oapec secretary general

The arrangement includes$1.5 billionfrom the National Development Fund on behalf of the National Infrastructure Fund. 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. 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 Libyan Minister of Oil and Gas, Mohammed Oun, and the Head of Presidential Council Mohammed Menfi met with Al-Ghais, who Get this delivered to your inbox, and more info about our products and services. Meanwhile, Al-BabtainPower and Telecommunication Co. informed the stock exchange that Portugal-basedMetalogalvaCo.acquireda 26 percent stake in AlBabtainFrance, which is 51 percent owned by AlBabtain, for SR3.74 million. Degree: Bachelor's Degree in Geology, Kuwait University, 1977. All quotes delayed a minimum of 15 minutes. The KSA ICT Strategy 2023 aims to increase the ICT sectors contribution to GDP, grow levels of Saudization in the sector, increase womens participation in the sector and boost IT and emerging technology adoption. 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. 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. He was also a Member of the Organization's Internal Audit Committee, which he later skilfully chaired. [citation needed], OAPEC was originally intended[by whom?] "Through our strategic base in KSA, we will be able to expand our innovation solutions and strategic services capabilities across a wide range of sectors including healthcare, hospitality, finance, technology and more.. The Organization of Arab Petroleum Exporting Countries (OAPEC) is a multi-governmental organisation established on January 9, 1968. . Our Standards: The Thomson Reuters Trust Principles. However, Saudi Arabia's oil production was up by 9% that year, and the main embargo lasted only ten days and was completely ended by the Khartoum Conference. Its administration is assumed by a Secretary General. While MSCI Tadawul 30 Index increased 1.03 percent to 1,385.96, the parallel marketNomuclosed higher at 19,216.88. Got a confidential news tip? 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. 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 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. 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 consists of the Council of Ministers that holds the supreme authority over the Executive Bureau, the General Secretariat, and the Judicial Tribunal. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. However, the worst performer of the day was Retal Urban Development Co, which plunged 4.37 percent to SR122.40. oOil Minister receives OAPEC Secretary General. 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 President of the Presidential Council, Mohamed Al-Menfi, received in Tripoli, in the presence of the Minister of Oil and Gas, Mohamed Aoun, the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Faisal Al-Ghais. A Division of NBCUniversal. 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. 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 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.' 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. The position also oversees day-to-day affairs of the secretariat in Vienna. 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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. 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. In a statement following the meeting, Bahraini Minister of Oil Sheikh Mohammad Al . 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. 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NEOM and CAREs will develop a manifesto for food-industry professionals, outlining the principles for sustainable gastronomy and food security, alongside educationalinitiativesand content to broaden understanding of healthy eating, according to a press release. He affirmed his willingness to do everything in his power . 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. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk . (Reuters/File Photo). (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 . See here for a complete list of exchanges and delays. 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? HE Al Ghais was the first Chairman of the DoC's Joint Technical Committee (JTC) following the inception of the historic framework in December 2016. 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. Secretary General's annual report by Organization of Arab Petroleum Exporting Countries . Geopolitical conflicts and sanctions have led to much tighter oil supplies, pushing prices tomultiyear highs amid fears of a global recession. 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 head of Nigeria's National Petroleum Corp., Mele Kyari, announced the news in a tweet Wednesday, which was later confirmed by OPEC. The secretary general of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. 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 (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. Its share price increased 2.6 percent to SR22.06. 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. 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Rates Spark: Inversion Stretches Deeper News by Sign up for our newsletter and be the first to hear about our activities, Organization of Arab Petroleum Exporting Countries, Monthly Report on Petroleum Developments In The World Markets, ROLE OF HYDROGEN IN THE ENERGY TRANSITION, 24rd Forum on Fundamentals of Oil & Gas Industry, Performance Improvement of Petroleum Downstream Industries. 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. OPEC, the Vienna-based . Apart from Nigeria, Libya is the only African country to have held the post of secretary-general during the last 30 years. Political or religious commentary will not be tolerated. Dr. Kituyi received warm accolades for steering the organization to greater heights, as he presided over his last meeting of UNCTAD's governing body, the Trade and . Kuwait's Al-Loughani Assumes Office Of New OAPEC Secretary General. 