Adipec to explore challenges faced by the energy industry on the cusp of change

The in-person event is the first major energy conference following Cop26 in Glasgow

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Global Big Oil executives and chiefs of national oil companies in the region will convene in Abu Dhabi to advance their upstream plans while they prepare for a world that is increasingly transitioning away from fossil fuels.

The Abu Dhabi International Petroleum Exhibition and Conference, which will run from November 15 to 18 at Abu Dhabi National Exhibition Centre, returns to its in-person format after a year and will address the energy industry under transition.

Adipec 2021 will also be the first major event following Cop26 and will be a critical bellwether for the fortunes of the energy industry in the midst of great change.

"Adipec 2021 returns at a crucial period for the energy industry as we take stock of the outcomes of Cop26 and explore how we can contribute to providing practical solutions to climate change while continuing to ensure stable, reliable and carbon-efficient energy supplies," said Dr Sultan Al Jaber, the UAE's minister of industry and advanced technology, as well as the group chief executive and managing director of Abu Dhabi National Oil Company.

This year's event will take place after the UAE, Saudi Arabia and Bahrain all committed to achieving a net-zero future by the middle of the century.

The commitments are in line with global efforts to limit the warming of the planet to below pre-industrial levels of 1.5°C and to rapidly accelerate the phase-out of polluting fuels such as coal from the global economy, in line with Paris Agreement targets.

"The UN’s Cop26 has shown the importance of bringing world leaders together to deal with a great challenge of our time. The conversation must now move to Adipec, where the industry will be able to explore putting adequate plans into action taking into account the realities of each continent," said Senegalese petroleum and energies minister Aissatou Sophie Gladima.

Adipec will feature high-profile speakers including energy ministers from the UAE, Saudi Arabia, Egypt, India and Russia. More than 160 ministers, chief executives along with over 800 technical experts from around the world will deliver 127 sessions during the trade show, the organisers said.

The conference will also feature economists such as Mohamed El Erian, who will address the changing dynamics in the energy industry.

Ministers from the Opec+ group of countries will also take the stage on day one to address how the exporters' bloc, which has been behind some historic cuts will adapt to the changing world.

Big Oil executives, who last year committed to net-zero targets to become holistic energy companies with smaller hydrocarbon portfolios, will also weigh their future amid higher energy prices.

The global oil industry has been reaping the benefits of buoyant oil prices, which have been trading at multi-year highs following the crunch in demand from Covid-19 last year. Economies have opened up and fuel demand from transportation is almost back to pre-pandemic levels, helping to boost their balance sheets.

The scope for the development of new fuels such as hydrogen, which is being promoted as a viable alternative to fossil fuels in decarbonising the global energy sector, will also be explored at this year's conference.

All participants attending Adipec are required to undergo PCR testing prior to attending the conference and exhibition.

Updated: November 15, 2021, 7:41 AM