Stock Photo - Jan. 01, 1968 - M. E. new oil policy group: The three biggest Arab oil - producing states ( Saudi Arabia, Kuwait and Libya ), last week signed a charter forming the Arab Petroleum Organisation ( APO ) to plan joint oil policy in the Middle East. The protocol, signed by oil ministers Ahmad Zaki Yamani of Saudi Arabia, Abdul Rahman Atiqi of Kuwait and Khalifa Musa of Libya. must be ratified by the three governments before it can go into effect. A statement issued after the signing of the agreement said that the organisation aimed at ensuring the cooperation of member states in all aspects of the oil industry and deciding how best to safeguard their individual and collective interests. The organisation will have its headquarters in Kuwait and will establish appropriate contacts with U.N. bodies and specialized agencies as well as other internatioinal organisations. The Saudi Minister of Petroleum told reporters after the signing that the new organisation would welco-e the membership of Iraq, Qutar and other Arab states considered petroleum producing and exporting states (which excludes the UAR from this organisation, although it was the first country to sponsor this idea, in order to use oil as a weapon in its political maneuvers.Photo shows : The protocol being signed by oil ministers (L to R). Ahmad Zaki Yamani, of Saudi Arabia, Abdul Rahman Atiqi of Kuwait, and Khalifa Musa of Libya, in Beirut, Lebanon. (Credit Image: © Keystone Press Agency/Keystone USA via ZUMAPRESS.com)