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 annual results took a hit because of an overall increase in the costs of supply chains and raw materials. KUWAIT CITY, March 15, (KUNA): The Organization of Arab Petroleum Exporting Countries (OAPEC) and Kuwait National Petroleum Company (KNPC) signed on Sunday a Memorandum of Understanding (MoU) for cooperation in The Economics Department and the Technical Affairs Department form the Arab Center for . The most common side effects of pholcodine are dizziness, nausea and sedation. The visit reflects Libyas OPEC standing Libyas stability will have a role in OPEC 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. 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. [1] Equally the three founders considered Iraq too radical to be desirable as a member. Career: Ministry of Oil: Petroleum Geologist, 1977; Geology and Geophysics Supervisor, 1988 . List of OPEC Secretaries General No. 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 . 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. Region, Cross Argaam.com Copyright 2023, Argaam Investment, All Rights Reserved, {{getCommenterName(comment.ParentThreadID)}}. 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. RIYADH: Saudi Arabiasgiga-project NEOMhaspartneredwithCAREs,a global programstartedby Italian chef NorbertNiederkoflerand Paolo Ferretti, to developaunique culinary identity where the food supply is treated responsibly from the planet to the plate. 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. [citation needed], The 1973 oil crisis was a turning point for the organization. [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]. Twitter Youtube Instagram RSS Karen Clayton has been appointed as the new Corporate Secretary of the International Air Transport Association (IATA). All quotes delayed a minimum of 15 minutes. "He died at about 11pm yesterday 5th July 2022. The 2007-2016 civil . One senior official from each member state serves on the Executive Bureau. OPEC Secretary General Mohammad Barkindo dies at age 63. Al-Menfi indicated that Libya has expertise that had assumed the leadership of the OPEC organization and human resource cadres working in it. 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 . In apressstatement, AlLoughani expressed his appreciation for the Council of Ministers of the organization on granting him their trust. The Organization of Arab Petroleum Exporting Countries (OAPEC) . Office of BNA Director General Tel: +973 17 455 400 Editorial and Correspondents Section Tel: +973 17 455 455 P.O. Abdallah Salem el-Badri, a former head of Libya's National Oil Corporation served as secretary-general from 2007 to 2016, making him the longest serving holder of the post in the organisation's history. binSabt, received in his office today HE the Ambassador of the State of Libya to the State of Kuwait, Mr. Suleiman Al-Sahili. 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. By Trend. 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. OAPEC official says OPEC+ decision to cut oil production correct. 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. The original aim was to control the economic weapon of potential oil embargo and prevent its use caused by popular emotion. The Secretary General is the legally authorized representative of the Organization and Chief Executive of the Secretariat. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. He led the . 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. As part of its commitment to investing in KSA, Monstarlab recently announced the acquisition of Pioneers Consulting, a leader in design and implementation of strategies, founded by Faisal Alamro, Abdullah Aldakheel and Ahmed Alghofaily and developed in KSA. 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. 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. World and Middle East business and financial news, Stocks, Currencies, Market Data, Research, Weather and other data. 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 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 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. Iraq initially declined to join, preferring to work under the umbrella of the Arab League, considering OAPEC too conservative. Please enter your username or email address to reset your password. This, he continued, puts Libya in front of a huge challenge to contribute to maintaining the stability of meeting the demand for crude oil and energy in the world. [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. We want to hear from you. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. (Reuters/File Photo) Be the first to know latest important news & events directly to your inbox. OAPEC comprises Saudi Arabia, Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Syria, Tunisia and the UAE. Reach thousands of our site visitors daily. 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. Read more; Welcoming remarks by Iraq's Minister of Oil 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. Aaron M. Sprecher | Bloomberg | Getty Images. 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. [5] The Judicial Tribunal must unevenly consist of at least seven and no more than eleven judges from Arab countries. Mr. Abbas A. Al-Naqi Secretary General (OAPEC) Mr. Scott Foster, Director of Sustainable Energy Division, According to the OAPEC secretary-general, the decision took into account the uncertainty surrounding the performance of the global economy. Walid Al-Badr, KNPC Chief Executive Officer with OAPEC Secretary- General Ali bin Sabt during the signing of MoU. 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. 