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Libyan Oil Output Can Be Replaced Elsewhere
MADRID, Mar 07, 2011 (AFP) - Libya's violent upheaval will not lead to a shortage of oil on the global market because its production can be made up for by increased output in other countries, a senior executive at Repsol, Spain's largest oil group, said Monday.
World oi prices shot up on Monday, striking a two-and-a-half-year high as Libya's uprising against the embattled regime of Moamer Kadhafi continued.
Investors worry that other bigger producers, such as Iran or Saudi Arabia, could be engulfed by similar chaos.
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Mena Region Construction estimated at $600 bn
Mena estimated $600 billion will be spent in the construction and infrastructure industries in the Mena region over the next three years, said the organizers of an upcoming infrastructure event in Abu Dhabi.
Organized by Clarion Events Middle East and SE Intermat, Intermat Middle East will be held from March 28 to 30 at the Abu Dhabi National Exhibitions Company (Adnec) centre and will be co-located with the Arabian Construction Week 2011.
Leading construction companies will showcase their latest innovative machines, while also highlighting solutions for recycling and waste management at the event.
S. B. Yun, Middle East regional manager, Hyundai Heavy Industries, said: "Hyundai's efforts to offer quality, environmentally friendly and durable products at economical prices, is most relevant when the construction industry is facing a tough time. We believe that this show will provide a good opportunity to reach this message to our customers."
The Mena region is concentrating on securing a green future. Governments all across the region have set building codes in compliance with eco-friendly directives to increase the performance of structures.
In addition, these directives will improve the physical environment, occupant productivity and life-cycle costs of the building as well as construction site safety.
Patrick Mansuy, CEO of Arcure, a world leader in video pedestrian detection technology and the developer of the recently unveiled Blaxtair safety system, said: "Blaxtair has been specifically developed to be integrated on building machinery for preventing collisions with pedestrians."
"These collisions always result in very serious injuries, often leading to death. GCC countries and, generally speaking, the Middle East region are carrying out huge building works, involving thousands of heavy machines and hundreds of thousands of workers working around."
"We are convinced that Blaxtair, by helping to save lives, could bring benefits to workers, to the building companies and finally to the global ecosystem. In this context, Intermat Middle East is the place to be to present this extraordinary new device to all," he added.
Government officials and policy makers within the Mena region recognize the significance of preserving the environment and are taking steps to mitigate the impact caused by the emissions of carbon dioxide.
Christopher Hudson, managing director, Clarion Events Middle East, said: "The Middle East is investing a significant amount of capital into the green building industry in recognition of future perils. Intermat Middle East provides an arena for developers and prominent personalities in the construction and infrastructure sectors to assemble with important construction companies and achieve exceptional levels of sustainability in the region."
Osama Bissada, general manager at global concrete solutions major Schwing Stetter, said: "Schwing Stetter established a Dubai branch office in 2008, and we look forward to participating at the Intermat Middle East exhibition so as to deepen our relationships with existing customers and develop new business opportunities in the region."
The Arabian Construction Week consists of three dedicated trade shows: Green Building Middle East for sustainable construction solutions, Future Build Middle East for innovative construction products, and Civil Engineering Middle East. - TradeArabia News Service
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