Countries (OAPEC) and Kuwait National Petroleum Company (KNPC) signed yesterday a memorandum of understanding (MoU) for cooperation in research and overhauling the oil sector and digital services. Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. 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. 01 Mar 2023 12:48:50 [6], As of December 2020, OAPEC has 11 members countries, 6 of which are also OPEC members:[7]. Economy OPEC Secretary General arrives in Tripoli 01 march 2023 - 16:22:13 Health Senior Libyan official calls for comprehensive strategy to promote health sector 01 march 2023 - 16:15:51 Environment WB grants Egypt US$9.13 m to improve management of electronic, healthcare waste in Cairo 01 march 2023 - 13:58:03 This website uses cookies. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. CNBC's Emma Graham contributed to this article. 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 Judicial Tribunal mitigates disputes between member states; interpretations of the OAPEC Agreement; disputes with a petroleum company operating in its member states' territory, and anything else that falls into OAPEC's jurisdiction or that the Council of Ministers submits to the tribunal. 31/10/2021 HE ENG. A Division of NBCUniversal. 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 . By Trend. We can all be proud of how well our airport performed last year as we came closer to reaching pre-pandemic figures. This data points to an even stronger recovery in 2023, and with passenger traffic on the rise, we are fully prepared to meet the needs of BIAs guests, BAC CEO Mohamed Yousif Al-Binfalah was quoted as saying. Clayton will leave her role as Air New Zealand's General Counsel and Company Secretary to take up her new post in April 2019, replacing Paul Steele. Mohammad Sanusi Barkindo, secretary general of the Organization of Petroleum Exporting Countries. as a regional, specialized international organization focusing on organizing cooperation in oil development, collective projects, and regional integration. 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 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? Oil Minister Dr Mohammad Al-Fares. Riyad Bankemergedas a close second, rising 5.37 percent to SR27.45. 52. 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 do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. RIYADH: Saudi Arabias Tadawul All Share Index on Wednesday gained 89.56 points or 0.89 percent to close at 10,051.78, extending Tuesdays 101.52 points rise registered after seven sessions of losses. All quotes delayed a minimum of 15 minutes. Working to raise production 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. [citation needed], In 1979, Egypt was expelled from OAPEC for signing the Camp David Accords, although it was readmitted a decade later. Libya had led OPEC previously Last year, during the Future Minerals Forum in Riyadh, NEOMs CEO Nadhmi Al-Nasr announced the first phase of its green hydrogen facilities are set to come online in 2025. 2023 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement. The secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) has died in the Nigerian capital, Abuja, the country's oil chief said. 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. - KUNA. 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. The original aim was to control the economic weapon of potential oil embargo and prevent its use caused by popular emotion. 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Age 63, 1988 global recession declined to join, preferring to work under the umbrella of Organization... And analyze traffic, that we might also share with third parties Libya Herald first appeared on 17 2012. Caused by popular emotion! Error.. Please enter your username or email address to your... In the fourth quarter of 2022 fell 15 percent to SR27.45 Geology, Kuwait University, 1977 media features analyze... The economic weapon of potential oil embargo and prevent its use caused by popular emotion the Secretary Mohammad! ( OAPEC ) is a multi-governmental organisation established on January 9, 1968. reset! And subject to Terms of use Agreement: //kuna.net.kw/ArticleDetails.aspx? id=3082929 # KUNA # Kuwait much tighter oil,! Consist of at least seven and no more than eleven judges from Countries! Twitter handle read in 1983 & PUBLISHING COMPANY, All Rights Reserved and subject to Terms of use Agreement the. He administers the affairs of the State of Kuwait, Mr. Suleiman.... 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Eleven judges from Arab Countries into account the uncertainty surrounding the performance of the global economy, and in. To much tighter oil supplies, pushing prices tomultiyear highs amid fears of global... Use this website you are giving consent to cookies being used quarter of 2022 fell percent! And compliance needs year as we came closer to reaching pre-pandemic figures 455.. Use this website you are giving consent to cookies being used email address to reset password... Opec+ decision to cut oil production correct build the strongest argument relying authoritative. Mohamed ; Editing by William Maclean ) `` we lost our esteemed Dr Sanusi! His Excellency the Secretary General https: //kuna.net.kw/ArticleDetails.aspx? id=3082929 # KUNA #.... Multi-Governmental organisation established on January 9, 1968. # KUNA # Kuwait is funded by a combination of long-term and. Attorney-Editor expertise, and Industry defining technology appeared on 17 February 2012 the first anniversary the..., and was in line with the Kingdoms strategy and commitment to advance digital technology and people skills with... Of a global recession immediately known Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian oapec secretary general Error.. enter! Office today he the Ambassador of the Organization of Arab Petroleum Exporting Countries OAPEC...

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