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AOC
officials greet industry visitors during International Petroleum Week 2012
Top
figures from the energy industry, finance and government gathered in
IP
– or International Petroleum – Week, which draws more than 2,000
representatives each year, is hosted by The
Energy Institute (EI). On behalf of Saudi Aramco, Aramco
Overseas Co. (AOC) administers corporate membership of the Energy Institute,
also representing Saudi Aramco on the EI Technical Steering Committee.
With
its three days of conferences, IP Week, under the theme “New Frontiers, New
Future,” gave delegates an opportunity to network with potential clients and
service providers and to hear the thoughts of industry leaders. Daily
conferences focused on finance, upstream and downstream. There was also an
exhibition and three social functions. Speakers and panelists came from the
elite of the energy and financial industries around the globe.
As
part of the event, a customer networking reception was hosted by Saudi Petroleum
Overseas Ltd. (SPOL) on Feb. 21 at the Dorchester Hotel,
Attending
the reception were approximately 700 European crude, LPG and refined products
customers, as well as other senior industry peers, embassies, universities and
media companies. Host of the reception, Ali Al Ashban, managing director of SPOL
gave a welcome address to customers, followed by a viewing of the new Saudi
Aramco corporate video, “Energy to the World.”
Reflecting
on the event, Al Ashban noted that, “We were pleased to meet with the
Company’s European customers and industry leaders to exchange views of
developments in the oil industry.”
Another
event attended by company management was the Feb. 21 IP Week Lunch with guest of
honor and speaker Charles Hendry MP,
A
major feature of IP Week was a formal dinner on Feb. 22 at the historic
Grosvenor House Hotel. Billed as the largest such event in
Since
then, “We have been to new places,” he said. “We have found new supplies.
We have met demand. And the next generation will do the same. They will need to
– because the world is not standing still.”
He
reminded his audience that projections show world energy demand will increase by
as much as 40 percent by 2030. “That is like adding another
That
means a lot of work and a lot of opportunity lie ahead. Much of the world,
including the
“While
renewables are expanding faster than other energy sources, fossil fuels will
account for most of the world’s energy in the foreseeable future.” Among the
things the hydrocarbon industry must do is “win the trust of society,”
though “this has been the case as long as I have been in the industry,” he
added
That
trust was compromised after the Deepwater Horizon spill in the
Since
then, the company has endeavored to win back trust. “I think that we as an
industry also need to think urgently about how we can improve our overall
relationship with society,”
“It
is right that we should face scrutiny. It is right that we should face
regulation. But it is also right that we should explain our role robustly.”
AOC
managing director Nabil Aldabal spoke of his appreciation of the week’s
events, many of which he had attended. “I have greatly enjoyed my involvement
in IP Week, with a highlight being the dinner, which afforded an opportunity to
network with industry leaders and hear their views on the future of the energy
industry. This week has laid the foundations for future collaborations and the
establishment of valued relationships.”
The
Energy Institute (EI) is described on their website as “the professional body
for the energy sector, developing and disseminating knowledge, skills and good
practice towards a safer, more secure and sustainable energy system.” Further
information on the Institute and IP Week can be found on their website at http://www.energyinst.org.