Conference Session: Global Energy Project
Decisions and reflections by the panellists of the Conference session “Global Energy Projects” can have a direct effect on the oil price. Join the first day of the ONS Conference for an In-depth analysis of the oil market and to meet top executives from some of the main producing oil companies.
The session “Global Energy Projects” presents large oil and gas projects in important oil and gas regions around the world.
Mohammed Y. Al Qahtani
Senior Vice President Upstream, Saudi Aramco
Saudi Aramco projects
Chief Oil Analyst, Energy Aspects
Oil market outlook
Scott D. Sheffield
Chairman and Chief Executive Officer, Pioneer Natural Resources
Senior Vice President Europe & Central Asia, Total E&P
Doing projects in Russia – Yamal LNG project
In-depth analysis of the oil market
According to Amrita Sen, Chief Oil Analyst of Energy Aspects, 2016 will be the year where the rebalancing process of the oil markets will start, although the path ahead will not be simple as demand growth slows.
She sees several reasons for this decline in demand growth, among these are:
- Pockets of weakness in Latin America, FSU and China
- The post recessionary bounce in the OECD fades
- Falling production in non-OPEC countries and some OPEC nations such as Iraq and Venezuela
- The return of Iranian crude oil and
- The lifting of the US crude export ban
“This all imply that we will see a year of significant price volatility for both crude and products, Mrs. Sen says to ONS.
Future supply gap
The collapse in oil prices that followed OPEC’s decision to not reduce output in November 2014 has created significant challenges for the industry.
“The result has been unprecedented cutbacks in activity and spending with, by our estimates, $200bn of capital having been taken out of the system since 2014. This will inevitably lead to a supply gap in the future which will pose new challenges for the market as price volatility increases”, Amrita Sen explains.
Global Energy Projects will be held during the afternoon sessions on Monday 29 August, between 15.00 – 17-15. You can choose between day passes or week passes for the ONS Conference.