Quotes: US 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 Company (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
 Oct 2 2014 - HH the Emir Issues Decision on Al Ruwais PortQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al Thani issued Thursday Emiri decision no. 76 for 2014 Qatar Al Ruwais Port. The decision was regarding the allocation of the areas needed for the ...

 Oct 2 2014 - KOC Plans to Reach 3.5 bln Cubic Feet of Gas Production by 2030Qatar News Agency
(MENAFN - QNA) Deputy Chief Executive Officer (CEO) for gas exploration in the Kuwait Oil Company (KOC) Menahi Al-Enezi said the company has worked to implement a range of future projects to raise ...

 Oct 2 2014 - Qatar Stock Exchange Gains 72.35 PointsQatar News Agency
(MENAFN - QNA) Qatar Stock Exchange index gained 72.35 points (+0.53%) ahead of Eid Al Adha holidays when the bourse closed trading at 13,830.90 points here Thursday. The trading value increased to ...

 Oct 2 2014 - QSE Index Declines 44.07 Points This WeekQatar News Agency
(MENAFN - QNA) Qatar Stock Exchange index declined 44.07 points (-0.32%) this week when the bourse closed at 13,830.90 points Thursday. The trading value of QR 2,743,186,035.05 is an increase by ...

 Oct 2 2014 - Culture Minister heads to Paris to Attend Qatar Prix de l'Arc de TriompheQatar News Agency
(MENAFN - QNA) HE the Minister of Culture Arts and Heritage Dr. Hamad Abdulaziz Al-Kuwari, on Thursday headed to Paris to attend the Qatar Prix de l'Arc de Triomphe, which is witnessing Qatari ...

 Oct 2 2014 - Summary of Local News ReleasedWednesdayQatar News Agency
(MENAFN - QNA) A summary of local news released Wednesday by Qatar News Agency. - HH the Emir Sheikh Tamim bin Hamad Al-Thani sent Wednesday a cable of congratulations to President of the Republic ...

 Oct 2 2014 - Lebanese Minister: Setting Camps for Displaced Syrians in Lebanon out of DiscussionsQatar News Agency
(MENAFN - QNA) Lebanese Social Affairs Minister Rashid Derbas stressed on Thursday that the cabinet is destined to achieve solidarity and overcome disagreements. Derbas told (Voice of Lebanon) ...

 Oct 2 2014 - Egyptian Authorities Shutdown Rafah Border CrossingQatar News Agency
(MENAFN - QNA) The Egyptian authorities decided Thursday to shutdown Rafah border crossing between the Gaza Strip and Egypt. Rafah border crossing will be shut down as of Friday October 3rd until ...

 Oct 2 2014 - Fakeih: No MERS cases in MakkahArab News
(MENAFN - Arab News) No cases of the Middle East Respiratory Syndrome coronavirus (MERS-CoV) have been reported among pilgrims in Makkah said Acting Health Minister Adel Fakeih after inspecting ...

 Oct 2 2014 - Markaz 37th anniversary campaign starts in RiyadhArab News
(MENAFN - Arab News) The Jamia Markaz of Kerala which plays an important role in promoting Islamic education in the south Indian state of Kerala will celebrate its 37th anniversary on Dec. 18 to ...

more...


 






Google

Click to Apply

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help