Mohamed Arkab, Algeria’s Minister of State and Minister of Energy, Mines, and Renewable Energy, is set to attend the 113th meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) in Kuwait, scheduled for Sunday, December 15, 2024.
According to a statement from the Ministry of Energy, the upcoming session will cover a range of critical issues.
One of the key agenda items is the adoption of a ministerial decision on the development and restructuring of the organization’s activities.
The meeting will also focus on approving OAPEC’s budget for the year 2025.
The meeting will address reports from the organization’s General Secretariat, providing an update on global developments in the oil and gas sectors.
Additionally, the ministers will review various projects launched by the organization, particularly those aimed at strengthening internal IT systems and enhancing training programs for member states.
A significant portion of the discussion will revolve around specific initiatives, including the promotion of a circular carbon economy—a concept designed to reduce carbon emissions while maintaining economic growth.
Another focal point will be the Secretary-General’s report on the organization’s activities throughout 2024, with a proposal to increase the value of OAPEC’s Scientific Research Prize to further encourage innovation in the energy and oil sectors.
Established in 1968, OAPEC is a regional Arab organization created to foster cooperation among its member states in the petroleum industry.
The organization aims to safeguard the legitimate interests of its members both individually and collectively, while working to ensure fair and equitable access to global oil markets.
It also seeks to create a favorable environment for investment in the petroleum sector across member countries.
