Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - APICORP backs forum on energy market outlook  Join our daily free Newsletter

MENAFN - Arab News - 10/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Energy industry leaders from the region converged on the second annual APICORP 2013 Symposium in Kuwait to discuss the outlook for oil and gas markets in the Middle East and North Africa (MENA) over the next few years.
Organized by the Arab Petroleum Investments Corporation (APICORP), the Multilateral Development Bank owned by the ten member nations of the Organization of Arab Petroleum Exporting Countries (OAPEC), the symposium discussed market trends and challenges faced by the industry against the background of ongoing political turmoil in parts of the region, the expanding global map of oil and gas resources, and the vulnerabilities created by the rapid growth of domestic energy markets. The government of Saudi Arabia owns a 17 percent stake in APICORP.
Ahmad bin Hamad Al-Nuaimi, chief executive and general manager of APICORP, said: "The APICORP 2013 Symposium was a perfect platform to discuss the global shifts taking place in energy supply and demand and the impact they are having on the region's oil and gas industries."
He added: "We believe Kuwait's ambitious plans to develop into the 'oil and gas capital of the world' has many potential synergies with APICORP's mandate and strategy, which is focused on supporting the development of the Arab hydrocarbon and petrochemical industries and promoting cooperation and economic integration in the regional industry."
The main speakers at the symposium addressed three critical themes - Oil markets and prices: Current trends and future outlook; Shale oil: Expected developments and their implications; and MENA natural gas: Growing shortfall and the issue of domestic pricing.
Roberto M. Sieber, chief economist and global head, market analysis at Hess Energy Trading Compan (HETCO), provided his medium-term outlook on the global oil market, with particular focus on the impact of the North American unconventional energy revolution on global oil supply and demand. He analyzed the gap between market expectations and reality in the past and shared his views on the economy, oil consumption, the price range for international oil and changes in the refining industry and their implications for trade flows.

Bassam Fattouh, director oil and Middle East program, Oxford Institute for Energy Studies, took the analysis of the US shale oil revolution a step further by assessing its implications for Middle East producers. He also provided insights on the drivers of the shale revolution and outlined two possible scenarios of its impact on oil supply dynamics and trade flows. Fattouh also discussed the impact of the US oil supply shock on the Middle East's key producers.
Hakim Darbouche, commercial adviser, OMV Exploration & Production, focused on the factors shaping domestic gas pricing policies in MENA. Driven in large part by artificially-low domestic prices, demand for natural gas in most countries of the region has grown faster than supply since the early 2000s, he said. The resulting gas deficit and pricing policy issues can no longer be ignored.
Darbouche argued that unless current prices are adjusted to reflect new regional gas market realities, the MENA region will increasingly become an import center rather than a major source of new supply.
This is the second year that APICORP is holding its symposium. The inaugural symposium held in Bahrain last year explored the impact of the shifting global economic environment and the changing political and energy landscape in MENA on the region's energy investment outlook.

 


Arab News




  MENA News Headlines
 Jun 30 2016 - Tennis: Roger Federer ends Willis' Wimbledon fairytaleMuscat Daily
(MENAFN - Muscat Daily) Marcus Willis'' Wimbledon fairytale came to an end against Roger Federer, but the British qualifier''s 6-0, 6-3, 6-4 defeat couldn''t ruin a day to remember for the new star ...

 Jun 30 2016 -  Tough love: psychology of Argentina's Messi relationshipMuscat Daily
(MENAFN - Muscat Daily) Like neurotic parents, Argentines swung from criticism to unconditional love for their star footballer Lionel Messi this week, providing the soccer-mad nation''s many ...

 Jun 30 2016 -  Cricket: Anil Kumble takes charge with eye on bowlersMuscat Daily
(MENAFN - Muscat Daily) Anil Kumble thinks a year - and 17 Test matches - is enough for India to make its mark on all three formats of cricket. Kumble''s one-year contract as coach of the national ...

 Jun 30 2016 - Golden age Hollywood starlet Olivia de Havilland turns 100Muscat Daily
(MENAFN - Muscat Daily) Paris- Screen legend Olivia de Havilland, who turns 100 on Friday, is the last surviving star from "Gone with the Wind" and one of the last great stars of ...

 Jun 30 2016 - Obama to campaign with Clinton, Trump shrinks gapMuscat Daily
(MENAFN - Muscat Daily) Washington- President Barack Obama will campaign with presumptive Democratic White House nominee Hillary Clinton for the first time next Tuesday, as a new poll shows a ...

 Jun 30 2016 - New York's Empire State Building to go dark for TurkeyMuscat Daily
(MENAFN - Muscat Daily) New York- New York''s famed Empire State Building will go dark on Wednesday in tribute to the 41 people killed and 239 wounded in a suicide attack at Istanbul''s main ...

 Jun 30 2016 -  Brazil has 'total confidence' in Olympics securityMuscat Daily
(MENAFN - Muscat Daily) Rio de Janeiro- Brazil has "total confidence" that it can ensure security for more than half a million tourists and athletes attending the Rio Olympics this August, ...

 Jun 30 2016 -  Eight killed as fire guts pharmacy in IndiaMuscat Daily
(MENAFN - Muscat Daily) Mumbai- Eight people were killed when a fire gutted a pharmacy in India''s financial capital Mumbai on Thursday, police said. One other person was seriously injured in the ...

 Jun 30 2016 -  Engine failure, errors by crew led to deadly Taipei crash: reportMuscat Daily
(MENAFN - Muscat Daily) Taipei - A plane crash in Taiwan that killed 43 people when a passenger jet plunged into a river was caused by engine failure and flight crew errors, a damning final ...

 Jun 30 2016 - NY entrepreneur swapping start-ups for charityMuscat Daily
(MENAFN - Muscat Daily) New York- After making millions before turning 40, a New York-based entrepreneur is dreaming of transforming charitable giving by bringing his start-up stardust and ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help