Egypt is hosting the 95th meeting of the Council of Ministers of the Organisation of Arab Petroleum Exporting Countries with the participation of 10 petroleum and energy ministers. The meeting will review Arab cooperation in petroleum, natural gas and petrochemical domains as well as reviewing OAPEC's budget proposal for 2016. OAPEC was founded on the basis of an agreement signed in Beirut, Lebanon, on 9th January, 1968 between Saudi Arabia, Kuwait and Libya. According to Article 13 of the OAPEC's statute, Kuwait is to head its next conference. In 1970 the United Arab Emirates, Qatar, Bahrain and Algeria joined the Organisation, followed by Syria and Iraq in 1972, Egypt in 1973, then Tunisia in 1982.