Iranian Minister of Economy Ali Tayyebnia and Director-General of OPEC Fund for International Development (OFID) Suleiman J Al-Herbish discussed issues related to the oil cartel during a meeting in New York on Sunday. During the meeting held on the sidelines of the International Monetary Fund (IMF) and the World Bank (WB) 2013 annual meetings, the two officials discussed the OPEC-related issues and loan strategies of OFID. The OPEC Fund is a multilateral development finance institution established in 1976 by the OPEC member states. Its objective is to reinforce financial cooperation between OPEC member states and other developing countries, by providing financial support to the latter for their socio-economic development. OPEC was founded in Baghdad in September 1960 with the signing of an agreement by five countries, namely Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. They were to become the founding members of the organization. These countries were later joined by Qatar, Indonesia, Libya, the United Arab Emirates (UAE), Algeria, Nigeria, Ecuador, Gabon, and Angola. From December 1992 until October 2007, Ecuador suspended its membership. Gabon terminated its membership in 1995. Indonesia suspended its membership effective January 2009.
GMT 18:55 2018 Friday ,14 December
Libya’s National Oil against paying ‘ransom’ to reopen El Sharara fieldGMT 22:21 2018 Thursday ,13 December
Turkey starts building land part of Turkish Stream pipelineGMT 13:35 2018 Sunday ,09 December
OPEC+ deal to ensure stability of oil price, that is positive for RussiaGMT 14:30 2018 Friday ,07 December
Major oil producers haggle over production cutGMT 13:29 2018 Thursday ,06 December
Major oil exporters mull supply cut amid internal rifts, US demandsGMT 09:30 2018 Monday ,03 December
Qatar says it is withdrawing from OPEC on January 1GMT 21:01 2018 Sunday ,25 November
Oil prices plummet amid U.S. drilling rigs downGMT 17:32 2018 Friday ,16 November
OPEC Basket Price Stood, at over $65.2, on ThursdayMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor