Resolutions of the 121st Meeting of the OPEC Conference

No 11/2002
Vienna, Austria
19 Oct 2002

The 121st Meeting of the Conference of the Organization of the Petroleum Exporting Countries, held in Osaka, Japan, on September 19, 2002, adopted the following Resolutions, which, in accordance with customary procedures, have been ratified by the Member Countries and are issued herewith:

Resolution No 121.395

The Conference,

having regard to the rules laid down in the Statute of the Organization, in particular Article 21; whereas in accordance with the provisions of Resolution 117.388, the term of office of the Governor for Saudi Arabia as Chairman of the Board of Governors expires on December 31, 2002;

appoints

Mr Said Bin Ahmed Al-Ghafly, the Governor for the United Arab Emirates, as Chairman of the Board of Governors for a period of one year from January 1, 2003; and

appoints

Dr Gloria Mirt Hernandez, Governor for Venezuela, as Alternate Chairman for the same period.

Resolution No 121.396

The Conference,

upon the recommendation of the Board of Governors

approves that the Secretariat withdraw an amount of €400,000 (four-hundred-thousand-Euros) from the Reserve Fund Account to cover the Budget deficit projected for the year 2002.

Resolution No 121.397

The Conference,

resolves

that the next Ordinary Meeting of the Conference shall be convened in Vienna, Austria, on March 11, 2003.

Done in Osaka, Japan, this 19th Day of September 2002.

Head of the Delegation of Algeria
Dr Chakib Khelil
Head of the Delegation of Indonesia
Dr Purnomo Yusgiantoro
Head of the Delegation of the Islamic Republic of Iran
Bijan Namdar Zangeneh
Head of the Delegation of Iraq
Saddam Z. Hasan
Head of the Delegation of Kuwait Ahmad F. Al-Ahmad Al-Sabah Head of the Delegation of the Socialist Peoples Libyan Arab Jamahiriya
Dr Abdulhafid Mahmoud Zlitni
Head of the Delegation of Nigeria
Dr Rilwanu Lukman
Head of the Delegation of Qatar
Abdullah Bin Hamad Al-Attiyah
Head of the Delegation of
Saudi Arabia
Ali I. Naimi
Head of the Delegation of
the United Arab Emirates
Obaid Bin Saif Al-Nasseri
Head of the Delegation of Venezuela
Rafael Ramirez