MANAMA: The Federation of the GCC Chambers of Commerce and Industry in association with Bahrain Chamber of Commerce and Industry are organizing the first GCC conference on: "Investments in Oil, Gas and Petrochemicals during the World Financial Crisis", which will be held at Gulf Hotel, Bahrain, during Oct. 20-21.
The event, being held against the recent backdrop of collapsing global growth and depression in oil prices, will be organized under the aegis of Dr. Abdul Hussain Bin Ali Mirza, the Minister of Oil & Gas Affairs and the chairman of (NOGA).
Despite the fact that the region is experiencing economic turbulence following the highest oil prices of $147.27/bbl, the current downturn period needs to be fully utilized to invest in oil and gas, in order to prevent future price hikes.
The GCC Investment Conference is a call for a shared responsibility to develop a common awareness of the financial challenges facing the world today and especially the energy investment arena.
The concept of the conference revolves around;
• The prospects of Oil, Gas and Petrochemical Industries from 2010 to 2014.
• Highlighting the potential investment opportunities/challenges in the energy sector and particularly within the GCC region.
• Discuss the investment environment for the oil, gas and petrochemical sectors.
• GCC economic outlook and liquidity situation in the GCC and the prospects beyond the world financial crisis.
CAPIVEST, a Bahrain-based Islamic investment bank, will be a strategic partner to the conference. Nabil Mohammed Hadi, the CEO of CAPIVEST, noted that the bank is keen to support local and regional efforts to come up with constructive initiatives to face the global financial crisis.
Hadi said, "Investments in oil, gas, and petrochemicals sector were and will remain the backbone of the GCC economies."
Among the key speakers are Abbas Naqi, OAPEC's secretary general, Dr. Eion Turnbull, deputy chief executive for refining and marketing business in BAPCO, Ahmed Nuruddin, plants operation manager at GPIC, and Brain Cogan, the project director of Bahrain International Investment Park (BIIP).
Among the corporate participants, reputable banks such as Ithmaar Bank and BNP Paribas and hydrocarbon Investment companies in the region such as Arab Petroleum Investments Corporation (APICORP), Al Khorayef Petroleum Company, Saudi MASADER, Energetic Oil Services and Energy Capital Solutions Inc are also taking part in the conference. Specialized Oil, Gas and Petrochemicals consulting companies like KBC Markets and SRI Consulting will also be involved in this event.
For more information, please visit the official website www.gop-invest.com
