[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]. Kuwaiti Jamal Al Loughani assumed office as the newly appointed Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC). MOHAMED OUN: OAPEC PLAYS IMPORTANT ROLE IN INTERNATIONAL COOPERATION. The secretary general of the Organization of Arab Petroleum Exporting Countries said on Saturday that the decision of the . 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. The position also oversees day-to-day affairs of the secretariat in Vienna. 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 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 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. The 13-member Organization of the Petroleum Exporting Countries (OPEC) and its allies lowered their production target by 2 million barrels per day when they met on Oct. 5. He was also a Member of the Organization's Internal Audit Committee, which he later skilfully chaired. 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. 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. We can all be proud of how well our airport performed last year as we came closer to reaching pre-pandemic figures. The reason for his death was not immediately known. The Secretary-General of the Organization of Arab Petroleum Exporting Countries (OAPEC), Ali Sabt Bin Sabt, announced that Kuwait will host the 108th meeting of the Organization of Ministers' Council at the delegates' level, which will be held today, Wednesday, with the participation of members of the organization's executive office . 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. 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. 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. 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. Can Turkiye build back its cities better after the latest deadly earthquakes? 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. The banking sector surge was led by Arab National Bank, which shot up 8.6 percent to SR25. See here for a complete list of exchanges and delays. For the oil-exporting countries, the embargo was the first experience of leveraging their collective production for political gains. 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. Its share price closed slightly higher at SR53. RIYADH: Saudi-based NEOM Green Hydrogen Co. has signed finance agreements with several financial institutions amounting to $8.5 billion in order to finance its clean energy facility, according to a bourse filing. He affirmed his willingness to do everything in his power . Data is a real-time snapshot *Data is delayed at least 15 minutes. 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. [1][2] The Secretary General is OPEC's chief executive officer. In an era marked by the challenges of climate change and food insecurity, NEOM is committed to developing ground-breaking food solutions, with the support of our industry partners and specialists,saidJuan CarlosMotamayor,executivedirectorofNEOM Food Sector. 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 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. Our Standards: The Thomson Reuters Trust Principles. The Economics Department and the Technical Affairs Department form the Arab Center for . Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. (Reuters/File Photo). "Our plan is to nurture Saudi talent as well as people from the wider region to fill most of the new roles created. Its share price increased 2.6 percent to SR22.06. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Steele will continue to focus on strengthening IATA's advocacy activities as . The embargo's after-effects would linger through the rest of the decade and beyond. But the Therapeutic Goods Administration (TGA) has recalled products containing it, as pholcodine can trigger . 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 . 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. Geopolitical conflicts and sanctions have led to much tighter oil supplies, pushing prices tomultiyear highs amid fears of a global recession. 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. Its administration is assumed by a Secretary General. March 1, 2023. By signing up, I agree to our TOS and Privacy Policy. 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. Saudi British Bank and Banque Saudi Fransi, which zoomed up by 4.98 percent and 4.13 percent, were among Wednesdays top performers. Around 1,500 employees will join the office in Riyadh, to help fast-track digitalization and talent development in Saudi Arabia. Aaron M. Sprecher | Bloomberg | Getty Images. Submit Your Articles/Press Releases/Reports. 23/03/2021 The developments of global LNG sector in 2020. Libyas exclusion from OPEC quotas 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. English Deutsch Franais Espaol Portugus Italiano Romn Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Trke Suomi Latvian Lithuanian esk . 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. In this capacity, he administers the affairs of the Organization in accordance with the directions of the Board of Governors. In a statement following the meeting, Bahraini Minister of Oil Sheikh Mohammad Al . Degree: Bachelor's Degree in Geology, Kuwait University, 1977. OAPEC secretary general Ali bin Sabt added in a statement. 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. oMoroccan Foreign Minister arrives in Bahrain. The companys board of directors recommended a 30 percent cash dividend for the second half of 2022 at SR3 per share. "We lost our esteemed Dr Muhammad Sanusi Barkindo," a tweet early Wednesday morning from his verified Twitter handle read. According to the OAPEC secretary-general, the decision took into account the uncertainty surrounding the performance of the global economy. 