Minister of Oil attends founding meeting of Gulf Refining Union

Minister of Oil His Excellency Shaikh Mohammed bin Khalifa bin Ahmed Al Khalifa attended the founding meeting of the Gulf Refining Union in his office at the National Oil and Gas Authority (NOGA) on Thursday, August 11, 2016, with a number of senior officials and executives from the GCC oil companies. Those present at the meeting included Mr. Omar Saleh Bazuhair – Saudi Aramco, Mr. Bakheet Al Rashidi – Kuwait Petroleum International, Mr. Mohammad Mansoor Hamad Al Ajmi – Kuwait National Petroleum Company and Mr. Ebrahim Talib – Bahrain Petroleum Company (Bapco). Participating officials discussed ways to strengthen the GCC co-operation in the field of refining, facilitate communication and enable knowledge sharing between processing industries and enterprises and investment bodies. This they said would increase employee efficiency in the vital sector, contribute to the economic and social development of the GCC countries and enhance their global economic position in terms of oil growth.

H.E. Shaikh Mohammed congratulated the participants for the outstanding achievement of holding the inaugural meeting. He praised the commendable efforts made by the oil companies in the Gulf with the establishment of the refining union, which would help member states achieve their aspirations and strategic objectives in the field of refining, while strengthening the leaderships of the countries, expanding regional and worldwide networks in downstream industry. The Minister wished participants great success in their efforts to form a systematic and tangible union. He said Bahrain was keen on the successful establishment of such specialized entities in the country and was keen to provide all necessary assistance in realising the objectives of such non-profit institutions that serve to enhance cooperation and coordination among member countries as well as share views on the oil and gas market conditions, provide communication opportunities and information exchange and sharing expertise between oil and gas sector professionals in the future.

The founding members expressed their great appreciation to the wise leadership of the esteemed Government of Bahrain for approving the proposal to establish the Gulf Refining Union in the Kingdom. The approval came during the Cabinet meeting on July 11, 2016. They also thanked H.E. Shaikh Mohammed for his enthusiastic support and commitment for a Bahrain based Gul Refining Union, which had culminated in his formation. They said it helped further the aspirations of the oil sector to make the GCC refining industry lead globally. It also helped the industry develop further to achieve all strategic goals and plans pursued by the member states in the vital area.

Attendees discussed a number of important topics related to appointments to administrative positions, regulatory matters and protocols, as well as routine affairs related to the day to day functioning of the union. Participants emphasised the distinct role of the union role in attracting investments, exhibitions and conferences. They pointed out the fact that the union would encourage the establishment of more oil companies, oil service companies and training institutes in the region, and also lead to the introduction of many new specialized courses in various universities similar to international oil programs.

Members reviewed the various facilities provided by the Bahrain Government to assist the development initiatives of the union in accordance with the statute and other legal aspects in order to ensure smooth flow and participation. These would help strengthen the pillars of oil equation with international oil companies. The union would help the member countries participate in various strategic initiatives by facilitating the establishment of GCC delegations to represent the region’s refining industry at international conferences and exhibitions.