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Organization of Arab Petroleum Exporting Countries (OAPEC) is an inter-governmental association which is based in Kuwait and composed of nine member countries. The organization was established in 1968 and it works to coordinate and maximize the petroleum policies of its members with the objective of ensuring the jointly sustainable utilization of their petroleum resources.
OAPEC has an array of activities, most of them covering the areas of energy and natural resources. These activities include economic research for the Arab oil industry, economic cooperation between member countries and advice on energy-related issues. In addition, OAPEC facilitates interaction betweenenergy-producing countries, sources of investments and other international organizations.
The member states of OAPEC are Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia and the United Arab Emirates. These countries are amongst the largest oil-producing countries in the world. Together, they produce approximately 56.2% of the total crude oil production of the world.
The OAPEC is governed by an Executive Bureau composed of members representing each member country and a Secretary-General. The Secretary General is entrusted with the task of managing the organization’s affairs. The terms of reference of the Executive Bureau are to regulate and supervise the implementation of the organization’s collective decisions, and to ensure that the decisions of the organization are effectively implemented by the member states.
OAPEC has been active in the development and implementation of renewable energy initiatives through joint funding, technology transfer and capacity building programs. The organization also aims to promote regional and international cooperation in the fields of energy and environment.
In conclusion, the Organization of Arab Petroleum Exporting Countries is a powerful entity that seeks to coordinate and prioritize the interests of its member countries with an eye towards ensuring the long-term and sustainable utilization of the shared petroleum resources. OAPEC has been active in promoting renewable energy and advocating for measures that will reduce energy intensity, promote energy efficiency and deploy energy resources more efficiently in the region. Last but not least, the OAPEC serves as an important stepping stone for achieving a more secure, stable and sustainable energy future in the Arab region.
OAPEC has an array of activities, most of them covering the areas of energy and natural resources. These activities include economic research for the Arab oil industry, economic cooperation between member countries and advice on energy-related issues. In addition, OAPEC facilitates interaction betweenenergy-producing countries, sources of investments and other international organizations.
The member states of OAPEC are Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia and the United Arab Emirates. These countries are amongst the largest oil-producing countries in the world. Together, they produce approximately 56.2% of the total crude oil production of the world.
The OAPEC is governed by an Executive Bureau composed of members representing each member country and a Secretary-General. The Secretary General is entrusted with the task of managing the organization’s affairs. The terms of reference of the Executive Bureau are to regulate and supervise the implementation of the organization’s collective decisions, and to ensure that the decisions of the organization are effectively implemented by the member states.
OAPEC has been active in the development and implementation of renewable energy initiatives through joint funding, technology transfer and capacity building programs. The organization also aims to promote regional and international cooperation in the fields of energy and environment.
In conclusion, the Organization of Arab Petroleum Exporting Countries is a powerful entity that seeks to coordinate and prioritize the interests of its member countries with an eye towards ensuring the long-term and sustainable utilization of the shared petroleum resources. OAPEC has been active in promoting renewable energy and advocating for measures that will reduce energy intensity, promote energy efficiency and deploy energy resources more efficiently in the region. Last but not least, the OAPEC serves as an important stepping stone for achieving a more secure, stable and sustainable energy future in the Arab region.