MANAMA: The GCC region which enjoys the largest oil reserves in the world also hosts the booming petrochemical industry which had witnessed a sustained growth of 11% over the past decade, according to the Minister Finance.
Finance Minister in Charge of the Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa who inaugurated on Sunday the 9th Middle East Refining & Petrochemicals Conference and Exhibition (Petrotech 2014) thanked His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa for patronising the event which attracted over 3000 delegates.
The event is being organised by Saudi Aramco and the Arabian Exhibition Management in conjunction with Allworld Exhibitions and the National Oil and Gas Authority. Companies from Bahrain, the Gulf and the world are sponsoring the event which brings together a large number of experts and engineers in the oil refining and petrochemical industry from around the world.
The Finance Minister in Charge of the Oil and Gas Affairs opened the conference, which is expected to attract more than 3000 participants, with a speech in which he expressed heartfelt gratitude to HRH the Prime Minister for his constant keenness to patronise the event since its inception 18 years ago.
He underscored the importance of the Arabian Gulf for the oil and gas industry, having some of
He also pointed out that development of the petrochemical industry in Bahrain goes back to 1979 with the establishment of the Gulf Petrochemical Industries Company (GPIC) as a joint venture between Bahrain, Saudi Arabia and Kuwait. He lauded the role of the conference as a platform to explore new investment opportunities in Bahrain and the Middle East.