SALALAH: Media plays a vital role in shaping the future of the oil and natural gas industries through clarifying and promoting policies for experts and the masses, said a number of Kuwaiti officials on Wednesday. Speaking on the sidelines of the Fifth GCC Petroleum Media Forum held in Salalah city, Dhofar governorate in the Sultanate of Oman, Kuwait’s Oil Ministry Undersecretary Sheikh Nimr Fahad Al-Malek Al-Sabah told KUNA that the Forum aimed at spreading awareness on the importance of energy economy in the GCC and the world.

He added that the forum, held under the slogan “Petroleum Media for the Gulf Countries... Enabling Communication and Enhancing Understanding,” would help build bridges of cooperation between the Gulf region and the world. The Kuwaiti official noted that the forum focuses on the role of media in bolstering the oil and natural gas industries’ development, especially within the frame of boosting national economies.

He revealed that the forum included several functions to exchange expertise and dialogue amongst participants. Meanwhile, the Director of Public Relations and Petroleum Media at the Ministry of Oil, Sheikha Tamadhur Khaled Al-Ahmad Al-Jaber Al-Sabah, affirmed that media had a role in shaping public opinion, stressing that under the current circumstances, it was necessary to establish a deeper understanding of challenges facing GCC economies.

On the Forum, held every two years, the Kuwaiti official reiterated the media event was essential, creating a platform to exchange views and opinions amongst oil and media experts. Challenges of the oil industry would be highlighted during the event, she said, adding that energy transformation, decreasing emissions, and other prominent issues would be on the table of discussions. The Forum witnesses the participation of government officials, experts, media personnel, and several figures interested in the energy domain.

Director of Public Relations and Petroleum Media at the Ministry of Oil, Sheikha Tamadhur Khaled Al-Ahmad Al-Jaber Al-Sabah

Media plays pivotal role

Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Jamal Al-Loughani said Wednesday that media played a pivotal role in spreading and promoting petroleum culture in society. Al-Loughani explained that this forum would be a real opportunity to create a joint, multi-polar collective action that seeks to activate Arab and Gulf petroleum media in confronting media campaigns that create a negative image of fossil fuels.

Regarding future challenges facing the oil and gas industry, Kuwait’s Al-Loughani said that calls to abandon fossil fuels and move to renewable and sustainable energy would be one of the future challenges for Arab countries that depend on oil and gas as a primary source of their national income. Regarding the production of crude oil and natural gas, Al-Loughani said that the proven Arab countries’ reserves of crude oil reached about 726.5 billion barrels at the end of 2023, which is 54 percent of the proven global reserves estimated at about 1.335 billion barrels, noting that most of the Arab crude oil reserves are concentrated in the GCC countries, which account for more than 70 percent of it.

He added that Arab countries also have large reserves of natural gas estimated at about 56.7 trillion cubic meters by the end of 2023, which constitutes about 26.7 percent of the global reserve, and most of this reserve is concentrated in the GCC countries with 77.7 percent. Regarding the production of crude oil and natural gas, Al-Loughani indicated that Arab countries’ production of crude oil in 2023 amounted to about 23.8 million barrels per day, which constitutes 27 percent of global production, the largest part of which was accounted for by the countries with a share of about 70.6 percent.

He explained that the contribution of Arab countries to global oil production is relatively small compared to the size of their available reserves. He pointed out that Arab countries will play an important and major role in meeting the needs of oil-consuming countries, especially the Asian market, with the promising prospects for the refining and petrochemical industries in Arab countries.

He added that Arab countries will be strongly present in the global natural gas scene, as they are expected to contribute more to international trade in liquefied natural gas in the future after the completion of various projects currently being implemented, which contribute to raising the export capacity in many Arab gas-producing countries.

Al-Loughani said that Arab countries enjoy high capabilities of solar and wind energy resources that are still somewhat promising, explaining that renewable energy policies and investments have been developed in these countries in recent years. He pointed out the importance of this forum in enhancing effective communication and exchanging views, opinions, and experiences in confronting obstacles, in addition to enhancing cooperation between Arab countries. — KUNA