oapec secretary general

The companys board of directors recommended a 30 percent cash dividend for the second half of 2022 at SR3 per share. 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. Canal Heights will offer a range of layouts from studio, 1-bedroom, 2-bedroom, 3-bedroom and 4-bedroom apartments with expansive views of the bustling Business Bay district, and Sheikh Zayed Road . 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. 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. Steele will continue to focus on strengthening IATA's advocacy activities as . 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. "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.. Office of BNA Director General Tel: +973 17 455 400 Editorial and Correspondents Section Tel: +973 17 455 455 P.O. One senior official from each member state serves on the Executive Bureau. 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 . The 2007-2016 civil . Abusive comments of any kind will be removed. A number of the member nations would use this sense of control to renegotiate the contracts they had made with the companies that had discovered and exploited their resources. 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 secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) has died in the Nigerian capital, Abuja, the country's oil chief said. "We lost our esteemed Dr Muhammad Sanusi Barkindo," a tweet early Wednesday morning from his verified Twitter handle read. 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. 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.. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. OAPEC comprises Saudi Arabia, Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Syria, Tunisia and the UAE. 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. 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. Kuwaiti Jamal Al Loughani assumed office as the newly appointed Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC). Aaron M. Sprecher | Bloomberg | Getty Images. The Secretary General served as Kuwait's Governor for OPEC from 2017 to 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. 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. ) KUWAIT, March 1 (KUNA) -- The newly appointed Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Jamal Al-Loughani Wednesday, 01 March 2023 04:25 GMT EN. Chemanols share price dipped 1.69 percent to SR24.46. 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. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits. 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. Atlantic Council CEO Frederick Kempe had previously described Barkindo as having "unparalleled expertise on oil markets, security, and governance" and "a deep understanding of geopolitics in a volatile world. The 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. 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. oMoroccan Foreign Minister arrives in Bahrain. 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. 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 . 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 reason for his death was not immediately known. In addition to this, the arrangement also includes$1.25 billion inthe form of Saudi riyal-denominated financing from Saudi Industrial Development Fund. Below is a list with each Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), based on the organization's official publications. OAPEC secretary general Ali bin Sabt added in a statement. List of OPEC Secretaries General No. 16/02/2021 His Excellency the Secretary General of the Arab Petroleum Exporting Countries (OAPEC), Mr. Ali Sabt. [citation needed], In 1979, Egypt was expelled from OAPEC for signing the Camp David Accords, although it was readmitted a decade later. 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. 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 . 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. Our Standards: The Thomson Reuters Trust Principles. Twitter Youtube Instagram RSS 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. All quotes delayed a minimum of 15 minutes. 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? By continuing to use this website you are giving consent to cookies being used. See here for a complete list of exchanges and delays. 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. In apressstatement, AlLoughani expressed his appreciation for the Council of Ministers of the organization on granting him their trust. 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. 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. 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. . The decision took into account the uncertainty surrounding the performance of the global economy, and was in line with . 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. ! This organizational exclusivity was bolstered by an additional rule in the organization's charter requiring the three founders' approval of all new members. According to the OAPEC secretary-general, the decision took into account the uncertainty surrounding the performance of the global economy. 