Last Updated: August 21, 2017
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Four Strategic Global Business Leader Panels Will Feature Oil and Gas Industry’s Most Powerful Decision Makers

CEO Speakers Represent Multinational Oil Majors, National Oil Companies, Oilfield Services and Industry Finance


Abu Dhabi, UAE – 14 August 2017 – Delegates at this year’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) will have more opportunities than ever to hear some of the oil and gas industry’s most powerful executives speak in open-invite conference sessions, after organisers confirmed they will increase the number of Global Business Leader panels for 2017.

Held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, hosted by the Abu Dhabi National Oil Company (ADNOC), and organised by the Global Energy division of dmg events, ADIPEC has a successful history of attracting the industry’s top CEOs as speakers.

The separate Global Business Leader panels were launched in 2015 with two sessions. The positive response saw a third session added in 2016, and organisers will include a fourth panel discussion for 2017. With this year seeing ADIPEC expand to include downstream industries for the first time, an additional programme will include three Downstream Global Business Leader panels.

 “ADIPEC is unique for its ability to attract such a broad group of industry seniors to an annual event, driven by the market power of the region’s NOCs and their IOC partners,” said Ali Khalifa Al Shamsi, CEO, Al Yasat Petroleum Operations Co. Ltd and ADIPEC 2017 Chairman. “Nowhere else will industry professionals get such an insight into the strategic thinking guiding the industry forward, from individuals whose decisions are critical to the future of oil and gas businesses.”

With planning for ADIPEC entering its final weeks, organisers have confirmed the involvement of 13 CEOs for the Global Business Leader panels and are in talks with many more across the global industry. A further nine CEOs have been confirmed for the Downstream Global Business Leader programme.

Beyond the conference programme, CEOs convene at ADIPEC to do business and sign deals, offering conference delegates an opportunity not only to learn from the best, but also to grow their business and find new opportunities.

The confirmed CEO speakers include Bob Dudley, Group Chief Executive at UK-headquartered multinational, BP; Datuk Zulkiflee W. Ariffin, President and Group CEO of Malaysian national oil company, Petroliam Nasional Berhad (Petronas); Patrick Pouyanné, Chairman and CEO of France’s Total; Vagit Alekperov, President, Member of the Board of Directors, and Chairman of the Management Committee, at Russia’s Lukoil; Musabbeh Al Kaabi, CEO, Petroleum and Petrochemicals, Mubadala Investment Company; Mario Mehren, Chairman of the Board of Executive Directors, Wintershall; Toshiaki Kitamura, President and CEO at Japan’s INPEX Corporation; and Claudio Descalzi, CEO at Italian multinational, Eni.

Their individual perspectives include experience at some of the world’s largest vertically integrated oil and gas companies, including two of the industry ‘supermajors’, operating across a diverse range of international markets, both in terms of exploration and production, and in terms of sales.

They will be joined by the heads of three of the biggest international suppliers of oilfield services: David Dickson, President and Chief Executive Officer at McDermott; Mark McCollum, CEO at Weatherford, and Lorenzo Simonelli, President and CEO at Baker Hughes, a GE company.

Offering a regional perspective on oil and gas investment will be Mansour Al Mulla, Chief Financial Officer, Petroleum and Petrochemicals, Mubadala Investment Company, while Brian Gilvary, Group Chief Financial Officer at BP, will offer an international view.

“ADIPEC is the leading event for the global oil and gas industry, and that is reflected in the status of speakers we consistently attract for our conference programme,” said Christopher Hudson, President – Global Energy at dmg events. “The executives who have agreed to be part of our Global Business Leader panels are among those whose decisions shape the future of the industry, and who are most qualified to discuss the path forward for oil and gas in the coming years.”

With ADIPEC 2017 to be held under the theme ‘Forging Ties, Driving Growth’, the four Global Business Leader panels will focus on strategies that can deliver continuing business success, with discussion of the most pressing topics facing the sector today. There will also be a highly focused session on energy finance, investment, consolidation and diversification.

“The oil and gas industry continues to be a key driver for the global economy, but the market is changing, and industry leaders must respond,” said Hudson. “ADIPEC is a platform where businesses can share ideas that will help them evolve with the commercial environment. With our invited CEO speakers for 2017, we are placing greater emphasis on leaders with a truly global footprint. Their decisions will define the future for oil and gas: pioneering new ideas and breaking boundaries, fostering relationships, and building on momentum.”

