According to the Manama news report, the petrochemicals industry in the GCCcountries has gone up by 11 percent over the last decade, saidBahraini Finance Minister in Charge of the Oil and Gas Affairs Sheikh Ahmad Bin Mohammad Al-Khalifa on Sunday.Hisremarks came in the opening of the 9th Middle East Refining and Petrochemicals Conference and Exhibition (Petrotech 2014) earlier today. He expected to attract more than 3,000 participants.
Due to the fact that Arabian Gulf is the largest reserves in the world, theminister accentuated the importance of the Arabian Gulf for the oil and gas industry.
The minister also reminded that the existence of the petrochemicals industry in Bahrain dates back to 1979 with the foundingof Gulf Petrochemical Industries Company (GPIC) as a joint venture with Kuwait, Bahrain, and Saudi Arabia. He appreciated the role of the conference to expand the new investment business opportunities in the Middle East and Bahrain.
This event is co-organized by Saudi Aramco and the Arabian Exhibition Management and is attended under the auspice of Bahraini Prime Minister PrinceKhalifa Bin Salman Al-Khalifa in conjunction with Allworld Exhibitions and the National Oil and Gas Authority.
Several companies from the Gulf, Bahrain, and the world are sponsoring the event. It brings together many international experts and engineers in the oil-refining and petrochemicals' industry.