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. [citation needed], The 1973 oil crisis was a turning point for the organization. Argaam.com Copyright 2023, Argaam Investment, All Rights Reserved, {{getCommenterName(comment.ParentThreadID)}}. 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. All quotes delayed a minimum of 15 minutes. The Kingdom has also encouraged using artificial intelligence to achieve Vision 2030 and Smart Government Strategy objectives. Geopolitical conflicts and sanctions have led to much tighter oil supplies, pushing prices tomultiyear highs amid fears of a global recession. Social Connect. The Role of Scientific Research in Developing the Petrochemical Industry), Corrosion in Oil Refining and Petrochemical Industry), Plastic Waste Recycling, Investment Opportunities and Environmental Solutions), Energy consumption in the industrial sector in the OAPEC member countries), Effect of Oil Prices collapse due to Covid-19 on Upstream Industry), Quarterly report of The developments of Global LNG Sector during Q4 - 2020), The Role of Scientific Research in Developing, Corrosion in Oil Refining and Petrochemical Industry, Energy consumption in the industrial sector in the OAPEC member countries, The developments of Global LNG Sector during Q4 - 2020, 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, OAPEC saddened over the news of Mohammad Sanusi Barkindos passing away, HE ENG. 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. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. Be the first to know latest important news & events directly to your inbox. 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. Current Position: Secretary General, Organization of Arab Petroleum Exporting Countries (OAPEC), since March 1, 2020. 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. OPEC Secretary General Mohammad Barkindo dies at age 63. (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 . - KUNA. The banking sector surge was led by Arab National Bank, which shot up 8.6 percent to SR25. Consequently, OAPEC became a much more activist organization, contrary to the original intention. Walid Al-Badr, KNPC Chief Executive Officer with OAPEC Secretary- General Ali bin Sabt during the signing of MoU. . Secretary General's annual report by Organization of Arab Petroleum Exporting Countries . Can Turkiye build back its cities better after the latest deadly earthquakes? 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. 'Daunting challenges' facing Africa In his opening remarks, Abdallah said: "We should . The NEOM Green Hydrogen Project includes the development, financing, design, engineering, procurement, manufacturing, and factory testing of a world scale green hydrogen and green ammonia plant. Ghais is a familiar face to ministers and is well-liked among delegations. 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. Therefore, there is an effort to raise Libyas production to approximately 2 million barrels by 2025. 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. binSabt, received in his office today HE the Ambassador of the State of Libya to the State of Kuwait, Mr. Suleiman Al-Sahili. 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 continued preservation of the organizations position despite the political and international challenges after the Corona pandemic, especially as we are on the verge of a further recovery in the global oil market. The cargo tonnage increased by 17 percent to 379,000 tons in 2022 from 324,000 tons in 2021. Oil Minister Dr Mohammad Al-Fares. 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 Conference appoints the Secretary General for a period of three years, which may be renewed . The Libya Herald first appeared on 17 February 2012 the first anniversary of the Libyan Revolution. 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. OAPEC comprises Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar . 2023 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement. Please enter your username or email address to reset your password. Around 1,500 employees will join the office in Riyadh, to help fast-track digitalization and talent development in Saudi Arabia. [6], As of December 2020, OAPEC has 11 members countries, 6 of which are also OPEC members:[7]. 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. 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. 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. This website uses cookies. 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 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. 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 secretary general is OPEC's public face to international bodies and is responsible for convening meetings, including extraordinary sessions as market conditions warrant. The annual results took a hit because of an overall increase in the costs of supply chains and raw materials. 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. 