Feb 5, 2012. MANAMA:

Bahrain is set to host the 20th Middle East Petroleum and Gas Conference (MPGC) from May 6 to 8. It will be held under the patronage of Energy Minister and National Oil and Gas Authority (Noga) chairman Dr Abdulhussain Mirza. MPGC 2012, which is the longest running annual oil conference in the Middle East, returns to Bahrain to be hosted and sponsored by Noga and Bapco.

Themed "Middle East Oil and Gas: The Known Unknowns and the Unknown Unknowns", MPGC 2012 will examine the cross currents of fragile demand in the West and robust demand in the East, the role played by Opec in maintaining and checking market imbalances, shifts in refining economics and shutdowns and its impact on lighter crudes and narrowing the sweet-sour differentials.

The event will also provide a global perspective on the oil markets, developments in conventional and non-conventional oil production, the role of international oil corporations in Iraq, prospects for tight and sour gas, as well as challenges in accessing new investment opportunities in Middle East gas and the emergence of shale gas.

By bringing key players and decision makers from national oil corporations, regional companies and governments together, MPGC focuses on evolving political, economic, commercial and policy trends in the Middle East and World Markets.

This year's conference will be officially inaugurated by Dr Mirza. The opening will also feature keynote address by Saudi Aramco Products Trading president and chief executive officer (CEO) Said Al Hadrami, addressing the first ever marketing interface in the history of Saudi Aramco.

Also making presentations will be Mubadala Oil and Gas CEO Maurizio La Noce, Vitol Group of Companies president and CEO Ian Taylor, Atlantic Basin and greater Middle East of Shell International LNG Supply general manager Mehdi Chennoufi, Total general affairs Middle East vice-president Xavier Preel, UOP president and CEO Dr Rajeev Gautam and industry chief economists Christof Ruehl of BP and Dr Edgard Habib of Chevron.

"The oil markets in 2012 are facing tough challenges," FACTS Global Energy chairman Dr Fereidun Fesharaki said.

"Oil demand growth is subdued, non-Opec output growth gas escalated whilst refining margins have tightened.

"But geopolitical tensions in the Middle East are high. Economic forces put downward pressure and geopolitical forces put upward pressure on oil prices.

"Meanwhile LNG markets remain firm, buoyed by Japan import requirements and delays in Australian supplies. These interesting dynamics of the global oil and gas markets will be the highlight of our discussions at MPGC."

Held in conjunction with MPGC, the Annual Middle East Petroleum and Gas Week (MEOW), first launched in 1997, as an integrated umbrella of activities is an established platform for both knowledge sharing and networking for senior executives, policy makers, industry specialists and professional advisers.

"Bapco is very pleased to be able to host and sponsor MPGC once again," chief executive Gordon Smith said.

"Oil and gas sector is still the main contributor to the national economy of the Gulf region and this conference will discuss new challenges and opportunities in this vital sector.

"Bapco is committed to the kingdom's Economic Vision 2030 and the conference will serve as the perfect platform for promoting our vision to provide major investments in the country.

"Our support of the event reinforces our commitment to further develop the Middle East oil and gas industry."

MEOW 2012 will bring together five optional conferences, executive briefings, courses and technical workshops, running back to back in one location in one week.

Covering the global oil and gas markets, upstream, downstream and refining industries, and niche petroleum products, in turn every year, attendees and companies have the flexibility to choose and attend any one or more of these events, individually or in a group. MEOW 2012 events will be held from May 5 to 10.

By Gulf Daily News