The Organization of Arab Petroleum Exporting Countries (OAPEC) Ministerial Council concluded its 89th meeting after taking a number of decisions.
The OAPEC approved its budget for 2013 which is valued at KWD 2.102 million and made Qatar supervise the Arab Oil Training Institute for another year.
Abbas Ali Al-Naqi, Secretary General of OAPEC, stated that the ministers reviewed activities of energy companies of OAPEC and their financial results for 2011 and the first half of 2012. The results and recommendations of the Coordination Meeting of the 41 companies of OAPEC which was held on October 2012 were also reviewed. The meeting discussed the possible methods for cooperation among these companies amid the current challenges facing the Arab and international oil industry.
The Chairman of the Ministerial Council thanked the Egyptian president Mohamed Morsi for the good reception they had and commended the country which facilitates holding the meeting.
