Oil Minister inaugurates Middle East Refining Technology Conference

Manama, Jan. 22 (BNA): Oil Minister Shaikh Mohammed bin Khalifa Al Khalifa, inaugurated today the Third Edition of the Middle East Refining Technology Conference (MERTC). The two-day conference was organised by the World Refining Association in cooperation and coordination with the National Oil and Gas Authority (NOGA) and with the support of a number of international oil companies and consultancy in the field of oil industry and refining, 450 participants from different countries of the world attended the opening. The minister expressed his gratitude to the government for its tireless efforts, positive and continuous support, and its keenness to provide the highest level of support and assistance to the oil and gas sector in Bahrain. Also, in hosting specialised oil events to support the national economy and sustainable development of the Kingdom. Shaikh Mohammed has valued the choice of the World Refining Association to for Bahrain to host the third edition of MERTC. The Kingdom has reserved its good reputation in the Middle East and the world in the conference industry and the convening of specialised events in this vital field, he noted. The minister said that the conference’s theme meets the desire of participants which more than 80% of them are engineers and technical disciplines, so the theme came to address issues and review of administrative, technical solutions, exchange of practical experiences, technological developments and possible solutions to develop the petroleum industries, discuss the current reality of the refining industry and review some examples of successful development projects in the world. Shaikh Mohammed stressed the need for more engineering solutions and advanced technology investment for various challenges in the refining industry as a result of population growth and increasing demand for energy, which requires further work to enhance cooperation between the refining industry and technology. The challenge for technology companies today is to devise creative solutions that will help oil refineries to improve their financial returns and enhance their operational efficiency, noting the need to balance the imbalance that the countries of the world are constantly facing in the price volatility. The current oil that has negatively impacted oil producing countries as well as employees and investors in the field of oil refineries. As well as the need to take advantage of available technological solutions to rationalise operational expenses in this vital sector. He noted the urgent need to find ways to improve the operational efficiency and quality of products, as well as to find innovative solutions and techniques for the increased use of heavy materials, where they are the key to achieve the best results in the refining sector in the Middle East and the world. The minister said that NOGA is working on the implementation of the general policies for the development of the oil sector in Bahrain in cooperation with its oil companies and in partnership with the private sector by implementing a number of vital oil projects in accordance with the strategic plans. He referred to a recent review to the project of modernisation of the Bahrain refinery, the new oil pipeline project that connects Bahrain and Saudi Arabia; and the liquefied natural gas harbour project, which is being developed in partnership with the private sector and the third gas plant project of the Bahrain National Gas Expansion Company (Expansion); and other important projects aimed at enhancing competitiveness. Shaikh Mohammed expressed his appreciation for the leadership for their support and assistance of the oil and gas sector in the kingdom, which has had positive results in ensuring the sustainability of local economic growth.