• • • • UNION OF THE PETROLEUM EXPORTING STATES • • • •
• Welcome to the official page of the Union of the Petroleum Exporting States. The aim of our organization is simple. In accordance with the establishing Treaty, the mission of the Union of the Petroleum Exporting States (UPES) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.
• Union of the Petroleum Exporting States (UPES) is a permanent, intergovernmental organization, established during the meeting of Nowogard Conference "On the Global Petroleum Market" by the Republic of Valruzia, Republic of Dorvik, Republic of Kalopi-Siphina, Glorious Shahdom of Aldegar. During the Conference, Urszula Licheńska - the President of the Republic of Valruzia, Theodore Aswalt - the President of the Republic of Dorvik, Haşim Koç - the President of the Republic of Kalopi-Siphina, and Shirana I of the House of Vaez - Shahbanu of the Glorious Shahdom of Aldegar signed a treaty establishing the Union. Nowogard became the UPES' headquarters, but auxiliary HQs are present in the capital cities of each Member State.
• The Union is run in accordance with the principle of respect for the sovereignty of its Member States. UPES is an initiative aimed at securing interests of its member states, it is aimed also at stabilizing the situation on the Petroleum markets or unnecessary fluctuation of the petroleum prices which combined with a bad economic situation of a country may lead to a bigger economic crisis and damage the economy. UPES with its intergovernmental bodies is certainly not aimed at the creation of a supranational organization which would draw its authority from the sovereignty of its members. Its main aim is to secure the aforementioned sovereignty and allowing the country to secure its rights for external danger which would pose a threat to that sovereignty. All decisions of the UPES are made by the representatives of the members States.
• The UPES has three basic organs according to the Treaty on the Union of the Petroleum Exporting States:
- The Conference, - Board of Ministers, - The Secretariat
The Conference shall be the supreme authority of the Union and shall make an assessment on the admission of every new Member State.
The Conference shall consist of one representative from each Member State.
The Board of Ministers shall be the executive and legislative body of the Union.
The Board of Ministers shall consist of a representative of ministerial rank responsible for the energy sector in each Member Country.
The Secretariat shall be the representative body of the Union.