Abu Dhabi, United Arab Emirates, April 28, 2011 --(PR.com
)-- Refinery and petrochemical integration is not just an option, but a necessity, says Bakhit Al Rashidi, Deputy Managing Director, Planning and Local Marketing, Kuwait National Petroleum Company (KNPC). The largest refiners in the region, including KNPC, will be part of the high-level industry line-up at the upcoming Middle East Downstream Week, taking place in Abu Dhabi from 8-11 May.
KNPC’s Dr. Al Rashidi says regarding integration: “Cyclic trends in refining margins and a thin band of margin operation for overall profitability make integration essential to even out the margin vagaries. All new refinery projects essentially incorporate integration with petrochemicals as much greater savings in investment cost and operating costs would result.”
Gas to assume more importance
With regards to the medium term outlook for the refining industry, Dr. Al Rashidi feels “gas development will assume more importance, especially since its availability (un-conventional) seems to be more widespread. Environmental concerns will also push for the gas maximisation option.” With regards to his long term view, he adds: “Oil as a power generation fuel source will continue its downward slide with gas effectively replacing oil and a good share of coal.”
Political turmoil in MENA region
The Middle East Downstream Week will have a special focus on the impact of the unrest in Libya and the region on the wider downstream industry from the perspective of NOCs, IOCs, petrochemical producers, refiners, fuels marketers and distributors in addition to independent oil and gas experts and technology leaders. According to KNPC’s Dr. Al Rashidi, the Libyan crisis has only a limited impact on sweet/light crude refiners and the impact is softened with Saudi Arabia’s production boost to compensate the deficit.
More international expert speakers at the Middle East Downstream Week include:
- Dr. Samir Elkareish, Director of Technical Affairs, Organization of Arab Petroleum Exporting Countries (OAPEC)
- Jasem Ali Al Sayegh, General Manager, Abu Dhabi Oil Refining Company (Takreer)
- Jean Jacques Mosconi, Senior Vice President, Strategy, Total
- Solomon Mirza, Vice President, Strategic Planning and Capital Allocation, Shell
- Norman Gilsdorf, President, Honeywell Process Solutions
- Nabeel Al Ruwaidhi, General Manager, Corporate Affairs, Business Development and Strategic Planning, Oman Oil Marketing Company Saog (OOMCO)
- Dr. Halim Hamid Redhwi, Assistant Supervisor, Dhahran Techno-Valley (DTV) and Professor, Chemical Engineering Department, King Fahd University of Petroleum and Minerals (KFUPM)
- Hamid Reza Seyed Jafari, Director of Corporate Planning, National Iranian Oil Refining and Distribution Company (NIORDC)
- Ali Mohammed Al Jaberi, Ruwais Refinery Division Manager, Abu Dhabi Oil Refining Company (Takreer)
Major operating companies attending the 2011 Middle East Downstream Week include: Saudi Aramco, SATORP, ADNOC, Takreer, ENOC, KNPC, Reliance, Sumitomo Chemical Asia, Total, Shell, BP, Oman Oil Marketing Company, Sabic and Aden Refinery Company among others.
- Axens Middle East Refining Seminar: 8 May 2011
- Downstream Integration Workshop: 8 May 2011
- Main Conference: 9-10 May 2011
- Middle East Fuels Symposium: 11 May 2011
- Site Visit: Takreer Ruwais Refinery: 11 May 2011
Event location: Beach Rotana Hotel and Towers, Abu Dhabi