More than 10,000 delegates, 2,200 exhibiting companies, 900 speakers, and in excess of 100,000 visitors, from 135 countries, are projected to gather in Abu Dhabi for ADIPEC 2017.

In its 20th edition, ADIPEC is firmly established as the world’s most influential oil and gas industry event, and the ADIPEC Conference Programme sets the standard for the exchange of best practice and operational excellence. Dedicated 2017 conference sessions include offshore and marine, women in energy and security in energy, along with global downstream technical sessions. The downstream sessions are new for this year, emphasising downstream expansion, diversification, integration, and technology innovation and R&D.

Other features include the ADIPEC Awards, which celebrate excellence in energy; Young ADIPEC, designed to encourage students to choose a career in energy; and the exclusive VIP programme briefings for members of the Middle East Petroleum Club.

ADIPEC will be held at Abu Dhabi National Exhibition Centre from 13 to 16 November 2017.


About ADIPEC

 Held under the patronage of the President of the United Arab Emirates, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, and organised by the Global Energy division of dmg events, ADIPEC is the global meeting point for oil and gas professionals. Standing as one of the world’s top energy events, and the largest in the Middle East and North Africa, ADIPEC is a knowledge-sharing platform that enables industry experts to exchange ideas and information that shape the future of the energy sector. The 19th edition of ADIPEC 2016 took place from 7-10 November at the Abu Dhabi National Exhibition Centre (ADNEC). ADIPEC 2016 was supported by the UAE Ministry of Energy, Masdar, the Abu Dhabi National Oil Company (ADNOC), the Abu Dhabi Chamber, and the Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi). dmg Global Energy is committed to helping the growing international energy community bridge gaps by bringing oil and gas professionals face to face with new technologies and business opportunities.


For media enquiries, please contact:

Nour Soliman

Senior Marketing Manager, DMG Events Global Energy

Twofour54, Park Rotana Offices, 6th Floor

PO Box 769256, Abu Dhabi, UAE

T: +971 (0)2 6970 515

Wallis 

[email protected]

T: +971 4 275 4100

Mark Robinson (English):  +971 (0)55 127 9764

Feras Hamzah (Arabic):     +971 (0)50 798 4784

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Permian’s Pipeline Lifeline

The Permian is in desperate need of pipelines. That much is true. There is so much shale liquids sloshing underneath the Permian formation in Texas and New Mexico, that even though it has already upended global crude market and turned the USA into the world’s largest crude producer, there is still so much of it trapped inland, unable to make the 800km journey to the Gulf Coast that would take them to the big wider world.

The stakes are high. Even though the US is poised to reach some 12 mmb/d of crude oil production next year – more than half of that coming from shale oil formations – it could be producing a lot more. This has already caused the Brent-WTI spread to widen to a constant US$10/b since mid-2018 – when the Permian’s pipeline bottlenecks first became critical – from an average of US$4/b prior to that. It is even more dramatic in the Permian itself, where crude is selling at a US$10-16/b discount to Houston WTI, with trends pointing to the spread going as wide as US$20/b soon. Estimates suggest that a record 3,722 wells were drilled in the Permian this year but never opened because the oil could not be brought to market. This is part of the reason why the US active rig count hasn’t increased as much as would have been expected when crude prices were trending towards US$80/b – there’s no point in drilling if you can’t sell.

Assistance is on the way. Between now and 2020, estimates suggest that some 2.6 mmb/d of pipeline capacity across several projects will come onstream, with an additional 1 mmb/d in the planning stages. Add this to the existing 3.1 mmb/d of takeaway capacity (and 300,000 b/d of local refining) and Permian shale oil output currently dammed away by a wall of fixed capacity could double in size when freed to make it to market.

And more pipelines keep getting announced. In the last two weeks, Jupiter Energy Group announced a 90-day open season seeking binding commitments for a planned 1 mmb/d, 1050km long Jupiter Pipeline – which could connect the Permian to all three of Texas’ deepwater ports, Houston, Corpus Christi and Brownsville. Plains All American is launching its 500,000 b/d Sunrise Pipeline, connecting the Permian to Cushing, Oklahoma. Wolf Midstream has also launched an open season, seeking interest for its 120,000 b/d Red Wolf Crude Connector branch, connecting to its existing terminal and infrastructure in Colorado City.

