Bahrain to host forum on low oil prices impacts

Manama, May 28 (BNA): Bahrain will host on Tuesday a forum on decline in oil prices and its impact on GCC economies. Energy Minister Dr. Abdul Hussain bin Ali Mirza will patronise the forum, which is organised by the Al-Ahlia University in coordination with the National Oil and Gas Authority (NOGA). The minister said the forum embodies the support of the leadership to the energy sector, which is basic in the economies of Bahrain and the Gulf Cooperation Council (GCC), as well as its keenness on enhancing cooperation in the fields of energy and oil industries for the best interests of the national economy. He stressed that the current challenges caused by the sharp decline in oil prices require stepping up efforts of GCC officials and specialists to develop investments in such a vital sector, noting that the forum will tackle the impacts of the falling oil prices, and the short and long-term procedures to be taken by countries and oil companies. Dr. Mirza highlighted the interest of the government in the oil and gas sector within its vision that focuses on developing investment in the energy sector, using modern technology. The minister added the forum has attracted a number of academicians and experts, noting that there are 10 main speakers from the Al-Ahlia University, UK-based Brunel University and the Economic Development Board.