Business | Oil & Gas
Asian oil and gas show urges Gulf to expand market
Participants in the Asian Oil and Gas Show, which concluded here on Saturday, have called on the Gulf countries to seize the historic opportunity given to them to expand their markets in the developing countries.
- WAM
- Published: 00:04 June 28, 2008
Seoul: Participants in the Asian Oil and Gas Show, which concluded here on Saturday, have called on the Gulf countries to seize the historic opportunity given to them to expand their markets in the developing countries.
Officials of 80 oil companies from 20 countries also recommended a substantial increase in the joint investments in the energy sector and for building more oil refineries.
Ventures
Concluding the three-day conference and exhibition at the Coex Convention Centre in South Korea, the oil industry experts from the Asia-Pacific, Middle East, Europe and the Americas, called on the oil-producing countries to enter into joint ventures with oil consuming states.
The developing countries, whose economies are growing fast, promise a fruitful and competent partnership, the conference suggested.
The was inaugurated by UAE Minister of Energy Mohammad Bin Dha'en Al Hamili and South Korea's knowledge economy minister Lee youn-ho on Wednesday, in the presence of UAE ambassador to South Korea Abdullah Mohammad Al Moenna.
In a statement, Abdul Salam Al Madani, President of Index Holding, the organiser of the show, said over 7,500 industrialists, ministers, decision makers, bankers, finance and investment experts from around the world visited the show and conference.
The event focused on global and regional needs and issues, as well as building a platform for opportunities and future developments in exploration, production, marketing, logistics, transportation, engineering, technologies, services, project management, finance and environment.
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