H.H. Sheikh Dr. Rashid Bin Hamad Al Sharqi, deputy chairman, Fujairah Oil Industry Zone, led an industry delegation from the UAE’s Emirate of Fujairah to a series of business conferences in London during the annual International Petroleum Week, taking place from 20 -23 February
His Highness Sheikh Dr. Rashid Bin Hamad Al Sharqi, deputy chairman, Fujairah Oil Industry Zone, led a delegation of Fujairah industry leaders to bolster the emirate’s arrival at the top table of global energy trading hubs. He was accompanied by His Highness Sheikh Sultan bin Saleh Al Sharqi, the Vice Chairman of the Fujairah National Group.
Dr. Salem Abdo Khalil, technical advisor, Government of Fujairah, delivered a keynote lecture at the Middle East Energy Summit hosted by the Energy Institute at its annual International Petroleum Week conference, where he briefed the 300 industry delegates on how national oil companies (NOCs) in the Gulf are finding their feet after decades of relying on the financial and technical expertise of international oil companies (IOCs).
“The current era of low oil prices and rising energy demand means NOCs are undergoing unprecedented change since their inception more than seventy years ago,” said Dr. Salem. “The energy industry in the Gulf that we know today will have a different face by this time next year, the ever-growing range of sophisticated infrastructure, storage, and trading facilities at the Fujairah Oil Industry Zone, Port of Fujairah and Fujairah Free Zone will play a crucial enabling Gulf-based NOCs, IOCs and service companies to diversify and expand their footprint at home and abroad,” Dr. Salem added.
A large majority (83 per cent) of respondents to a Gulf Intelligence Industry Survey in 2016 said that Fujairah is the region’s best spot to bolster the Middle East’s global trading presence.