Gulf Petrochemicals Forum held in Muscat
The 18th Gulf Petrochemicals and Chemicals Association (GPCA) Forum commenced today at the Oman Convention and Exhibition Centre in Muscat.
Organised by OQ Group, the event highlights the latest developments and experiences in sustainability and innovation within the petrochemicals industry. It brings together approximately 2,600 participants from 43 countries and will continue over several days.
The forum's opening was presided over by Sheikh Dr Ali Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones. In his speech he stressed the importance of discussing the best approaches to preserving industries by integrating sustainability to enhance competitiveness. He noted the remarkable progress in the industry, transforming challenges into opportunities, particularly in areas such as food security and healthcare, driven by plastic industries. The industry has adeptly navigated changes in globalisation, product demands, and supply chain dynamics, he added.
Sheikh Dr Ali said that the industry is responsible for approximately 6% of carbon dioxide emissions and highlighted the potential of renewable energy to significantly reduce emissions. He added that green community initiatives aim to reduce carbon emissions by 1.5 million tonnes. Oman is on track to generate 30% of its electricity from renewable sources by 2030.
OQ Group showcased its efforts and experiences in digital transformation across its investments and operations. These initiatives aim to keep pace with global technological advancements, digitise operations in its plants, and implement digital projects critical for meeting the current needs of facilities and factories.
The Group emphasised sustainability as a core pillar of OQ’s strategic and investment decisions, focusing on initiatives to reduce carbon emissions, manage water resources, preserve biodiversity, mitigate climate change and protect natural resources.
He added that OQ and its subsidiaries are working towards achieving net-zero carbon neutrality by 2050 through strategic measures that include decarbonisation efforts, investments in alternative energy sources, energy intensity reduction plans, and integrated energy management systems to promote environmental and economic sustainability.
Key presentations included a talk on “Energy Transition, Energy Security, and the Economic Wars: The Impact of Global Uncertainty on the Petrochemical Industry.” The forum also featured leadership discussions on topics such as “Unveiling Geopolitics and Strategic Risk Management in a Changing World” and “Innovation as a Cornerstone of the Chemical Industry.”
The agenda includes a session titled “The Gulf States’ Vision for Achieving Growth, Efficiency, and Sustainability,” and a general session for CEOs to discuss accomplishments in the petrochemical sector and future plans for the next decade. Additional sessions will cover topics like “True Transformation and the Future Resilience of the Chemicals Industry,” and leadership dialogues focusing on “Sustainable Perspectives: A New Look at the Chemicals Industry Through the Lens of Sustainability” and “The Challenge of Feeding the World: Agricultural Nutrient Industries as a Solution.”
The forum also launched an interactive “Solution Exchange” platform designed for knowledge sharing and offering technological solutions and insights into challenges and opportunities shaping the future of the petrochemical industry.
On the sidelines of the forum, an exhibition featuring 110 companies from the region and around the world was inaugurated. The exhibition showcases petrochemical industries and their products.
The opening of the forum was attended by several GCC energy ministers, company heads and specialists interested in the petrochemical sector.