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The paper provides practical examples of certain existing and planned
joint ventures in downstream petroleum industries in the member
countries, reflecting the efforts of both parties towards achieving the
common objectives of cooperation.
The papers draw the following conclusions:
National and global companies can create different value-added
elements for partners, and realize a higher economic growth in the long
run for both parties through risk sharing, and equal shares of gains.
Global petroleum companies, owing to their distinctive and integrated
capacity, may contribute to adding value to national companies.
Successful joint ventures between national and global petroleum
companies are the outcome of focusing joint efforts of both parties on
realizing common interests in the long run.
1.4 Effects of Recent Political and Economic Events in Certain
Petroleum Exporting Countries on Arab Refining Industry
This paper was presented during the events of the 6th Annual Global
Refining Summit, held in Barcelona, Spain during the period 21-23 May
2012. The paper addresses the impact of political turmoil, which took place
in some Arab countries, on the oil prices and supplies, as well on Arab
refining industry. The paper refers to the reasons that motivated certain
economic analysts working in energy to believe that such conditions will
lead to oil price chaos in global markets. However, the findings of a study
conducted by OAPEC emphasizes that political unrest in certain Arab
countries will not affect the stability of oil prices and supplies to global
markets, for the following reasons:
The established cooperation and coordination relationship between
•
world oil producers and consumers motivates them to adopt all
possible measures to avoid supply interruption in global markets,
thus protecting the common interests of all parties.
