“The conference, to be held on March 8-9 2011, will pave the way for more similar gatherings in the Kingdom and will highlight the role of Saudi Arabia in supporting petrochemical industries,” said Ala bin Abdullah Naseef, chairman of the event’s organizing committee.

Naseef, who is the director of strategic planning and promotion of investments in the Royal Commission, said the conference is in line with the aspirations of the government under the leadership of Custodian of the Two Holy Mosques King Abdullah, Crown Prince Sultan, deputy premier and minister of defense and aviation, and Second Deputy Premier and Minister of Interior Prince Naif to boost the Kingdom’s development plans and shed light on its role as a catalyst to the growth of the world economy by attracting investments.

“The Kingdom’s membership of the G20 was a result of the wise economic policy of its leaders,” said Naseef, adding that the conference will be a landmark event and will open doors for downstream industries.

The petroleum industry is usually divided into three major components: Upstream, midstream and downstream. The downstream oil sector is a term commonly used to refer to the refining of crude oil, and the selling and distribution of natural gas and products derived from crude oil.