Current estimates suggest that Permian output numbered around 3.5 mmb/d in October. At maximum capacity, that’s still about 100,000 b/d of shale oil trapped inland. As planned pipelines come online over the next two years, that trickle could turn into a flood. Consider this. Even at the current maxing out of Permian infrastructure, the US is already on the cusp on 12 mmb/d crude production. By 2021, it could go as high as 15 mmb/d – crude prices, permitting, of course.

As recently reported in the WSJ; “For years, the companies behind the U.S. oil-and-gas boom, including Noble Energy Inc. and Whiting Petroleum Corp. have promised shareholders they have thousands of prospective wells they can drill profitably even at $40 a barrel. Some have even said they can generate returns on investment of 30%. But most shale drillers haven’t made much, if any, money at those prices. From 2012 to 2017, the 30 biggest shale producers lost more than $50 billion. Last year, when oil prices averaged about $50 a barrel, the group as a whole was barely in the black, with profits of about $1.7 billion, or roughly 1.3% of revenue, according to FactSet.”

The immense growth experienced in the Permian has consequences for the entire oil supply chain, from refining balances – shale oil is more suitable for lighter ends like gasoline, but the world is heading for a gasoline glut and is more interested in cracking gasoil for the IMO’s strict marine fuels sulphur levels coming up in 2020 – to geopolitics, by diminishing OPEC’s power and particularly Saudi Arabia’s role as a swing producer. For now, the walls keeping a Permian flood in are still standing. In two years, they won’t, with new pipeline infrastructure in place. And so the oil world has two years to prepare for the coming tsunami, but only if crude prices stay on course.

Recent Announced Permian Pipeline Projects

  • September 2018 – EPIC Midstream Holdings – 675,000 b/d, 1125km, 24-30’ diameter, 4Q19 target opening
  • November 2018, Wolf Midstream Partners – 500,000 b/d, 65km, 16’ diameter, 2H2019 target opening
  • November 2018, Jupiter Energy – 1 mmb/d, 1050km, 36’ diameter, 2020 target opening
  • December 2018, Plains All American Pipeline – 575,000 b/d, 830km, 26’ diameter, 3Q19 target opening
December, 04 2018
Your Weekly Update: 3 - 7 December 2018

Market Watch

Headline crude prices for the week beginning 3 December 2018 – Brent: US$61/b; WTI: US$52/b

  • After falling down to fresh lows last week – with WTI prices dipping below US$50/b at one point – crude oil prices improved after the G20 meeting in Buenos Aires, where the US and China agreed to a temporary truce over their trade war
  • While no concrete agreements over energy were announced at the G20 summit, the slightly thawing in trade tensions allowed crude benchmarks to rise slightly, assisted by an announcement by Canadian producers in Alberta that output would be cut by 325,000 b/d beginning January
  • Russia and Saudi Arabia agreed at the G20 summit to extend the OPEC+ deal into 2019, suggesting that a coordinated oil output cut was in the works, also supported prices ahead of OPEC’s meeting in Vienna this week
  • Not present at the OPEC meeting, however, will be Qatar, which quit the oil cartel in a surprise move; the tiny sultanate said it was quitting due to its small oil production, choosing instead to focus on its LNG industry, but the move can be seen as a response to the Saudi-led boycott of Qatar, calling into question Saudi Arabia’s ability to hold the fragile OPEC coalition together
  • Consensus among analysts point to OPEC+ agreeing to remove some 800,000 b/d of crude oil from the market beginning January, aimed at establishing a floor for oil prices at some US$65/b
  • The downward spiral of crude prices has put the brakes on US drilling activity, with 2 new oil rigs offset by the loss of 5 gas rigs last week; analysts are expecting shale explorers to cut spending budgets in 2019 in response to weak prices, raising spectres of the 2015 price slump
  • Crude price outlook: Ahead of the OPEC meeting on December 6, crude should be kept up by expectations of a renewed supply cut, with Brent likely to trade rangebound around US$61-63/b and WTI at US$52-53/b

