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OAPEC Activities
Volume 41 Issue 10
11
signs in light of the emergence of a new
generation of mega refineries. On another note,
the shipbuilding industry of the oil tankers is
facing various challenges due to governmental
restrictions imposed by many countries.
Day 3: Tuesday 6 October 2015
The third day included two sessions. The
first was held at 9AM, chaired by Mr Abdul
Fattah Dandy, Director of the Economic
Affairs Department, OAPEC. It consisted of
two lectures:
Petroleum Projects Funding
MrKamelBuKhamseen
,
Deputy Director, Funding
Management Department,
APICORP,
presented
a paper titled
“The
Activity of Petroleum
Projects Funding”
. In his
paper, he presented current and
future prospects of the energy investments in
the Middle East. The lecturer indicated that
according to APICORP’s point of view, current
political developments in a number of Middle
Eastern countries and the fall of oil prices have
not affected the projected investments in the
region for 2019, which are estimated at about
$755 billion. They are the same investments
that have been projected back in 2009. He
pointed out that the size of investments has
dropped to its lowest rates in the countries
witnessing unstable political situation. 7 of
the biggest oil and gas producers have claimed
more than three quarters of investments.
The researcher then introduced the most
important challenges facing energy investments
in the Middle East, including the availability
of feedstock, like ethane and natural gas, for
the petrochemicals industry and the continuous
hike of energy consumption and petroleum
projects’ costs.
The lecturer clarified that there are necessary
and urgent investments need to be made in the
coming years to meet the increasing demand
for electrical power and petroleum products to
maintain current production rates and provide
investment opportunities to increase domestic
revenues and exports.
He indicated that the continuous drop of
petroleum prices on the medium run might
have a negative impact on the size of the
planned investments as there are many projects
that would be unfeasible in light of low or