KUWAIT: The Arab Energy Organization continues its commitment to implementing the development plan swiftly. It plays a vital role in facilitating cooperation, sharing expertise, and addressing energy sector challenges across the Arab world. Kuwait, as the host country since the organization’s founding 57 years ago, remains central to these efforts, with the recent restructuring considered a historic milestone in the organization’s evolution. Here are some of the milestone’s in the organization’s history.
1968: Founding of OAPEC
On January 9, 1968, the Organization of Arab Petroleum Exporting Countries (OAPEC), now known as the Arab Energy Organization (AEO), was established following an agreement signed in Beirut by Saudi Arabia, Kuwait, and Libya. The aim was to create a specialized regional body to focus on petroleum and energy issues with an international perspective. Kuwait was selected to host the organization’s headquarters.
1970: Expansion of membership
In 1970, the UAE, Qatar, Bahrain, and Algeria joined OAPEC, marking the first expansion of the organization’s membership and strengthening its role as a key regional player in the petroleum sector.
1972-1982: Continued expansion
Between 1972 and 1982, the organization saw continued growth. Syria and Iraq became members in 1972, followed by Egypt in 1973 and Tunisia in 1982. However, Tunisia’s membership was suspended in 1986.
2022: Decision to restructure
In December 2022, OAPEC issued Decision No. 9/109, which called for a comprehensive review of the organization’s objectives, activities, and even its name. The decision was driven by the global shift toward renewable energy, environmental regulations, and the changing dynamics of the global energy market. The goal was to align the organization with technological advancements in energy production and the evolving energy landscape.
2024: Historic renaming
On December 15, 2024, during the 113th Ministerial Meeting in Kuwait, member states signed a historic agreement to restructure OAPEC, revise its founding agreement, and rename it the Arab Energy Organization (AEO). This marked the first phase of an ambitious development plan to modernize the organization, enabling it to better address challenges and enhance cooperation within the rapidly changing energy sector. The restructuring plan, proposed by Saudi Arabia, came after a thorough evaluation of the global energy landscape.