Headlines of the week

Upstream

  • Buoyed by the prolific nature of the Permian Basin, Shell has announced plans to nearly double its production in the shale patch with AI-powered technology
  • China and the Philippines have set aside sovereignty issues, signing an agreement for joint exploration and development in the South China Sea
  • Facing severe pipeline bottlenecks, Canada’s Alberta province is looking to purchase rail cars to ship more crude oil by train out of the province towards the US, as a temporary measure while new pipeline are proposed and built
  • Shell has completed the sale of Shell E&P Ireland to Nephin Energy Holdings, which includes a 45% in the Corrib gas venture, for US$1.3 billion
  • In Norway, Shell also sold its interests in the Draugen and Gjøa fields for US$526 million to OKEA AS, but retains its interests in the Ormen Lange and Knarr fields, as well as the Troll, Valemon and Kvitebjørn projects
  • Petrobras has sold its stake in 34 onshore production fields to Brazilian firm 3R Petroleum for US$453.1 million, as well as stakes in three shallow-water offshore fields off Rio de Janeiro to Perenco for US$370 million
  • Pemex tripled its estimated reserves in the Ixachi field to 1.3 billion barrels of oil, calling it the ‘most important onshore field in 25 years’ and expecting peak production of 80,000 b/d of condensate and 720 mscf/d of gas by 2022

Downstream

  • Uganda has pushed back the opening of its first oil refinery to 2023, in line with estimates by Total, CNOOC and Tullow Oil, as crude oil production is now only expected to begin in 2021
  • Malaysia will be introducing a B10 biodiesel mandate in December over a phased rollout, with complete implementation expected by February 2018
  • Pertamina expects to begin works on upgrading its Balikpapan refinery in early 2019, aimed to increasing fuel standards to Euro V and upgrading capacity to process sour crude together with its current medium heavies
  • ExxonMobil plans to upgrade its Rotterdam refinery to expand Group II base stock production, following the installation of a new hydrocracker
  • The US EPA has increased its annual blending mandate for advanced biofuels by 15% and kept conventional biofuels blending requirement steady for 2019, while maintaining waivers for selected refineries

Natural Gas/LNG

  • Petronas and Vitol Asia have signed a long-term LNG supply agreement, with Petronas providing LNG from the LNG Canada project in Kitimat, providing up to 800,000 tons per annum for 15 years beginning 2024
  • Eni and Anadarko have been giving a 2023 deadline to submit key development plans for the Area 1 and 4 LNG complex in Mozambique
  • Tullow Oil is backing the attempt by three former Cove Energy executives in the Comoros Islands by taking stakes in Discover Exploration’s blocks, hoping to repeat the trio’s success in discovering the Rovuma block
  • South Korea’s Posco Daewoo has signed a deal with Brunei National Petroleum Company to jointly explore LNG opportunities in Brunei, with specific focus on the development of the Dehwa area operated by Posco Daewoo
  • Rosnedt and the Beijing Gas Group have set up a joint venture focusing on building and operating a network of up to 170 CNG fuel stations in Russia, using LNG as motor fuel
December, 06 2018
Overall Lubricants Market Is Growing In Bangladesh

The engine oil market has grown up around 10 to 12% in the last three years because of various reasons, mostly because of the rise of automobiles. 

According to the Bangladesh Road Transport Authority (BRTA), the number of registered petrol and diesel-powered vehicles is 3,663,189 units.

The number of automotive vehicles has increased by 2.5 times in the last eight years.

The demand for engine oils will rise keeping pace with the increasing automotive vehicles, with an expected 3% yearly growths.

Mostly, for this reason, the annual lubricant consumption raised over 14% growth for the last four years. Now its current demand is around 160 million tonnes.

The overall lubricants demand has increased also for the growth of the power sector, which has created a special market for industrial lubricants oil.

The lubricants oil market size for industries has doubled in the last five years due to the establishment of a number of power plants across the country.

The demand for industrial oil will continue to rise at least for the next 15 years, as the quick rental power plants need a huge quantity of lube oil to run.

The industries account for 30% of the total lubricant consumption; however, it is expected to take over 35% of the overall demand in the next 10 years.

Mobil is the market leader with 27% market share; however, market insiders say that around 70% market shares belong to various brands altogether, which is still undefined.

 It is already flooded with many global and local brands.

December, 01 2018