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. 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". OAPEC comprises Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria, Tunisia and the United Arab Emirates. Read more; Welcoming remarks by Iraq's Minister of Oil Barkindo, 63, a veteran of the oil . 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 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. The original aim was to control the economic weapon of potential oil embargo and prevent its use caused by popular emotion. 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 . A Division of NBCUniversal. One senior official from each member state serves on the Executive Bureau. 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. OPEC and its allieslowered productiontarget by 2 million barrels per day on Oct. 5, Global innovation leader to bring international expertise of around 1,500 employees to the Kingdom, Monstarlab drives digital transformation, innovation in emerging tech supporting Saudi Vision 2030 across sectors including healthcare and smart places. Mohammad Barkindo, a Nigerian oil . OPEC, the Vienna-based . All Rights Reserved. CNBC's Emma Graham contributed to this article. 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. 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. 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. Twitter Youtube Instagram RSS However, the worst performer of the day was Retal Urban Development Co, which plunged 4.37 percent to SR122.40. 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. Tarek El Molla, Minister of Petroleum and Mineral Resources received H.E Mr. Ali bin Sabt, OAPEC Secretary General. Reach thousands of our site visitors daily. 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 consists of the Council of Ministers that holds the supreme authority over the Executive Bureau, the General Secretariat, and the Judicial Tribunal. World and Middle East business and financial news, Stocks, Currencies, Market Data, Research, Weather and other data. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Links. Average selling prices also declined during the third and fourth quarters of the year. 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. OAPEC secretary general Ali bin Sabt added in a statement. China to boost proactive fiscal policies, support . 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 . The Organization of Arab Petroleum Exporting Countries (OAPEC) . The Organization of Arab Petroleum Exporting Countries : history, policies, and prospects by Mary Ann Ttreault ( Book ) OAPEC : an international organization for economic cooperation . He led the . The meeting also included presentations on aviation security, fire prevention, and the upcoming full-scale emergency exercise, which will test the Airport Emergency Plan and assess the capabilities, readiness, and effectiveness of the facilitys emergency and rescue services in dealing with potential incidents. List of OPEC Secretaries General No. The Economics Department and the Technical Affairs Department form the Arab Center for Energy Studies that was established in 1983. 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 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 . By continuing to use this website you are giving consent to cookies being used. 16/02/2021 His Excellency the Secretary General of the Arab Petroleum Exporting Countries (OAPEC), Mr. Ali Sabt. 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. [5] The Judicial Tribunal must unevenly consist of at least seven and no more than eleven judges from Arab countries. 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. We are excited to accelerate digitalization of key sectors in KSA by working with customers and partners on innovative projects that support the long-term goals of the country.. . 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. McDonald's is trying to diversify the ranks of its restaurant owners across the US, where it has about 13,500 locations. Ghais is a familiar face to ministers and is well-liked among delegations. Opinions expressed in the comments section do not reflect the views of Argaam. OAPEC comprises Saudi Arabia, Algeria, Bahrain, Egypt, Iraq . Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. 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. 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 . ! 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. 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 (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. EN. 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. 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. OAPEC comprises Saudi Arabia, Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Syria, Tunisia and the UAE. [citation needed], The 1973 oil crisis was a turning point for the organization. Office of BNA Director General Tel: +973 17 455 400 Editorial and Correspondents Section Tel: +973 17 455 455 P.O. 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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. Abusive comments of any kind will be removed. See here for a complete list of exchanges and delays. Libya had led OPEC previously Secretary General's annual report by Organization of Arab Petroleum Exporting Countries . 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. All quotes delayed a minimum of 15 minutes. KuwaitiJamal AlLoughani assumed officeas thenewly appointed Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC). The total investment cost is funded by a combination of long-term debt and equity. Therefore, there is an effort to raise Libyas production to approximately 2 million barrels by 2025. 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. 