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Annual Report
and energy, in general, both at Arab and global levels, and how this reflected
on the economies of OAPEC member countries. It provides a clear view of
the different factors affecting the market, whether those relating to the market
fundamentals, such as supply/demand and oil inventory, or those playing a
major role in affecting the supplies, demand and prices, such as geopolitical
turmoil, and energy policies adopted by the industrialized nations.
Part 2 reviews OAPEC’s activities in 2012, covering the meetings of the
Council of Ministers, the Executive Bureau, the studies conducted by the
Organization, and the seminars, meetings and conferences in which OAPEC
participated, at Arab and global levels. This part also contains a review of the
achievements realized by OAPEC sponsored ventures, and their efforts to
overcome the implications of the events witnessed by the country in which
they have presence. It sheds light on the efforts made by sponsored ventures to
cope with the developments in the markets where they operate, thus realizing
good results.
In conclusion, we aspire that this Report will contribute to providing a clear
preview of the developments witnessed by the Arab and global petroleum
industry in all its circles and stages, and that it will provide the readers with
the data and information they need to broaden their knowledge of this vibrant
industry, keeping them abreast of OAPEC’s activities and objectives.
Abbas Ali Al-Naqi
Secretary General
