UAE- ADIPEC to debate Changing Face of Petrodollar among its agenda 

(MENAFN - Khaleej Times) The "changing face of petrodollar" in the wake of the massive growth in the share of energy-related money in the global economy during the last four decades, will be a major subject of debate at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) scheduled to begin here on November 3.

Leading industry figure Keith Gordon of Petrofac will be the moderator for the panel discussion on "changing face of petrodollar" at ADIPEC while the Under Secretary of the Department of Planning and Economy, Abu Dhabi Mohammed Omar Abdullah and Dalton Garris of the Petroleum Institute will be the invited panellists.

"Oil and gas production sales generate $4 trillion in revenues annually. This money is used in a number of ways and they themselves create a significant impact on the petrodollars in circulation and on national economies," according to the experts associated with organising of ADIPEC.

"With the global oil production at 80 million B/D and the equivalent in gas production, the global circulation of energy-related money has been transformed over the last four decades. The emerging energy-consuming nations are increasing their proportion of petrodollar flow and this is leading to a paradigm shift in the associated financial world. Reflections of this new dynamics are clearly perceivable in the financial and capital markets," the experts said.

Petrodollars provided by the main consumer nations are reinvested in producing, exploring and developing hydrocarbon reserves by the exporting countries. This money simultaneously enables the exporting nations to develop their infrastructure and plays a key role in global financial markets.

The panel discussion is expected to explore these issues in depth and provide perspectives on the challenges created by these changing dynamic.

The conference is also scheduled to have a session on the "Peak oil debate" with the renowned experts like Christophe Ruehl of BP, Rick Vierbuchen of ExxonMobil, Waleed Al Mulhim of Saudi Aramco and Yoshikazu Kobayashi of the Institute for Energy Economics participating in it.

The session will take up the much-debated questions like whether the world has already reached the peak hydrocarbon production or when will it be reached. The discussions are expected to give an insight into the strategies to be adopted for achieving a correct balance between accelerating production in the short term and supporting production in the long run.