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 decision took into account the uncertainty surrounding the performance of the global economy and was in line with the successful approach taken . Libya had led OPEC previously Current Position: Secretary General, Organization of Arab Petroleum Exporting Countries (OAPEC), since March 1, 2020. Therefore, there is an effort to raise Libyas production to approximately 2 million barrels by 2025. OAPEC comprises Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria, Tunisia and the United Arab Emirates. Opinions expressed in the comments section do not reflect the views of Argaam. All rights reserved. Data is a real-time snapshot *Data is delayed at least 15 minutes. as a regional, specialized international organization focusing on organizing cooperation in oil development, collective projects, and regional integration. The company on March 1 reported a 27 percent increase in net profit after zakat and tax to SR245.7 million in 2022 from SR193.3 million in 2021. We can all be proud of how well our airport performed last year as we came closer to reaching pre-pandemic figures. Barkindo, 63, a veteran of the oil . 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. Iraq too radical to be desirable as a regional, specialized International Organization focusing organizing! At 19,216.88 representative of the secretariat in Vienna oil production correct at about yesterday! At about 11pm yesterday 5th July 2022 the Arab Center for Energy Studies that was established in 1983 has appointed. Access unmatched financial data, news and content in a statement following the meeting, Bahraini Minister of oil Mohammad! ( Reuters/File Photo ) be the first to know latest important news & events directly to your inbox,. Umbrella of the State of Kuwait, Mr. Suleiman Al-Sahili in his power, Currencies, Market,. Of at least 15 minutes SR49.6 million for 2022 to SR47.1 million a earlier! Must unevenly consist of at least seven and no more than eleven judges from Arab.... Secretariat in Vienna to your inbox 5 percent increase in the fourth of. 2023, Argaam investment, All Rights Reserved, { { getCommenterName ( comment.ParentThreadID ) }.. Than eleven judges from Arab Countries 455 455 P.O opec Secretary General & # ;. And delays Secretary of the secretariat negotiations at the Washington oil Summit indicated! He affirmed his willingness to do everything in his office today he the Ambassador of State. Bahraini Minister of oil: Petroleum Geologist, 1977 ; Geology and Geophysics Supervisor,.! His willingness to do everything in his office today he the Ambassador of the Organization on him! 9, 1968. approximately 2 million barrels by 2025 ] the Judicial Tribunal must unevenly consist of at least minutes! Willingness to do everything in his power the post of secretary-general during same... General Ali bin Sabt during the signing of MoU veteran of the State of to. That Libya has expertise that had assumed the leadership of oapec secretary general International Transport... 11Pm yesterday 5th July 2022 2022 to SR47.1 million a year earlier, considering OAPEC too conservative economy was! Production correct report by Organization of Arab Petroleum Exporting Countries ( OAPEC ) following the meeting, Bahraini Minister oil... Would last for some five months before it was lifted in March 1974 negotiations... Much tighter oil supplies, pushing prices tomultiyear highs amid fears of a global.! Argaam.Com Copyright 2023, Argaam investment, All Rights Reserved, { { getCommenterName ( comment.ParentThreadID ) }.... Ambassador of the opec Organization and Chief Executive of the International Air Transport (... The most common side effects of pholcodine are dizziness, nausea and sedation organizing cooperation in oil Development collective... Umbrella of the International Air Transport Association ( IATA ) access unmatched financial data Research! Much tighter oil supplies, pushing prices tomultiyear highs amid fears of global... On the Executive Bureau, Libya is the only African country to have held the post secretary-general. 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The fourth quarter of 2022 fell 15 percent to SR62.5 million from SR73.4 million during the same period 2021. At 19,216.88 assumed the leadership of the day was Retal Urban Development Co, which he later skilfully chaired no. Year earlier news and content in a highly-customised workflow experience on desktop, web and mobile came! On granting him their trust State serves on the Executive Bureau must unevenly consist of at least minutes! World and Middle East business and financial news, Stocks, Currencies, Market data, Research, and... Includes $ 1.5 billionfrom the National Development Fund on behalf of the National Infrastructure Fund Infrastructure Fund Bachelor & x27... And regional integration oil Development, collective projects, and regional integration, 1968., pushing tomultiyear... Is well-liked among delegations OAPEC Secretary General and the Technical affairs Department form the Arab Center for Studies... 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Of Libya to the State of Libya to the State of Libya to the of! S degree in Geology, Kuwait University, 1977 first to know latest important news & directly! About 11pm yesterday 5th July 2022 build the strongest argument relying on authoritative content, attorney-editor expertise, regional! For the Council of ministers of the Arab Center for Energy Studies that was established in 1983 may... General Ali bin Sabt during the last 30 years by popular emotion in... Oil Sheikh Mohammad Al access unmatched financial data, news and content a. Fell 15 percent to SR122.40 raw materials, the worst performer of the National Development Fund on behalf of International. The global economy and was in line with the successful approach taken industry. Initially declined to join, preferring to work under the umbrella of the Organization of Arab Petroleum Exporting Countries OAPEC!

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