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 . 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. "He died at about 11pm yesterday 5th July 2022. Submit Your Articles/Press Releases/Reports. 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. RIYADH:Bahrain International Airport welcomed 6.9 million passengers in 2022, marking an increase of 125 percent from 3 million in 2021, the Bahrain News Agency reported. The (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. OAPEC comprises Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria, Tunisia and the United Arab Emirates. 2023 CNBC LLC. Al-Menfi indicated that Libya has expertise that had assumed the leadership of the OPEC organization and human resource cadres working in it. 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. 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. 2023 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement. OAPEC secretary general Ali bin Sabt added in a statement. MOHAMED OUN: OAPEC PLAYS IMPORTANT ROLE IN INTERNATIONAL COOPERATION. Karen Clayton has been appointed as the new Corporate Secretary of the International Air Transport Association (IATA). 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 . This post has been read 9294 times! However, the worst performer of the day was Retal Urban Development Co, which plunged 4.37 percent to SR122.40. 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. Saudi British Bank and Banque Saudi Fransi, which zoomed up by 4.98 percent and 4.13 percent, were among Wednesdays top performers. . On 27 June 2022, Eng. The secretary general of the Organization of Arab Petroleum Exporting Countries said on Saturday that the decision of the . All Rights Reserved. The tribunal's judgments are final and binding, and will be enforceable within the territories of residing members. 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. In Iraq, UN Chief Calls For End To Cycles Of Instability Arab Culture Theme Of Festival In So Paulo Mall PSD Chief Attends Police Cadet Graduation Zaha Cultural Centre Signs 8 Agreements With Gov't, Csos JAF's Contributions 'Speak For Themselves', Says Shboul On Arabisation An Princess Basma Bint Ali Attends Sustainable Pasture Administration Confer Canine Scare On Jordan's Streets Divides Public Opinion Use Of Powdered Milk In Dairy Production Stirs Objection Faraya Calls For Joint Arab Vision To Manage Disasters Parents Struggle To Keep Up With Rising Cost Of Children's Clothes WORLDVIEW: Why Europe Conquered The World. Rates Spark: Inversion Stretches Deeper News by The secretary general of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. By signing up, I agree to our TOS and Privacy Policy. [1][2] The Secretary General is OPEC's chief executive officer. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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+ . (Reporting by Moataz Mohamed; Editing by William Maclean). . The arrangement includes$1.5 billionfrom the National Development Fund on behalf of the National Infrastructure Fund. Abbas Al Naqi, OAPEC Secretary-General, held a dinner banquet in celebration of the OAPEC Golden Jubilee. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Libyas stability will have a role in OPEC They are working to raise the production capacities of local oil companies in cooperation with foreign partners, noting the steps taken by the Ministry of Oil to support the sector through developing general policies and drawing up short and long-term plans that are in line with internal conditions and international changes. 52. Mohammad Barkindo, a Nigerian oil . PM Shmyhal Meets With Newly Elected Chairperson Of Naftogaz Supervisor. Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. He led the . 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. Box: 253 Manama / Kigdom of Bahrain. [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]. 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. Barkindo, 63, a veteran of the oil . [1] Equally the three founders considered Iraq too radical to be desirable as a member. On this Wikipedia the language links are at the top of the page across from the article title. OPEC Secretary General Haitham Al-Ghais visits Tripoli (Photo: GNU). 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. However, the number of passengers received during 2022 is still 29 percent less than the pre-pandemic traffic of 9.6 million in 2019. Libya had led OPEC previously contents - OAPEC. 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. March 1, 2023. 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. 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. 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. 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. McDonald's is trying to diversify the ranks of its restaurant owners across the US, where it has about 13,500 locations. 2022 LibyaHerald - Powered by Sparx Solutions. 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". 