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Petrochem Arabia 2009 has the full support of the Federation of GCC Chambers, as well as other major local and international organizations and is being held under the high patronage of His Royal Highness.
This event brings government, Saudi and international private sector companies together to examine the current opportunities and challenges being faced in the Kingdom's petrochemical industry. It is the only conference focusing on petrochemicals in Saudi Arabia, the world's largest oil producer with over nine million barrels per day production.
Petro-Avec officials will be presenting the third party technical due diligence from two of the world's largest oil producers which has confirmed the viability of removing sulphur from oil allowing cleaner air and dramatic savings on both capital outlay and per barrel cost of processing.
Independent valuation models for royalty concessions to Petro-Avec range between $0.50 and $2.00 per barrel. Global oil consumption is now estimated at 85.8 million barrels per day and the amount of "sour" high sulphur oil is increasing rapidly making the Oxidative Desulphurization and Heavy Crude upgrade technologies of Petro-Avec even more valuable as no other current solution exists.
"We have today begun the exposure worldwide to show the value of the technology now that our worldwide patents have been granted to most major oil producing markets,"
states Samuel Higgins, Chairman of Avec and Managing Director of Petro-Avec.
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Posted by Siba Sami Ammari
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