Kuwaiti Oil Barrel Price71.29 Date:02-12-2021

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Ben Sabt: Positive results in the 160th meeting of the Executive Office of the Organization (OAPEC)

18-10-2021

Ben Sabt: Positive results at the 160th meeting of the OAPEC Executive Office Mr. Ali Sabt Bin Sabt, Secretary-General of OAPEC, stated that the Executive Office of OAPEC had held its 160th meeting in the State of Kuwait (via video communication technology), headed by Dr. Nasser bin Al-Hamidi Al-Dosari, representative of the Kingdom of Saudi Arabia in the Executive Office, which holds the presidency of the current session of the organization, and in the presence of members of the Executive Office of the organization, representatives of the member states of the organization. Bin Sabt added that the meeting discussed the estimated budget of OAPEC (the General Secretariat and the Judicial Authority) for the year 2022, and the meeting approved the draft budget in preparation for submitting it to the next meeting of the OAPEC Council of Ministers in December 2021. During the meeting, the most important work carried out by the General Secretariat during the third quarter of this year was reviewed, within the framework of the plan to activate and develop the activity of OAPEC. Ship Repair (ASRY), the Arab Petroleum Investments Company (APICORP), and the Arab Petroleum Services Company, indicating that the organization’s general secretariat will hold a coordination meeting in the presence of the Secretary-General and heads of Arab companies emanating from OAPEC next week in Cairo, Egypt, with the aim of Discussing ways to increase cooperation between these companies, and identifying the most prominent obstacles that these companies face in their work sites in the Arab countries. Ben Sabt pointed out that the meeting reviewed a report on the coordination meetings, seminars and workshops organized by the General Secretariat during the third quarter of 2021, including the 28th coordination meeting of environmental and climate change experts, and the ninth coordination meeting for officials of oil training institutes in member states in OAPEC, the coordinating meeting of the joint working committee between OAPEC and the Kuwait Institute for Scientific Research, a symposium on hydrogen and its role in the energy transition process, and other activities held by the organization's general secretariat. In addition, the meeting reviewed the efforts of the General Secretariat of the organization in increasing cooperation with international organizations and bodies specialized in energy, environment and sustainable development, as the organization participated in submitting working papers in many international events, especially in the issues of hydrogen and liquefied natural gas. Meetings were also held with the Oxford Institute for Energy Studies, during which they reviewed the current developments in the petroleum industry, and ways to increase cooperation between the two sides. As well as at the level of concerned Arab organizations, the most important of which are the League of Arab States and the Cooperation Council for the Arab States of the Gulf. The meeting was briefed on the preparations of the OIC General Secretariat to attend the activities of the 26th United Nations Conference of States Parties to the Climate Change Agreement “COP26”, which will be held in Glasgow, United Kingdom, where the next session of the conference will be held in light of important developments facing the global economy, especially the Corona pandemic, which It swept the world and affected industrial activity and the world entered a period of stagnation, especially the petroleum industry. The Executive Office thanked the Kingdom of Saudi Arabia for its efforts in the international negotiations on climate change through its leadership of the Arab Negotiating Team on Climate Change. As well as for its agreement to provide all facilities to organize some Arab events in its pavilion in the upcoming “COP26” conference. In this regard, the meeting blessed the Arab Republic of Egypt and the United Arab Emirates for hosting the upcoming Conferences of the Parties (COP 27) and (COP 28), respectively. He stressed the importance of the presence of Arab countries in these important international forums. Bin Sabt indicated that the organization's general secretariat briefed the meeting on the main features of the important study project currently being prepared by the organization on the outlook for the oil market in the post-Corona era, and this study comes within the framework of the organization's continuous follow-up to developments in energy markets. Bin Sabt explained that the meeting was briefed on the organization's efforts regarding coordinating petroleum media activities in the member states, which is carried out through media liaison officers in the member states. Media campaigns against the Arab petroleum industry. On the other hand, the meeting discussed OAPEC's preparations for holding the next Arab Energy Conference in 2023. The organization's visions regarding the development of the conference were reviewed, which is one of the oldest Arab petroleum conferences that is still ongoing.

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