OPPORTUNITIES FOR COLLABORATION
Industry professionals across the globe will descend in Muscat to attend World’s leading Heavy Oil Congress & Exhibition from September 3 to 5. The event will explore the theme “Transforming the Heavy Oil Value Chain.”
Heavy oil contributes approximately 15 per cent of Oman’s oil production. As heavy oil sector matures, opportunities for collaborations, innovation, and investment will also continue to advance and evolve. The WHOC is certain to provide an ideal platform for heavy oil professionals across the globe to gain the latest insights in heavy oil projects, investments, and technologies. During the past few months, Saudi Arabia, UAE and Oman have revealed plans to diversify their energy mix with renewables and reduce domestic consumption of fossil fuels.
Meanwhile, the outlook for 2018 and 2019 Middle East oil demand is still positive however, with risks skewed to the downside. Factors that may curb oil demand in the region during 2018 and 2019 include domestic petroleum product retail prices, fuel substitution, as well as developments in the economies of the region’s main oil consumers.
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