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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. 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. Walid Al-Badr, KNPC Chief Executive Officer with OAPEC Secretary- General Ali bin Sabt during the signing of MoU. He led the . 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. 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. The Organization of Arab Petroleum Exporting Countries (OAPEC) is a multi-governmental organisation established on January 9, 1968. . One senior official from each member state serves on the Executive Bureau. Brief remarks by OPEC Secretary General. Libyas exclusion from OPEC quotas OPEC Secretary General Haitham Al-Ghais visits Tripoli (Photo: GNU). 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 . oMoroccan Foreign Minister arrives in Bahrain. Mr. Abbas A. Al-Naqi Secretary General (OAPEC) Mr. Scott Foster, Director of Sustainable Energy Division, Barkindo, 63, a veteran of the oil . 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. . In this capacity, he administers the affairs of the Organization in accordance with the directions of the Board of Governors. Working to raise production 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 . See here for a complete list of exchanges and delays. 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. [citation needed], OAPEC was originally intended[by whom?] Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. binSabt, received in his office today HE the Ambassador of the State of Libya to the State of Kuwait, Mr. Suleiman Al-Sahili. 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. Links. Box: 253 Manama / Kigdom of Bahrain. 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. 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. 52. However, the number of passengers received during 2022 is still 29 percent less than the pre-pandemic traffic of 9.6 million in 2019. China to boost proactive fiscal policies, support . Political or religious commentary will not be tolerated. The embargo's after-effects would linger through the rest of the decade and beyond. 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 Burial arrangements will be announced shortly.". 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. 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. 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. 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. Can Turkiye build back its cities better after the latest deadly earthquakes? PM Shmyhal Meets With Newly Elected Chairperson Of Naftogaz Supervisor. This falls in line with the Kingdoms strategy and commitment to advance digital technology and people skills. 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. Our Standards: The Thomson Reuters Trust Principles. The decision took into account the uncertainty surrounding the performance of the global economy and was in line with the successful approach taken . 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.' 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. 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. 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 most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. (Reporting by Moataz Mohamed; Editing by William Maclean). 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. The Libyan Minister of Oil and Gas, Mohammed Oun, and the Head of Presidential Council Mohammed Menfi met with Al-Ghais, who Legal Disclaimer: MENAFN provides the information as is without warranty of any kind. Argaam.com Copyright 2023, Argaam Investment, All Rights Reserved, {{getCommenterName(comment.ParentThreadID)}}. 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. Libyas stability will have a role in OPEC 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 Mohammad Sanusi Barkindo, secretary general of the Organization of Petroleum Exporting Countries. Since taking the helm as secretary-general of OPEC in 2016, Barkindo oversaw tumultuous times for the oil producer group, which witnessed volatile markets rocked by historic events includingthe Covid-19 pandemic, the creation of the OPEC+ alliance with Russia and other non-OPEC states, and Russia's invasion of Ukraine. 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 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. "Our plan is to nurture Saudi talent as well as people from the wider region to fill most of the new roles created. This organizational exclusivity was bolstered by an additional rule in the organization's charter requiring the three founders' approval of all new members. Chemanols share price dipped 1.69 percent to SR24.46. By Trend. 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 total investment cost is funded by a combination of long-term debt and equity. OAPEC secretary general: OPEC+ decision to cut oil production correct, comes at right time, Japanese group Monstarlab launches new office in Riyadh, Bahrain airports passenger traffic spikes to 6.9m in 2022, TASI continues its ascent, rising 89 points to close at 10,192, Saudi NEOM Green Hydrogen Co. seals $8.5bn finance deals, NEOMpartners withCAREstodrive food innovation and talent development in Saudi Arabia, Coronavirus origins still a mystery 3 years into pandemic, Saudi Arabia reports 46 new COVID-19 cases, 2 deaths, Saudi Health Ministry launches child vaccination e-certificate, KSA reports 21 new COVID-19 cases, 2 deaths, Saudi crown prince attends launch of first 12 projects, worth $51.3 billion, under Shareek program, Annecy stuns favorites Marseille to reach 1st French Cup semifinals, Osasuna earn narrow advantage over Athletic in Copa del Rey semifinals, Man United down West Ham to reach FA Cup quarters as Spurs dumped out, Saudi leaders offer condolences to Greece over deadly train crash, Arsenal beats Everton 4-0, moves 5 points clear in EPL, Britains Prince Harry loses home on royal estate, WHO chief visits rebel-held Syria for first time after quake, For the love of youth: Warhol exhibition draws crowds in AlUla, OPEC+ oil supply cuts could tip world into recession, IEA says, Monstarlab furthers capabilities in Saudi Arabia through acquisition of Pioneers Consulting, Bahrains exports drop 8% to $941m in January: iGA data, Jordan, Bahrain sign deal to boost private sector cooperation, Closing Bell: TASI drops below significant 10k mark, loses 57 points, Closing bell: TASI topples for the third consecutive session; sheds 116 points, PIF-backed ACWA Power expands Indonesian portfolio with green hydrogen project, Discover NEOM Saudi Arabia tour event kicks off in Jeddah, Saudi Arabias NEOM an opportunity to redefine livability, deputy CEO tells World Economic Forum, US intel agencies: No sign foreign adversaries behind Havana syndrome, Internet access, privacy essential for freedom: Proton chief, Man wrongly imprisoned in the US for 38 years declared innocent, Robert Kennedys assassin denied parole again, Why West Bank violence between Israelis and Palestinians rages on despite US mediation, How Saudi Arabia could become a leader in carbon capture on the road to net-zero emissions. 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