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On energy investment challenges, the forum highlighted the most important challenge,
that is, the availability of feedstock like ethane and natural gas for the petrochemicals
industry. Also, another challenge is the continuous increase in energy consumption
in some Arab countries, which makes it imperative to inject more investments to meet
the increasing domestic demand for energy, as well as, the continuously rising costs of
petroleum projects.
The forum explained that on the medium run the continuation of the decline of oil prices
might have negative impacts on the desired investments’ size, since many projects would lose
their feasibility in light of the falling or unstable oil prices from one side, while weakening
the petroleum exporting countries’ capabilities on funding their petroleum projects from the
other side.
On another note, the forum discussed current and future developments with regards to
the United Nations Framework Convention on Climate Change
(UNFCCC), in light of
expectations that a new law or protocol might be introduced to replace Kyoto Protocol once
endorsed by the parties during Paris COP21 to be held in December 2015. The forum has been
informed about OAPEC efforts to coordinate stances among Arab countries and international
Arab organizations specialized in energy in terms of environment and climate change issues,
and media campaigns targeting the oil and gas industry in OAPEC member countries.
In conclusion, by holding the 23
rd
Forum on the Fundamentals of Oil and Gas Industry,
OAPEC Secretariat General continues to spare no effort in informing its member countries
about the latest developments and technologies in all stages of the oil industry. OAPEC
is keen on organizing this forum on a regular basis to allow participants to broaden their
horizons about the oil and gas industry. The forum is also a good opportunity to build up closer
professional ties and contacts from the middle management of the petroleum companies at
OAPEC member countries.
On the occasion of organizing the 23
rd
Forum on the Fundamentals of Oil and Gas Industry,
OAPEC Secretariat General would like to express its sincere appreciation to all the member
countries that sent their participants to take part in the forum, and to all the lecturers and
trainees for their sincere efforts that contributed to the success of the forum.