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KUNA quoted a statement from OAPEC saying that the conference, which will start on Tuesday, will highlight the factors affecting the performance of the downstream industry, strategies for improving the performance and optimizing the operation in downstream, and case studies and success stories of implementing performance improvement programs and maintaining operation excellence.
The chairperson of the meeting stressed that the OAPEC's objective is the cooperation of its member states in the various aspects of activities related to the petroleum industry, to serve the countries' best interests.
Shaikh Mohammed bin Khalifa expressed delight at participating in the annual meeting of OAPEC's Council of Ministers to discuss key topics related to cooperation among OAPEC member states, as well as ways to enhance cooperation among Arab countries in the fields of oil and gas.
OAPEC contributes an important role in the development of Arab petroleum industries in all its fields, and in the exchange of information and expertise, and has played a major role in establishing relations between oil producing countries and those consuming them./ End
Formed by a regional inter-governmental organisation, OAPEC was established in Beirut on January 9, 1968 by Kuwait, Libya and Saudi Arabia.
The official said the Organization has prepared a special study on the use of renewable power in the energy mix in the OAPEC countries, especially that the exploitation of renewable energy and the transfer of its own technology is a strategic choice that would diversified the consumed power mix.
According to Kuwait News Agency, or Kuna, the meeting will group representatives of the bureau member states and will be chaired by Hassan Al Rafeei of Iraq, the head of the Ministerial Council and the Executive Office, according to an OAPEC statement released on Thursday.
While during his meeting with the OAPEC Secretary General, al-Mekhlafi talked about the importance of propping up Yemen by the organization to attend activities and conferences organized by the OAPEC, which will contribute to the promotion of investment opportunities in the field of oil and gas in Yemen.
Oapec secretary-general Abbas Ali Naqi, delegations from the OAPEC's countries, guest speakers and experts from the oil and gas industry are attending.
"As a result, APICORP's performance has enabled it to deliver value to its OAPEC shareholders, with Net Asset Value per Share increasing from $1,707 in 2010 to $1,824 in 2011."
Abdullah Al-Ghamdi said the council approved amendments to a few articles of the Convention on Arab Shipbuilding and Repair Yards, drawn up by the Organization of Arab Petroleum Exporting Countries (OAPEC).
The Arab Petroleum Investments Corporation, APICORP, a multilateral bank owned by the ten member states of the Organisation of Arab Petroleum Exporting Countries (OAPEC), including Libya has a 15% stake, has announced record profits for the fourth quarter of 2011.
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