RIYADH: Members of the Organization of Arab Petroleum Exporting Countries (OAPEC) signed a resolution on Sunday to rename the organization to the Arab Energy Organization (AEO), the Saudi Press Agency reported.
Saudi Arabia had proposed renaming and restructuring the organization during the 113th ministerial meeting in Kuwait this week.
Saudi Arabia's proposal aimed to enhance OAPEC's charter and promote stronger cooperation among its members as part of a larger reconstruction initiative, the SPA added.
These changes will take effect once the 11 member Arab states of OAPEC ratify them according to their national regulations, the SPA also reported.
During the meeting, OAPEC's Secretariat-General pointed out challenges in the energy sector amid regional and international instability in the past years, which prompted the review and development of its activities.
OAPEC, headquartered in Kuwait, is currently led by Qatar.
In 1968, Saudi Arabia, Kuwait, and the former Kingdom of Libya were among the three founding countries of OAPEC in Beirut.
OAPEC members include the UAE, Bahrain, Iraq, Algeria, Syria, Tunisia, and Egypt.
