Staff Writer
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and... More by Staff Writer
World National Oil Companies Congress, Abu Dhabi
Many leading figures from oil and gas industry speak in Abu Dhabi
SHARE
The chairman and MD of the Kuwait Oil Company, Sami Al-Rushaid told delegates that Kuwait was still fully committed to the upstream sector. He also said that the petrochemicals mega-project Al-Zour has not been cancelled and that tenders for the US$15 billion facility will be resubmitted.
Ali Obaid Al-Yabhouni, general manager, Abu Dhabi National Tanker Company (ADNATCO-NGSCO) and UAE governor for OPEC, called for greater cooperation between National Oil Companies (NOCs), especially those in GCC countries.
Philip Wolfe, global head of oil and gas for HSBC bank used the Congress to announce that a US$10 billion refinery project in South Africa is looking for strategic partners.
Round table discussions gave the delegates food for thought. Here the speakers discuss Dr Ghanem’s prediction regarding mergers between NOCs and supermajors.
The CEO of Royal Dutch Shell, Jeroen van der Veer, said that the hydrocarbons sector must keep investing in future supply as demand for energy is going to double by 2050.
Respected industry journalist Carola Hoyos chaired the morning session. Ms Hoyos made up for the reticent delegates’ lack of questions by posing some tough ones of her own during the panel discussions.
Chevron’s president of E&P for the Eurasia, Europe and Middle East, Guy Hollingsworth, spoke about the importance of joint ventures and partnerships between NOCs and IOCs.
View from the floor. Delegates appreciated the broad spectrum of speakers.