The Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) began, Sunday, its 101st meeting, approving the organization’s budget for 2019. The meeting was presided over by UAE Minister of Energy Suhail Al-Mazroui.
OAPEC reviewed, during the meeting, a report by the Secretariat of the organization concerning global oil status quo. Ministers agreed to extend Iraq’s supervision over the Arab Petroleum Training Institute (APTI) and also approved Bahrain’s hosting of the upcoming council meeting on December 22.
The council’s meeting reviewed OAPEC eight technical and economic studies on oil, energy, the environment, and climate change, all conducted in 2018. The ministers were briefed on the 2017 and early 2018 activities of OAPECaffiliated Arab companies and the October meeting for the companies, which was held in Marrakech, Morocco.
Established in 1968, OAPEC is a Kuwait-based regional inter-governmental organization. The three main founders are Kuwait, Saudi Arabia and Libya. Meanwhile,The Audit Bureau inked on Sunday a cooperation pact with the Turkish Court of Accounts to swap expertise on advancing vocational skills in the sector. The bureau said in a statement that the agreement aims at exchanging information, documents related to professional activities, holding consultations, conducting joint research, audit operations and organizing seminars.
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