ADIPEC Programme Will Include Downstream Industry for the First Time
900 Speakers Scheduled for More Than 200 Technical and Strategic Conference Sessions
Abu Dhabi, UAE – 28 August 2017 – Organisers of the annual Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), hosted by ADNOC, have confirmed the event’s technical conference, already the world’s largest for oil and gas professionals, will see a significant increase in scope for 2017 to include the downstream industry for the first time, as well as more sessions for specialised areas including offshore and marine exploration and production.
With around 900 speakers scheduled for more than 200 sessions, the conference will bring together the industry’s most respected experts, global leaders and top decision makers, with around 10,000 delegates attending over the course of the event’s four days.
The expanded technical programme will encompass all layers of the industry, including upstream and midstream sessions organised by the Society of Petroleum Engineers (SPE), while dmg events, Global Energy, will oversee a new programme of downstream sessions. Organisers say the change reflects the accelerating search for efficiency and integration in a challenging market.
“The key to growth for oil and gas companies will be to find new ideas, and to share information in the pursuit of best practice,” said Ali Al Rawahi, Reservoir Manager - Studies (BUH/SE Asset), at the Abu Dhabi Company for Onshore Petroleum Operations Ltd. (ADCO), and ADIPEC 2017 Technical Conference Chairman.
“ADIPEC is clearly established as the leading platform for knowledge exchange in oil and gas. What the conference offers has never been more important than it is today. Resource owners are getting better prices for their product, but nobody can rely on further rises to ensure their business. The focus will continue to be on improving efficiency and reducing cost, which can only be achieved through sharing experience between companies and across borders.”
The expansion to include the downstream sector reflects one of the emerging industry trends in oil and gas, as upstream and midstream companies are increasingly looking towards integration, collaboration and diversification across refining and petrochemicals, processing, and end-product sales to boost overall profitability.
The ADIPEC Technical Conference programme received 3,060 abstract submissions for presentations at this year’s edition, a 10 per cent increase from last year, and for the second consecutive year setting a record for the number of submitted abstracts in the oil and gas industry.
Technical abstracts came from 622 organisations located in 70 countries. Underlining ADIPEC’s expanding international reach, 59 per cent of submissions were from outside the Middle East. The ADIPEC 2017 technical committee, comprised of 164 industry leading experts, selected 809 high-quality abstracts.
Conference sessions include exploration and production geoscience; production facilities technologies; field development; operational excellence; drilling and completion technology; health, safety and environment; projects engineering and management; gas technology; unconventional resources; improved and enhanced oil recovery; people and talent; and petroleum advanced analytics.
The 2017 edition of the ADIPEC Conference programme will feature two ministerial sessions, four global business leader sessions and four downstream global business leader sessions, eight panel sessions, three offshore plenary panels, nine C-suite dialogue sessions, three industry breakfasts and three topical luncheons.
A full-day Women in Energy programme will focus specifically on the opportunities for and achievements of women working in the oil and gas industry. The co-located Security in Energy conference returns for a second year, recognising the increasingly critical importance of cyber and infrastructure security within oil and gas operations.
“At ADIPEC we create one meeting place, in one city, for one global industry, and the conference programme represents that approach,” said Christopher Hudson, President – dmg events, Global Energy, which organises ADIPEC. “It is a complete platform for a complex global industry, where we create value for every layer of the most vertically integrated oil and gas business. With CEO-level support from the industry’s most influential corporations, ADIPEC is essential for sharing knowledge, driving innovation, and generating business.”
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 is one of the world’s leading oil and gas events, and the largest in Africa and the Middle East.
ADIPEC will be held at Abu Dhabi National Exhibition Centre from 13 to 16 November 2017.
- ENDS –
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:
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
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Mark Robinson (English): +971 (0)55 127 9764
Feras Hamzah (Arabic): +971 (0)50 798 4784
For more info: http://www.adipec.com/
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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
Headline crude prices for the week beginning 3 December 2018 – Brent: US$61/b; WTI: US$52/b
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