Organization
of Arab Petroleum Exporting Countries |
|
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 (Kingdom of Libya at that time) and the
Kingdom of Saudi Arabia. The three founding members chose the state of Kuwait
for the Organizations' domicile and headquarters
Recognizing
the role of Petroleum as a principal and basic source of its members' income,
OAPEC is concerned with the development and prosperity of the world petroleum
industry by fostering close and fruitful cooperation among its members
It is guided
by the belief in the importance of building an integrated petroleum industry as
a cornerstone for future economic integration amongst Arab countries and
contributes to the effective use of the resources of member countries through
sponsoring joint ventures.
Emerging Projects:
AMPTC Company
The agreement establishing AMPTC was signed on May 6, 1972. The activities of the company were defined as covering all operations related to the marine transportation of hydrocarbons.
Shareholder countries in AMPTC are Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, and the United Arab Emirates.
APICORP
- The agreement establishing APICORP was signed on 1974. APICORP was officially formed in AL Khobar City in Saudi Arabia, with all OAPEC member countries as shareholders.
ASRY
- The agreement establishing ASRY was signed in Kuwait 1973. The company was officially set up in Bahrain with the following countries as shareholders Bahrain, Iraq, Kuwait, Libya, Qatar, Saudi Arabic, and the United Arab Emirates
- The objectives of ASRY cover the building, repair and maintenance of all types of ships including tankers and other marine transport vessels that are related to the shipping of hydrocarbons the Company established a dry dock in Bahrain primarily to service and repair oil tankers. One of ASRY's more significant accomplishments was the adding two large floating docks and their related facilities. The availability of the three docks has provided ASRY with the flexibility to service large and medium-sized tankers and ships.
- The agreement establishing this company was signed on 1975. APSCO was formally founded in Tripoli, Libya, in January 1977 with all OAPEC member countries as shareholders.
- APTI was established in Baghdad, Iraq, in May 1978, to prepare instructors qualified to provide training in the many technical aspects of the oil industry, and to augment the administrative and technical personnel responsible for the different fields of the industry The other objectives of APTI include performing research and conducting studies related to the modern techniques of industrial organization, and the methodology and techniques of training and education, as well as the creation of a central information and documentation system.
