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After that, OAPEC Secretary

General HE Abbas Ali Al Naqi


a speech pointing out that the

establishment of OAPEC stemmed

from its member countries’ belief

in the importance of cooperation in

making the most ideal exploitation

of their abundant oil resources in a

way that helps their economic and

social development to flourish.

He added “therefore, these

countries considered setting up an

independent Arab economic entity

that introduces potential areas of

petroleum cooperation among

member countries with a real

and objective vision in analysing

developments and challenges that

might face this industry whether

now or in the future.”

He explained that if we have a look at OAPEC

main goals, we can see that they come under

two areas:


working on encouraging the member

countries to coordinate and exchange expertise

amongst them in the field of industries and

petroleum research, in addition to, making

training opportunities available while resolving

any relevant problems.




and coordination, as well as, establishing

Arab petroleum joint ventures. OAPEC made

outstanding success by establishing a number

of successful affiliated- yet independent-

companies and Arab joint ventures; they are: the

Arab Maritime Petroleum Transport Company

(AMPTC), Arab Shipbuilding and Repair Yard

Company (ASRY), Arab Petroleum Investments

Corporation (APICORP), Arab Petroleum

Services Company (APSCO); in addition to the

Arab Petroleum Training Institute (APTI). This

has helped the geographical spreading of OAPEC

joint ventures across most of the Arab countries.

HE Al Naqi concluded by expressing thanks

and appreciation to the State of Kuwait for

hosting OAPEC’s headquarters, and to Egypt

for hosting OAPEC’s office in Cairo, and to all

member countries for their nonstop support. He

also thanked and hailed all former Secretaries

General, as well as, OAPEC current and former

staff for their efforts that contributed to

delivering the organisation’s mission.

HE Abbas Ali Al Naqi

OAPEC Secretary General

Al Naqi:

encouraging the member

countries to coordinate and exchange

expertise amongst them in the field of

petroleum industries and research.