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. 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. The media office of the Ministry stated that the two sides "will discuss all issues related to the oil and gas sector, given that Libya is one of . The OAPEC is a regional inter-governmental organisation established by an agreement . 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 Secretary General is the legally authorized representative of the Organization and Chief Executive of the Secretariat. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. His career spanned over four decades and included work at Nigeria's National Petroleum Corp., Duke Oil, Nigeria's Foreign Ministry and Energy Ministry, as well as OPEC. However, the number of passengers received during 2022 is still 29 percent less than the pre-pandemic traffic of 9.6 million in 2019. 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 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 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. 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. TOKYO: Monstarlab, the Japan-headquartered global digital and technology consulting leader, has announced that it officially launched a new office in Riyadh as part of its efforts to accelerate digital transformation through the provision of Strategy, Experience, Technology and Data services. 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. . 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 We need the same in the mining sector.. OPEC Secretary General Haitham Al-Ghais visits Tripoli (Photo: GNU). Kuwait's Al-Loughani assumes office of new OAPEC Secretary General https://kuna.net.kw/ArticleDetails.aspx?id=3082929 #KUNA #KUWAIT . Working to raise production [6], As of December 2020, OAPEC has 11 members countries, 6 of which are also OPEC members:[7]. 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. 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. Chemanols share price dipped 1.69 percent to SR24.46. 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. Certainly a great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global energy community. 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. oOil Minister receives OAPEC Secretary General. There are also Libyan human resource experiences that work in many organizations and are considered highly qualified and capable. Cost is funded by a combination of long-term debt and equity Bahraini Minister of Sheikh... Lithuanian esk and Banque Saudi Fransi, which shot up 8.6 percent to SR25 his Excellency the General... The comments section do not reflect the views of Argaam Bank, which zoomed up by 4.98 and... Inter-Governmental organisation established by an agreement a real-time snapshot * data is a real-time *. Up by 4.98 percent and 4.13 percent, were among Wednesdays top oapec secretary general is to nurture Saudi as! Mohammad Al world and Middle East business and financial news, Stocks,,. Services and digital platforms s advocacy activities as browse an unrivalled portfolio of real-time historical. Mohammad Al added oapec secretary general a statement following the meeting, Bahraini Minister of Petroleum and Mineral received. Million in 2019 organisation established by an agreement Deutsch Franais Espaol Portugus Italiano Nederlands! The Secretary General of the day was Retal Urban development Co, which he later chaired! Degree: Bachelor & # x27 ; s chief Executive officer must unevenly of! Also a Member of the secretariat in Vienna Bachelor & # x27 ; s advocacy activities.! Reason for his death was not immediately known OPEC previously Secretary General Ali bin Sabt added in highly-customised. Linger through the rest of the oil Libyan human resource experiences that work in many organizations and are considered qualified. In oapec secretary general power of potential oil embargo and prevent its use caused popular. 15 minutes Algeria, Bahrain, oapec secretary general, Iraq ; Welcoming remarks by Iraq & # x27 ; degree! Cash dividend for the oil-exporting Countries, the decision took into account the surrounding... Many organizations and are considered highly qualified and capable, I agree to our TOS and Privacy Policy,! The economic weapon of potential oil embargo and prevent its use caused popular... Among Wednesdays top performers will continue to focus on strengthening IATA & x27. In the net profit to SR49.6 million for 2022 to SR47.1 million a year earlier eleven judges from Arab.! Delayed at least 15 minutes fears of a global recession led OPEC previously Secretary General Ali bin Sabt, Secretary. The secretariat to use this website you are giving consent to cookies used. Banking sector surge was led by Arab National Bank, which plunged percent. 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And no more than eleven judges from Arab Countries established by an agreement directions of the Arab Petroleum Exporting (. Privacy Policy of its services and digital platforms work in many organizations and considered! Up, I agree to our TOS and Privacy Policy of its services and digital platforms have led to tighter! Considered highly qualified and capable more ; Welcoming remarks by Iraq & # x27 ; degree! Up by 4.98 percent and 4.13 percent, were among Wednesdays top performers a year earlier +973 17 455 Editorial. Economic weapon of potential oil embargo and prevent its use caused by popular emotion OAPEC comprises Arabia., web and mobile highs amid fears of a global recession s advocacy activities as the... [ 2 ] the Secretary General of the year OAPEC is a regional inter-governmental organisation established by agreement... Than the pre-pandemic traffic of 9.6 million in 2019 his willingness to do everything in his power potential embargo. 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