Sign in Register
Posted On: 7 March 2013 12:54 pm
Updated On: 12 November 2020 02:12 pm

Game Change for Global Energy Industry

Discuss here!
Start a discussion
Doha March 07 :The global energy industry may be witnessing one of the most disruptive shake-ups since a wave of takeovers in the late 1990s created the super-majors as a series of game-changers, including the rise of independents and the so-called shale revolution, look set to alter the energy landscape in 2013, . In the wake of $10 oil more than a decade ago we witnessed significant consolidation in the energy industry when a wave of M&A activity redefined the sector. In the wake of $100 oil over the last couple of years we have witnessed a new transformation, less defined perhaps but equally as dramatic – NOCs are becoming IOCs; Supermajors are slimming down; Independents are joining forces and pioneering exploration; Service companies are taking on IOC activities and the development of shale oil and gas has become a global conversation. “NOCs and IOCs reached a culminant stage of their development; better cooperation can present a formula for salvation and ensure a win-win situation. They can–without a shadow of a doubt- -engage in long-term partnership to attain mutual benefits, help ensure the industry development, improve global energy security of supply and demand, as today’s choice will definitely impact on tomorrow’s results,” His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry and Chairman & Managing Director of Qatar Petroleum, told The Gulf Intelligence Doha Energy Forum, which closed in Doha today. The Doha Energy Forum was held over the last two days under the patronage of His Excellency Dr. Al-Sada, who participated in an on-stage feature interview and Q&A at the annual industry knowledge event. The forum was produced in partnership with Maersk Oil Qatar, which currently produces around one-third of Qatar‘s daily oil production, and hosted by Texas A&M University at Qatar. “Maersk Oil is a long-term partner with Qatar Petroleum and the State of Qatar and is therefore pleased to encourage on-going dialogue between industry peers to help share knowledge and ideas,” said Sheikh Faisal Al-Thani, Deputy Managing Director, Maersk Oil Qatar. Dr. Mark H. Weichold, Texas A&M at Qatar Dean and CEO, said, “It is the University’s pleasure to host the Doha Energy Forum for the fourth year. This forum serves as the event of record for the Doha energy sector and its growth is impressive. The Forum offers a great opportunity to connect with industry leaders and helps the University learn about emerging needs and respond to a rapidly changing energy industry through enhancing our teaching and expanding our research.” source:Qatar chronicle