OAPEC Discusses 2020 Draft Budget
Business
Asharq Alawsat
Oil ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) are set to come together in Kuwait on Sunday, focusing on how to prop up the body's activities. Kuwaiti Minister of Oil and Minister of Electricity and Water Khaled Al-Fadhel will lead his country's delegation partaking in the 103rd meeting of the Arab oil bloc, said an official statement cited by the state-owned Kuwait news agency, KUNA. The gathering, which will be chaired by Bahraini Oil Minister Sheikh Mohammad Al-Khalifa, will look into ways of promoting the organization's performance and activities and the Secretary-General's report on the work and studies of the organization's secretariat, the ministry added. The conferees will also consider and decide upon a set of recommendations sent by the agency's executive bureau, according to the statement. In a statement to KUNA, Secretary-General of the OAPEC Abbas Al-Naqi said the meeting covers and discusses activities related to the Kuwait-based Organization's work, as well as approves the draft budget for 2020. The Organization of Arab Petroleum Exporting Countries (OAPEC) is a regional inter-governmental organization established by an agreement signed in Beirut on January 9, 1968, by Kuwait, Libyan and Saudi Arabia. The three founding members chose the state of Kuwait for the Organizations' domicile and headquarters. In 1982, the membership of the Organization increased to eleven Arab oil-exporting countries namely: Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria, Tunisia, and the United Arab Emirates.
from Asharq AL-awsat https://aawsat.com/english/home/article/2047211/oapec-discusses-2020-draft-budget
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