Global energy CEOs to meet in Abu Dhabi ahead of Adipec

Roundtable of 27 senior executives to discuss key issues facing sector

Adnoc chief executive Dr Sultan Al Jaber has instigated new business strategies for the state-owned oil giant. Antonie Robertson / The National

The chief executives of BP, Saudi Aramco, France’s Total, China’s CNPC, Exxon Mobil and Lukoil will be among a gathering of 27 of the world’s most senior energy company executives in Abu Dhabi on Sunday to discuss critical issues facing the industry.

The high-profile gathering is being held ahead of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) 2017, one of the world’s largest energy gatherings, which begins on Monday in the capital.

The global backdrop for the meeting includes the outlook for oil prices and the possible extension of production cuts. Crude oil prices have risen by more than a third about 35 per cent since hitting a low for the year in late June, amid signs that global supplies have tightened and that an Opec/non-Opec strategy to restrict output, first agreed in November 2016, is working to lift prices. It is expected that the production curbs will be extended this month to remain in place beyond their current expiry date of March 2018.

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The highly-anticipated IPO of a stake in Saudi Aramco, scheduled for next year, is another recent development for the sector, together with its potential impact on other national oil companies within the Arabian Gulf region.The rapid development of electric vehicles and the resultant impact on global oil demand  is also likely to feature during the meeting.

The roundtable discussion will be hosted by Dr Sultan Al Jaber, group chief executive of the Abu Dhabi National Oil Company and Minister of State in the UAE.

“Structural changes in supply and demand are reshaping the energy landscape and pushing the industry to re-imagine what the energy company of the future will look like. As the industry adapts to shifting market dynamics, fresh approaches to investment and market strategy are needed to remain resilient and thrive in the decades to come,” he said.

The full line up of the Abu Dhabi chief executive roundtable is as follows:

Dr Al Jaber of Adnoc, Amin Nasser of Saudi Aramco; Kurt Bock, chairman of BASF; Mark Garrett, chief executive of Borealis; Bob Dudley of BP; Chan Chauto, president of CEFC China; Pedro Miro Roig, chief executive of CEPSA; Wang Yilin, chairman of CNPC; Claudio Descalzi, chief executive of ENI; Darren Woods of Exxon Mobil; Hunter Hunt, president of Hunt Consolidated Energy; Sanjiv Singh, chief executive of Indian Oil Company; Toshiaki Kitamura, chief executive of Japan's Inpex; Yasushi Kimura, chairman of JXTG Holdings; Nizar Al Adsani, chief executive of KPC; Vagit Alekperov, president of Lukoil; Musabbeh Al Kaabi, chief executive of Petroleum and Petrochemicals at Mubadala Investment Company; Todd Karran, chief executive of Nova Chemicals; Rainer Seele, chief executive of OMV; Vicki Hollub chief executive of OXY; Antonio Costa Silva of Partex; José Antonio González Anaya; chief executive of Pemex; Tan Sri Wan Zulkiflee Wan Ariffin, chief executive of Petronas; Rovnag Ibrahim Abdullayev, president of Socar; Frank Ning, chairman of Sinochem; Eldar Saetre of Statoil; and Patrick Pouyanné of Total.