Women in Energy Conference Returns as Part of ADIPEC 2017
Advancing Career Opportunities for Science, Technology and Engineering Graduates
Abu Dhabi, UAE – 12 October 2017 – Women continue to take on bigger roles in the oil and gas industry, with a new generation of female professionals seeking careers in scientific or technical roles, say industry leaders scheduled to take part in the ADIPEC Women in Energy conference, in Abu Dhabi, in November.
Held as part of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), more than 200 delegates are expected to attend Women in Energy, offering a full day of discussions on strategies aimed at promoting diversity and inclusion within the global oil and gas industry.
While female professionals are increasingly well-represented in business management, or administration roles, a growing number are also seeking opportunities in technical fields.
“Women are dramatically under-represented in roles traditionally viewed as men’s work, such as science or engineering careers,” said Aida Araissi, Founder and CEO of the Bilateral US-Arab Chamber of Commerce. Araissi has worked extensively with oil and gas industry leaders, helping forge stronger business ties between the United States and Middle East.
“There are many young women studying and qualifying to work in these areas, and it is time to create more opportunities,” Araissi said. “We need to mentor women in achieving their potential, and ensuring that their contribution is visible to industry leaders and decision makers as they move forward in their careers.”
The Women in Energy conference will include a full day of sessions aimed at highlighting the contribution women are making in the industry, and how industry leaders, both men and women, can join hands to build a diverse and inclusive workspace for future generations. Panel discussions will feature women working at several international and local companies, including Petronas, Lukoil, Nova Chemicals and Tatweer Petroleum, sharing their knowledge and experience, and exploring strategies for promoting diversity across the board.
Research by the Boston Consulting Group, for the World Petroleum Council, has found that fewer than a fifth of oil and gas workers are female. The disparity is particularly acute in offshore and marine, refining, and petrochemicals, in which women hold just 15 per cent of entry-level technical and field positions. By comparison, female graduates hold half of entry-level office and business-support positions.
The Women in Energy programme includes a significant emphasis on scientific and technical careers. In a live on-stage interview, journalist Reem Abdellatif will speak to female executives from Baker Hughes, a GE Company, as well as Petroleum Development Oman, about ways to include more women in less conventional fields such as refining and petrochemicals, offshore and marine, among others. Other sessions include technical case study presentations where female industry leaders and project managers will discuss key developments about oil and gas projects they are working on.
“Educators have achieved great success in encouraging many more girls and young women to pursue studies in ‘STEM’ subjects – science, technology, engineering and mathematics – and female students perform notably well in many of these areas,” said Reem Abdellatif, the English-language editor-in-chief at financial news website Argaam.
“The challenge is to ensure there are suitable career paths for young female professionals as they graduate, and continuing development throughout their working lives. The Women in Energy conference can help oil and gas firms capitalise on the talent available to them.”
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 Monday 13 to Thursday 16 November 2017, with Women in Energy conference sessions taking place on Thursday 16 November.
– 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
T: +971 4 275 4100
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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