- Opening Address by His Excellency Suhail Mohamed Al Mazrouei, Minister of Energy UAE
- Global Trading Giants BP, Total, Shell and Vitol to also speak
- Three Top Japanese Players; JX Nippon, Idemitsu and Cosmo come on board as speakers for the first time.
The 24th Annual Middle East Petroleum & Gas Conference (MPGC 2016) to be held in Abu Dhabi, UAE from April 24-26, 2016 is rapidly gathering steam with Ministers, super major CEOs, oil company senior management and other industry heavy-weights all joining as speakers, even as global oil markets contend with low prices, volatility and declining demand. More than 400 delegates are expected at MPGC 2016 and 650 for MPGC Week events being held from April 24-26.
His Excellency Suhail Mohamed Al Mazrouei, Minister of Energy, United Arab of Emirates is expected to grace the MPGC inauguration on April 25, 2016.
Heads of trading and supply at the corporate level of super majors BP, Shell and Total, will take the helm with Keynote Addresses by Mr. Paul Reed, CEO of BP for Integrated Supply & Trading (IST) plc, Mr. Thomas Waymel, Senior Vice President, Trading & Shipping in Total, and Mr. Mike Muller, Vice President Global Crude Oil Trading & Supply, Royal Dutch Shell plc.
In a casting coup, the top three Japanese trading houses of JX Nippon, Idemitsu and Cosmo will also be represented for the first time by senior level Japanese speakers; Mr. Hiroshi Hosoi, Director, Senior Vice President for Supply Logistics and Trading, JX Nippon, Mr. Kiyoshi Homma, Executive Officer & General Manager for IST at Idemitsu Kosan Company Ltd. and Mr. Isao Kusakabe, President of Cosmo Energy Exploration and Production.
Other distinguished speakers include Mr. Richard W. Westerdale, Director-Policy Analysis & Public Diplomacy of Bureau of Energy Resources, U.S. Department of State, Dr. Widhyawan Prawiraatmadja, Senior Advisor to Minister, and Head of Performance Management Unit, Ministry of Energy and Mineral Resources (MEMR), Commissioner of PT Pertamina (Persero), and Indonesia Governor for the Organisation of the Petroleum Exporting Countries (OPEC), and Mr. Christopher Bake, Executive Committee and Head of Origination of Vitol.
ADNOC, which has hosted MPGC five times, is also taking a high profile at MPGC 2016 with senior management representatives of Group companies visible at speakers and chairs including Mr. Mubarak Al Ketbi, Deputy Director, Marketing & Refining in ADNOC and MPGC 2016 Co-Chairman, Dr. Ali Obaid Al-Yabhouni, CEO of Ruwais Fertilizer Industries (FERTIL) & UAE Governor for the Organisation of the Petroleum Exporting Countries (OPEC), and Mr. Saif Ahmed Alghfeli, Chief Executive Officer of Abu Dhabi Gas Development Company Ltd. (Al Hosn Gas) and Mr. Qasem Al Kayoumi, Manager Offshore Division, Exploration & Production Directorate. In addition to Mr. Hashem Al Refaei, Business Integration & Performance Division Manager in the Marketing & Refining Directorate in ADNOC, will represent ADNOC on the MPGC 2016 International Advisory Committee.
Commenting on ADNOC’s participation, Mr. Mubarak Al Ketbi, Deputy Director, Marketing & Refining in ADNOC and Co-Chairman of MPGC 2016 said: “The MPGC with ADNOC’s support will provide an ideal platform to exchange views in a challenging oil and gas industry, as new players are adding to the supply chain amid a volatile low price environment.”
Dr. Fereidun Fesharaki, Chairman of FGE, leading oil and gas industry advisors for the Middle East and Asia and Co-Chairman of MPGC 2016 said: “The Oil market turmoil has continued in 2016 and the so called “rebalancing” continues. Has the market reached the floor at around US$30 a barrel? Will there be a substantial increase in the price by year end or will there be a “lower for longer” price scenario. How do geopolitical conflicts affect the market? Will Iran reach the full pre-sanction volume before year end? Will Libya oil come in the market and push prices further down? We have all been waiting for the US production to drop and this year will see a substantial decline but Russian production seems to be increasing, while Iraq continues to expand. OPEC is not able to agree on a strategy to cut production because non-OPEC and Russia produce more oil than Saudi Arabia. What is needed to result in a sustainable agreement in OPEC and some non-OPEC countries to reduce output? When and under what conditions? Lower oil prices have boosted refining margins in a dramatic way. How long will this continue? What are the threats to margins and from what sources? LNG markets are even more oversupplied than oil and spot prices are now around half of contract prices. How will the new LNG markets rebalance themselves? MPGC 2016 will address all these issues and provide the answers.”
MPGC 2016 will convene under the theme “Global and Middle East Markets: Entering Uncharted Territory and Surviving the Challenges,” providing the framework of the critical developments and challenges in the global oil and gas markets in 2016 that will underscore the landscape of key issues for the global oil markets in 2016.
MPGC has also received the support of more than 250 sponsors and 150 media sponsors, from 1993 to 2015. The 2016 event features prominent sponsors again including ADNOC, BP, BGN International, Dubai Mercantile Exchange (DME), Delta Rubis Petrol, Platts, Shell and Vitol.