Monday, 28 November 2016

8th Arab-Austrian Economic Forum

8th Arab-Austrian Economic Forumon Oil and Gas

Oil Minister Libya

The Future of Fossil Energy

The fluctuation of the Oil price has a major impact on the economies of the oil exporting countries. It has a core influence on the Industry’s structure and thus affects international trade substantially.

In addition the use of various kinds of alternative renewable energies is on the rise, which also affects the demand on fossil energy.

The Arabic countries are not only a source of fossil energy, but also have great resources of sun and wind for renewable energies. In some countries huge projects are already planned, and there  still is a great potential for alternative technologies and innovations.

This forum aims to outline:

- challenges, developments and forecast of the future of fossil energy and to present innovative methods and technologies for boosting the related production profitability.
- the forecast for the alternative renewable energies and possible new resources.
- Challenges in the production and consumption of energy and electricity and related innovations as well as new technologies to optimize problems during peak hours of consumption.

Exhibition & Networking

Display of companies, enterprises and international institutions in various fields together with the diplomatic representations of Arab countries in Austria, allowing for special opportunities to meet with the business community and establish personal contacts.

NG attended the Exhibition and got great response for the emission saving device BE-Fuelsaver.