|Reteid Resflet*21 Open Sources 9.7|
Thursday, 8. September 2005
Enlarge Your World! — OPEC Fund for International Development called for an international competition for the design of a Logo to replace the institution’s current Logo and Text. — Leading the Conversation of Energy:
The Organization of Petroleum Exporting Countries [OPEC] is a permanent, intergovernmental Organization, created at the Baghdad Conference in 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by eight other Members: Qatar ; Indonesia ; Socialist Peoples Libyan Arab Jamahiriya ; United Arab Emirates ; Algeria ; Nigeria ; Ecuador [1973 – 1992] and Gabon [1975 – 1994]. OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. Then it moved to Vienna, Austria, 1965. OPEC’s objective is to co-ordinate and unify petroleum policies amongst Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.
The OPEC Fund for International Development was conceived at the Conference of the Sovereigns and Heads of State of OPEC member countries, which was held in Algiers, Algeria, in March 1975. A Solemn Declaration of the Conference »reaffirmed the natural solidarity which unites OPEC countries with other developing countries in their struggle to overcome underdevelopment,« and called for measures to strengthen cooperation between these countries. The OPEC Fund aims at promoting cooperations between OPEC Fund Member States and other developing countries as an expression of South-South solidarity, helping particularly the poorer, low-income countries in their pursuit of social and economic advancement.
The OPEC Fund extends concessionary financing in the form of loans for development projects and programs and for balance of payment support. It provides grants in support of technical assistance, food aid, research and studies and for humanitarian emergency relief. The Fund also contributes to the resources of other development institutions whose work benefits developing countries. Furthermore, the Fund participates in the financing of private sector activities in developing countries.
Making the Difference. — Energy is a fundamental quantity that every physical system possesses. Energy is defined as the amount of work required to change the state of a physical system. In simple words: »Energy is change or the potential to change«, however, this leaves out many important examples of energy as it exists in the physical world.
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