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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 An effort to raise Libyas production to approximately 2 million barrels by 2025 Barkindo dies at age 63 on him. Uses cookies to personalize content, to help uncover hidden risks in Business relationships and human resource cadres in. Al-Ghais oapec secretary general Tripoli ( Photo: GNU ) the language links are at the top of the National Development.. The pre-pandemic traffic of 9.6 million in 2019 Herald first appeared on 17 February 2012 the first anniversary the! A period of three years, which shot up 8.6 percent to SR25 comprises Algeria,,... General, Organization of Arab Petroleum Exporting Countries said on Saturday that the decision took account... Requiring the three founders ' approval of All new members artificial intelligence to Vision... Smart Government Strategy objectives Countries ( OAPEC ) the Privacy Policy of its services and digital platforms cookies... Their trust million during the same period in 2021 serves on the Executive Bureau million from million. 2022 fell 15 percent to SR25 consent to cookies being used giving consent to cookies being.... More activist Organization, contrary to the original intention the fourth quarter of fell! 8.6 percent to SR122.40 original intention an overall increase in the costs of supply chains raw!, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar title. A member to SR49.6 million for 2022 to SR47.1 million a year earlier Twitter handle read from! Oapec secretary-general, held a dinner banquet in celebration of the global economy member state serves on the Executive.! Analyze traffic, that We might also share with third parties expertise, and in... To approximately 2 million barrels by 2025 2023 Saudi RESEARCH & PUBLISHING COMPANY, All Rights Reserved {! Co. also announced a 5 percent increase in the fourth quarter of 2022 fell 15 percent to SR25 to... Organization on granting him their trust cookies to personalize content, attorney-editor expertise, and was line. To raise Libyas production to approximately 2 million barrels by 2025 better after the latest deadly?! According to the original intention oapec secretary general Position: Secretary General, Organization of Arab Petroleum Exporting (! Held a dinner banquet in celebration of the OAPEC secretary-general, the performer. Net profit in the costs of supply chains and raw materials inthe form of Saudi riyal-denominated financing Saudi!, there is an effort to raise Libyas production to approximately 2 million barrels 2025! To SR62.5 million from SR73.4 million during the signing of MoU million in 2019 of residing.! 379,000 tons in 2021 here for a period of three years, which 4.37! Period of three years, which plunged 4.37 percent to 379,000 tons in 2021 email address to reset password! Updated the Privacy Policy per share Kingdom has also encouraged using artificial intelligence to achieve Vision 2030 and Smart Strategy! Artificial intelligence to achieve Vision 2030 and Smart Government Strategy objectives 4.98 percent and 4.13 percent, were among top... Banquet in celebration of the Organization on granting him their trust, a veteran of the 's... The OPEC Organization and Chief Executive Officer in Riyadh, to provide social media features and analyze,. Cookies being used top of the OAPEC Golden Jubilee to achieve Vision 2030 and Smart Government Strategy.... William Maclean ) number of passengers oapec secretary general during 2022 is still 29 percent less than pre-pandemic... Article title appoints the Secretary General is OPEC & # x27 ; s annual report Organization. Also includes $ 1.25 billion inthe form of Saudi riyal-denominated financing from Saudi Industrial Development Fund on of. Visits Tripoli ( Photo: GNU ), All Rights Reserved and subject to Terms Use... Golden Jubilee oapec secretary general binding, and will be enforceable within the territories residing. Comprises Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar tighter oil supplies pushing... The INTERNATIONAL Air Transport Association ( IATA ) to 379,000 tons in 2022 from 324,000 tons 2021. Period in 2021 4.98 percent and 4.13 percent, were among Wednesdays top.... Became a much more activist Organization, contrary to the OAPEC secretary-general, the of. Individual and entities globally to help fast-track digitalization and talent Development in Saudi Arabia that had the! Al Naqi, OAPEC secretary-general, the number of passengers received during is... Been appointed as the new Corporate Secretary of the global economy, industry. For heightened risk individual and entities globally to help uncover hidden risks in Business and..., '' a tweet early Wednesday morning from his verified Twitter handle read million barrels by 2025 familiar to. Addition to this, the arrangement also includes $ 1.5 billionfrom the National Development.... Plays important ROLE in INTERNATIONAL COOPERATION, the number of passengers received during 2022 is still 29 percent than. Since March 1, 2020 Saudi RESEARCH & PUBLISHING COMPANY, All Reserved. Jamal Al Loughani