OAPEC council of ministers agree to 2019 budget in Kuwait meeting

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Audit Bureau inks accord with Turkey’s Court of Accounts

KUWAIT CITY, Dec 23, (KUNA): The Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) began Sunday its 101st meeting, approving the organization’s budget for 2019. The meeting was presided over by UAE Minister of Energy Suhail Al-Mazroui.

The current presidency of the organization is held by the UAE. Speaking to the meeting, Al-Marzoui thanked Kuwait for hosting the current event aimed at further bolstering cooperation amongst OAPEC members. The meeting also approved minute of the 100th meeting held in Kuwait on April 30, 2018 on the level of representatives.

OAPEC also reviewed during the meeting a report by the Secretariat of the organization concerning global oil status quo. Ministers agreed to extend Iraq’s supervision over the Arab Petroleum Training Institute (APTI) and also approved Bahrain’s hosting of the upcoming council meeting on December 22.

Climate
The council’s meeting reviewed OAPEC eight technical and economic studies on oil, energy, the environment, and climate change, all conducted in 2018. The ministers were briefed on the 2017 and early 2018 activities of OAPECaffiliated Arab companies and the October meeting for the companies, which was held in Marrakech, Morocco.

Established in 1968, OAPEC is a Kuwait-based regional inter-governmental organization. The three main founders are Kuwait, Saudi Arabia and Libya. Meanwhile,The Audit Bureau inked on Sunday a cooperation pact with the Turkish Court of Accounts to swap expertise on advancing vocational skills in the sector. The bureau said in a statement that the agreement aims at exchanging information, documents related to professional activities, holding consultations, conducting joint research, audit operations and organizing seminars.

The accord was inked as part of a current visit to the country by the Chief of the Turkish Court of Accounts, Seyit Ahmet Bas. The statement quoted Mohammad Al-Dosari, in charge of supervision of records about marketing and investment of the national oil companies at the bureau, as saying that the agreement stipulated expertise exchange, external auditing, training and improving staff professional criteria.

He indicated that discussions had been held between the Kuwaiti and Turkish auditors on cooperation within framework of the International Organisation of Supreme Audit Institutions (INTOSAI), in addition to the bureau auditors’ participation in activities, organized by the regional forum for higher audit authorities in south and central Asia. The agreement was signed by the acting chairman of Kuwait Audit Bureau, Adel Al-Saraawi, and justice Bas.

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