OAPEC coordinates stances of members on climate talks

OAPEC coordinates stances of members on climate talks

KUWAIT: The Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) convened its 109th meeting in Kuwait on Monday under the chairmanship of Syrian Minister of Oil and Mineral Resources Bassam Tohme. The ministerial meeting discussed the relationship between the OAPEC’s Secretariat and Arab companies affiliated to the organization, as well as the budget of FY 2023, OAPEC Secretary General Ali Sabt ben Sabt said.

The ministers mulled ways to enhance the organization’s role in training and coordinate the stances of member countries on climate talks as well as ensuing commitments, ben Sabt, of Kuwait, noted in a press release.

“They reviewed OAPEC’s ministerial resolution 107/4 mandating the executive bureau to coordinate with Saudi Arabia regarding the Middle East Green Initiative and the concept of carbon recycling-based economy. They also discussed the preparations for the 12th Arab Energy Conference, due in Qatar late next year, and progress in the development of the databank,” ben Sabt revealed. He thanked OAPEC member countries for the limitless support they offer to the secretariat of the organization, expressing hope for more prosperity to the oil industry.

Late Sunday, Kuwait Gulf Oil Company (KGOC), a subsidiary of the Kuwait Petroleum Corporation (KPC), signed a memorandum