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(Arabian Oil and Gas) -- The
Organization of Arab Petroleum Exporting Countries (OAPEC)’s director of
Technical Affairs, Dr. Samir Elkareish, says effective steps to avoid a future
oil crisis must be taken. Dr. Elkareish is one of dozens of high-level experts
who will address the Middle East Downstream Week in Abu Dhabi from 8-11 May,
where NOCs, IOCs, petrochemical producers, refiners, fuels marketers and
distributors in addition to independent oil and gas experts and technology
leaders will gather.
The global economic impact of the unrest in the MENA region, in
particular Libya, and the resultant rise in the oil price, is expected to be an
important point of the discussions at this event. Dr. Elkareish says the risk to
the global economy posed by sustained high oil prices is a factor that should
not be overlooked: “If tensions in the MENA region die down quickly and the
price of oil returns to pre-crisis levels, the global economic recovery will not
be affected dramatically. However, if these movements spread, and a collection
of countries see deep cuts in oil production, high oil prices could pose a real
danger to the global economy.”
The largest refiners in the region will attend the Middle East Downstream
Week in May where OAPEC’s Dr. Elkareish will specifically focus on clean fuels
regulations and Arab countries’ strategies to improve refined product
specifications, including current specifications of refined products in Arab
countries and the expected time schedule for meeting international clean fuels
standards. He will also address the main reasons why refiners in Arab countries
are not able to meet international clean fuel standards in addition to plans
already implemented for improving refined product specifications in Arab
refineries.
mrcplast.com
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