Global Energy Forum

  • Energizing Conversations on Oil at the Atlantic Council's Global Energy Forum in Abu Dhabi

    The Atlantic Council convened government, private sector, and academic experts to set the global energy agenda for 2019 at the Global Energy Forum in Abu Dhabi, United Arab Emirates, from January 11 to 13.

    The future of the oil market was frequently discussed as policy makers and experts attempted to parse the dramatic developments of the past year and provide some guidance for what 2019 holds. Here are the highlights from those conversations:


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  • OPEC Production Cuts Defended

    OPEC’s secretary general and its former president on January 13 defended the group’s decision to cut oil production by 1.2 million barrels per day from criticism that the cut is insufficient to address the slowdown in the market.

    The United Arab Emirates’ Minister of Energy and Industry Suhail Al Mazrouei, who concluded his term as president of the Organization of the Petroleum Exporting Countries (OPEC) on January 1, said there was no immediate need to cut oil production further.


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  • Can the US Shale Revolution Maintain Its Momentum?

    Although US shale production reached 11.7 million barrels per day in 2018, shale oil and natural gas experts caution that the days of rapid expansion for US shale could be numbered as concerns mount about global economic growth in the short-term, easy access shale sources are depleted, and capital markets decrease their investments.


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  • Atlantic Council Global Energy Forum 2019 Highlights the Geopolitics of the Energy Transformation

    Abu Dhabi – The third-annual Atlantic Council Global Energy Forum concluded today in Abu Dhabi. As part of Abu Dhabi Sustainability Week, the Forum convened regional and global policymakers and industry leaders to discuss the geopolitical and economic impact on the energy agenda.

    This year’s Forum focused on four major themes: the future of oil, the digitization of energy, diversification within energy companies and countries, and a regional focus on east and southeast Asia.

    H.E. Suhail Al Mazrouei, Minister of Energy and Industry, United Arab Emirates, opened the Global Energy Forum by welcoming participants and commenting on the 2019 energy agenda. Following the remarks made by H.E. Suhail Al Mazrouei, H.E. Dr. Sultan Ahmed Al Jaber, Minister of State, United Arab Emirates and Chief Executive Officer, Abu Dhabi National Oil Company addressed

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  • Taking Stock of Energy Security Risks in the Twenty-First Century

    Climate change, geopolitics, economic development, energy transitions and security of supply are just some of the challenges facing energy security in the twenty-first century.

     

    “It doesn’t take more than a glance at newspaper headlines to recognize that the current period is a time of great change and volatility,” said Richard L. Morningstar, founding chairman of the Atlantic Council’s Global Energy Center.

     


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  • Can China's Belt and Road Initiative Build Growth and Stay Green?

    China’s massive global energy and infrastructure investment is already paying off.

    Five years ago, “Pakistan was suffering from large amounts of brownouts [and] huge challenges in infrastructure,” according to Ali Siddiqui, an adviser with Pakistani financial services company JS Group and former ambassador of Pakistan to the United States. But after engaging closely with China’s Belt and Road Initiative “there is a large amount of investment that has been made in the power sector, in roads, and soon there will new investment from China in rail. Once that is done, our entire infrastructure shortage will be completed,” Siddiqui said.


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  • Taking the Carbon Out of Climate Change

    Decarbonization—the reduction or removal of carbon dioxide from energy sources—has become increasingly significant in light of the threat posed by global warming as illustrated in a United Nations report that looks at the dire consequences of an increase in the Earth’s temperature above 1.5 degrees Celsius.

    As a consequence, countries and companies around the world have undertaken a diverse set of strategies in their quest to cut emissions. Saudi energy giant Saudi Aramco, for example, decided in the 1970s to end the practice of flaring—the process by which natural gas is burned off in a controlled manner when extracting oil.


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  • Atlantic Council 2019 Global Energy Forum Day Two

    Atlantic Council 2019 Global Energy Forum

    An Update on Saudi Vision 2030 & the Oil Market

    Speaker: H.E. Khalid Al-Falih, Minister of Energy, Industry, and Mineral Resources, Kingdom of Saudi Arabia

    Moderator: Frederick Kempe, President and CEO, Atlantic Council

     

    Location:  Abu Dhabi, United Arab Emirates


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  • Saudi Minister Says Oil Market Volatility 'Unjustified'

    Khalid Al-Falih says he’s convinced ‘the oil market will quickly return to balance’

    On January 13, Saudi Arabia’s Minister of Energy, Industry, and Mineral Resources Khalid Al-Falih sought to assuage market concerns about potential oil demand as producers try to reverse massive dips in price at the end of 2018.

    “Market sentiment today is being shaped by undue concerns about demand, underestimation of the impact of agreed supply cuts, and a misreading of the supply-demand trends which causes counterfactual actions by financial players,” Al-Falih said. “In other words, if we look beyond the noise of weekly data and vibrations in the market, and the speculators’ herd-like behavior, I remain convinced that we are on the right track and that the oil market will quickly return to balance.”


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  • Nuclear Power Sparks Different Reactions

    Nuclear power evokes a broad spectrum of responses around the world. While the United Arab Emirates is building a nuclear power plant and Saudi Arabia has announced its intention to do so, in Japan—where the memories of the Fukushima plant disaster of 2011 are still fresh—there is a reluctance to embrace nuclear power, while Germany is implementing a plan to take all of its nuclear reactors offline by 2022.


    Emirates Nuclear Energy Corporation Chief Executive Officer Mohamed Al Hammadi and King Abdullah City for Atomic and Renewable Energy Chief Atomic Energy Officer Maher Al Odan say their nations are pursuing nuclear power with the objective of diversifying their energy sources.


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