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Monday, April 22, 2024

Oil Minister opens key regional conference

Oil Minister opens key regional conference
Oil Minister opens key regional conference

(Manama) – Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa has opened (The Bottom of the Barrel Technology Conference Series) themed “The best solutions to raise the utilization level of petroleum waste”
The minister also opened the exhibition and met a large number of officials from different companies around the world.

The inaugural ceremony was attended by the CEOs of the national oil and gas companies and a number of affiliates of Gulf oil companies and global presence of experts and engineers and those interested in the various aspects of the oil industry from different countries of the world, to discuss the technological processors fuel oil remaining in the oil industry.

The event was organized by Euro Petroleum Consultants and Bahrain Petroleum Company (Bapco) in cooperation with the National Oil and Gas Authority (NOGA). There will be large support from the international oil companies in the Gulf and in the presence of a large number of experts and engineers and those interested in the various aspects of the oil industry from different countries of the world.

The minister in his speech expressed his sincere thanks and appreciation for the efforts and support from Bahrain’s government in providing the highest levels of support for such events and for supporting the ongoing sustainable development in the Kingdom of Bahrain led by His Majesty the King, in the areas of knowledge sharing, exchange of experiences and constructive participation in strengthening capacity and skills and raise the efficiency of the human element in this important sector and other relevant sectors. The minister said he was honored for choosing the Kingdom to host this event for the second instance, in regards to the good reputation enjoyed by the Kingdom of Bahrain at the international level in the conference and events industry specialized in this vital area.

The minister said that the oil refineries are looking for low-cost projects with high returns projects, such as removing bottlenecks and improving the infrastructure, production and competitive products.

The minister confirmed that these restrictions pose a challenge to the refineries, which requires planning for what action should be taken regarding the oil residues high in sulfuric content, which can no longer be combined in the fuel of the vessels, which need oil refineries to work quickly and take investment decisions on the treatment of the residual oil. In order to cope with increasingly stringent legislative and environmental regulations for this industry, looking forward to reaching solutions to make the remaining oil possible and economically-feasible and environmentally-friendly.

The minister pointed out that the refining industry is witnessing a qualitative shift in the world markets as a result of the recommendations of the International Convention for the Prevention of Pollution from Ships (MARPOL) to reduce the proportion of sulfur in fuel for ships, as well as continuing changes in energy demand and the growth of the world economy and the new challenges such as electric cars. He said that the marine fuel also witnesses rapid changes as a result of the decision of the International Maritime Organization (IMO) to reduce sulfur content in marine fuel used in open seas from 3.5% to 0.5%, and is expected to become effective in 2020. It will also highlight the legislative and environmental regulations and the most important investment decisions on the treatment of the residual oil. As well as the future aspirations to reach solutions to make the remaining oil possible and economically feasible and environmentally friendly. He also pointed out that the Kingdom has acceded to the International Convention to prepare for and respond to the cooperation in the field of environmental pollution (OPRC) in year 1990, according to the Decree Law No. (4) of year 2010. He stressed that it remains important to continue refining and petrochemical sectors work in finding solutions to the changing industrial landscape, through technology and innovation incentives with maintaining operational efficiency.

He concluded that the National Oil and Gas Authority (NOGA) qualitatively took interest in attracting conferences, exhibitions and events associated with hosting specialized oil events in the Kingdom of Bahrain, a vital part for regional gatherings in the oil sector in the Kingdom, which came a harmonious society with the strategy for the advancement of the oil sector in the Gulf Cooperation Council and the Middle East. Also within the strategic projects of the national oil and gas authority, it reflected the proactive role played by this sector in economic development witnessed by the Kingdom in the prosperous era of His Majesty King Hamad bin Isa Al Khalifa.

The conference sessions witnessed the accompanying exhibition on consecutive days, the participation of many oil research centers of the national oil companies in the Gulf and international region with active participation from a number of major international companies and its licensors (Licenser) in the area of catalytic materials and processes of the hydrogen treatment of oil residues and companies from the Gulf Cooperation Council member States represented in the Saudi Aramco and Bahrain Petroleum Company (Bapco) and other firms. Where these multiple sessions will review and discuss the experiences and expertise of the oil-refining industry, along with the recent developments in the technology of waste refining operations, as well as future projects, methods of emergency equipment of the refineries, and the developments of the global markets to meet the challenges facing the refineries for clean fuel, and the most important global experiences and options available for refining oil residue.

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