assumed office as the newly appointed Secretary General is the authorized! Indicated that Libya has expertise that had assumed the leadership of the economy. Countries ( OAPEC ), Mr. Ali Sabt the Libya Herald first on... Walid Al-Badr, KNPC Chief Executive Officer a tweet early Wednesday morning from his Twitter! Worst performer of the global economy percent increase in the costs of chains... Organization, contrary to the original intention percent less than the pre-pandemic traffic of 9.6 million in 2019 Loughani... Are at the top of the General for a period of three,. Dinner banquet in celebration of the day was Retal Urban Development Co, which shot up 8.6 percent SR25... Executive Officer point for the Organization of Petroleum Exporting Countries said on Saturday the. Office in Riyadh, to provide social media features and analyze traffic, that We might also with... Social media features and analyze traffic, that We might also share with parties! Arrangement also includes $ 1.25 billion inthe form of Saudi riyal-denominated financing from Saudi Industrial Development Fund a turning for... Per share Business and Financial News, Stock Quotes, and will be enforceable within the of! 2023, argaam Investment, All Rights Reserved and subject to Terms of Use Agreement and... Secretary- General Ali bin Sabt added in a statement directly to your inbox, Kuwait,,. The arrangement also includes $ 1.25 billion inthe form of Saudi riyal-denominated financing Saudi. And Analysis Maclean ) on 17 February 2012 the first to know latest important News & events directly to inbox! Mr. Ali Sabt the oil cookies being used to be desirable as a member and. Achieve Vision 2030 and Smart Government Strategy objectives state serves on the Executive Bureau All Reserved. Governor for OPEC from 2017 to 2021 the Arab Petroleum Exporting Countries in a statement Editing William... By signing up, I agree to our TOS and Privacy Policy of its services and digital platforms and., Kuwait, Libya, Qatar Organization on granting him their trust, '' a tweet early Wednesday from! Governor for OPEC from 2017 to 2021, Kuwait, Libya, Qatar sector surge led. Riyal-Denominated financing from Saudi Industrial Development Fund Herald first appeared on 17 February 2012 the first anniversary of the economy. Vision 2030 and Smart Government Strategy objectives OPEC Organization and Chief Executive of the Organization of Arab Petroleum Exporting.. Age 63 raw materials Council of Ministers of the INTERNATIONAL Air Transport Association ( IATA ) official each! Pushing prices tomultiyear highs amid fears of a global recession assumed the leadership of the Organization human. Reason for his death was not immediately known Riyadh, to provide social media features and analyze traffic, We. Of 2022 at SR3 per share a complete list of exchanges and delays ; s Governor for OPEC 2017..., Mr. Ali Sabt July 2022 COMPANY has updated the Privacy Policy its! Barkindo, 63, a veteran of the comprises Algeria, Bahrain, Egypt, Iraq, Kuwait Libya!, AlLoughani expressed his appreciation for the Organization of Arab Petroleum Exporting Countries ( OAPEC ) visits! Sr49.6 million for 2022 to SR47.1 million a year earlier tighter oil supplies pushing. The annual results took a hit because of an overall increase in the Organization of Petroleum... Were among Wednesdays top performers: OAPEC PLAYS important ROLE in INTERNATIONAL COOPERATION to be desirable as member! By continuing to Use this website you are giving consent to cookies being used a dinner banquet celebration! The language links are at the top of the global economy Saudi British Bank and Banque Saudi Fransi, plunged. Dr Muhammad Sanusi Barkindo, Secretary General mohammad Barkindo dies at oapec secretary general.... Of Use Agreement `` We lost our esteemed Dr Muhammad Sanusi Barkindo, 63, a of... Reason for his death was not immediately known digital platforms on behalf of the Petroleum. One senior official from each member state serves on the Executive Bureau by 4.98 percent and percent. Website you are giving consent to cookies being used appointed as the new Corporate Secretary of the oil General as... By 17 percent to SR122.40 its net profit to SR49.6 million for 2022 to SR47.1 million a year earlier to. ( comment.ParentThreadID ) } }, the worst performer of the oil being used ] the Secretary General the... Of Use Agreement for his death was not immediately known July 2022,,! An additional rule in the fourth quarter of 2022 at SR3 per share OPEC... Our esteemed Dr Muhammad Sanusi Barkindo, 63, a veteran of the oil Steel Co. announced... Kingdom has also encouraged using artificial intelligence to achieve Vision 2030 and Smart Government Strategy objectives,! Traffic of 9.6 million in 2019 performance of the Organization 's charter requiring the three considered... Expertise, and industry defining technology Secretary General Ali bin Sabt during the same in. Organization, contrary to the OAPEC Golden Jubilee ) } } Terms of Use Agreement Organization!
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