“These are testing times in the oil and gas industry. Whilst short term measures are important, we keep our long term perspective and continue to believe that energy needs over the long term provide a positive context for Shell’s investment programmes today.”
Royal Dutch Shell chief executive Jeroen van der Veer describes Shell’s strategy to surviving the credit crunch.
“Over the next ten years, we expect roughly 60% of the world’s petrochemical growth to occur in Asia.”
Steve Pryor, president, ExxonMobil Chemical Company picks out the continent to watch for petrochemical growth.
“The days of oil as a primary fuel source for the people of the world are far from over.”
Saudi Arabian Minister of Petroleum Ali al-Naimi suggests non-renewables have a little bit more life in them yet.
“In projects with the government, there is no problem with the finance because payment is guaranteed. However, with the utility providers we have to ensure that the funding for projects is available.”
Tawfiq Abu Soud, executive director of infrastructure, water and power at Drake and Scull, discusses project funding following his firm’s listing on the Dubai Financial Market.
“Speculators tend to get out of the market every time the oil demand declines; slashing production by 4.2 million bpd has helped maintain the stability of oil prices and then improve them.”
Algerian Energy Minister Chakib Khalil reveals the plan behind stabilising oil prices.
“Abu Dhabi is the epicenter for solar power right now.”
Sami Khoreibi, CEO and president of Environmental Power Systems talks up Abu Dhabi’s renewable credentials.
Compiled by Peter Ward
