ID :
155693
Sun, 01/02/2011 - 13:20
Auther :
Shortlink :
https://www.oananews.org//node/155693
The shortlink copeid
Iran takes over OPEC presidency
TEHRAN, Jan. 2 (MNA) -- Iranian Oil Minster Masoud Mirkazemi officially taken over the presidency of the Organization of Petroleum-Exporting Countries (OPEC) for the first time in the past 36 years.
As OPEC's presidency is determined in alphabetical order, the member states highlighted in their October meeting that Iran's year-long tenure would start as of 2011.
An Iranian Oil Ministry official said that Iran is likely to host an OPEC meeting as the country which holds the organization's rotating presidency can invite oil ministers of the member states to meet there once.
OPEC is a permanent intergovernmental organization of 12 oil-exporting developing nations that includes Algeria, Angola, Ecuador, Iraq, Iran, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.
OPEC, which supplies 25 percent of global oil demand, coordinates and unifies the petroleum policies of its member countries.
OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its member countries.
The OPEC Secretariat is the executive body of the organization. Located in Vienna, it also functions as the Headquarters of the Organization, in accordance with the provisions of the OPEC Statute.
OPEC's formation by five oil-producing developing countries in Baghdad in September 1960 occurred at a time of transition in the international economic and political landscape, with extensive decolonization and the birth of many new independent states in the developing world.
As OPEC's presidency is determined in alphabetical order, the member states highlighted in their October meeting that Iran's year-long tenure would start as of 2011.
An Iranian Oil Ministry official said that Iran is likely to host an OPEC meeting as the country which holds the organization's rotating presidency can invite oil ministers of the member states to meet there once.
OPEC is a permanent intergovernmental organization of 12 oil-exporting developing nations that includes Algeria, Angola, Ecuador, Iraq, Iran, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.
OPEC, which supplies 25 percent of global oil demand, coordinates and unifies the petroleum policies of its member countries.
OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its member countries.
The OPEC Secretariat is the executive body of the organization. Located in Vienna, it also functions as the Headquarters of the Organization, in accordance with the provisions of the OPEC Statute.
OPEC's formation by five oil-producing developing countries in Baghdad in September 1960 occurred at a time of transition in the international economic and political landscape, with extensive decolonization and the birth of many new independent states in the developing world.
