Organization of Arab Petroleum Exporting Countries

The Organization of Arab Petroleum Exporting States, short OAPEC (of English. Organization of Arab Petroleum Exporting Countries ) today belong to 11 members. Among the members are the four countries with the largest oil stocks in the world Saudi Arabia, Iraq, Kuwait and the United Arab Emirates, as well as Egypt, Algeria, Bahrain, Qatar, Libya, Syria and Tunisia. Seat OAPEC is Kuwait City.

History

The OAPEC was established on January 9, 1968 in Beirut, founding members were: Kuwait, Libya and Saudi Arabia. The purpose of this merger was coordinator of the Arab oil industry and the creation of a counter block to OPEC, in which also non-Arab states, among others, Iran and Venezuela are members. The oil crisis in 1973, the OAPEC played a leading role. Already in the first days of the Yom Kippur War, met the oil minister of Arab States and decided to supply boycott against the West. The oil minister of Arab States ( OAPEC ), with the exception of Libya declared on 18 April 1974, the oil embargo against the United States ended. On December 31, 1974 Libya followed.

The OAPEC decided on 17 April 1979, the exclusion of Egypt from the organization, as the country agreed to a peace treaty with Israel.

Overall, the OAPEC controls about 50 percent of global oil reserves and is considered today an essentially technical organization for the intra -Arab cooperation in the oil and gas sector.

Members

  • Founding members in 1968: Kuwait, Libya and Saudi Arabia
  • Accession 1970: Algeria, Bahrain, Qatar and the UAE
  • Accession 1972, Iraq and Syria
  • Accession 1973 (excluding 1979) Egypt
  • Accession 1982: Tunisia ( membership suspended in 1986 )

Organs

  • Council of Ministers
  • Executive Office
  • Secretariat
  • Court of Arbitration

General Secretary: Abdulaziz A. Al - Turki

Arab people
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