Adnoc’s roundtable to discuss post COVID-19 dynamics

The world’s leading oil, gas, and petrochemical CEOs will join a virtual roundtable hosted by the Abu Dhabi National Oil Company, Adnoc, on June 16, to discuss the critical issues facing the industry and share best practices on effective response to COVID-19, as oil markets continue to rebalance amid encouraging signs of economic revival.

Adnoc convened this special virtual edition of the Abu Dhabi CEO Roundtable, gathering the world’s major oil, gas, and petrochemical companies in a discussion of the critical issues facing the industry.

This invitation-only gathering is the fifth CEO Roundtable, reinforcing Abu Dhabi’s convening power as a global hub for the oil and gas industry and its leadership role in shaping the global energy dialogue.

The discussion will provide a high-level forum for dialogue on key topics including safeguarding people, ensuring business continuity, and sustainably positioning the industry around the green shoots of economic recovery.

Dr Sultan Ahmed Al Jaber, UAE Minister of State and Adnoc Group CEO, said, “The Abu Dhabi CEO Virtual Roundtable is a great opportunity to share best practices and exchange views, as we continue to meet the health and economic challenges of COVID-19. While we continue to place the highest priority on the safety of our people and business continuity, we are seeing encouraging signs of a rebalancing oil market and the beginnings of economic recovery.

“The oil, gas, and petrochemical industries will play an essential role in enabling economies as they begin to re-open by providing reliable, affordable, and sustainable supplies of energy. It is important to find creative ways to partner smartly and balance efficiency with responsible investments to ensure our industry’s resilience as a key enabler of economic growth,” he added.

Dr Al Jaber stated that the roundtable also provides a timely platform to share perspectives on how to produce more energy with fewer emissions, “a goal that Adnoc is focused on as we aim to be among the lowest cost and lowest carbon producers in the world.” Commenting on the upcoming roundtable, Vicki Hollub, President and CEO of Occidental Petroleum Corporation, said, “Occidental is committed to working with Adnoc to continue the safe and efficient production of hydrocarbons to meet the world’s energy needs. I appreciate the UAE, Abu Dhabi, and Adnoc’s leadership in continuing to convene CEO forums to address the challenges we are facing, problem solve and move our industry forward.

“Each year, Dr Sultan’s CEO forum has addressed the most relevant issues and I have come away with actionable next steps. I look forward to joining my industry peers in this virtual roundtable to discuss the current topics most important to our industry and the world,” Hollub noted.

For his part, Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, said, “The COVID-19 pandemic has virtually brought the world to a standstill and altered entire mankind’s way of functioning in a profound manner. This has impacted every country, every industry, every society, every human in ways never imagined before. The energy industry, which is the lifeblood of the world economy, has done well to navigate the immediate challenges.

The roundtable will be moderated by the leading energy economist and Pulitzer-Prize winning author Dr. Daniel Yergin, Vice Chairman of IHS Markit.

Dr Yergin, in turn, said, “The COVID-19 crisis has put the global oil and industry through a shock of huge dimensions, for which there is no precedent. Through all the turmoil, the industry has, with great creativity and flexibility, continued to deliver on its commitments to people all around the world. The Abu Dhabi CEO Roundtable has established itself in a very important role in bringing together wisdom about the great issues before the energy industry.

He added, “This new edition of the roundtable is extremely timely and demonstrates the UAE’s convening power as an energy leader. It provides a valuable opportunity to recalibrate, bring together the learnings and experience from these last few months, and identify the challenges and energy needs of the world as it comes out of the crisis.” In addition to Dr. Al Jaber, the roundtable will be attended by Patrick Pouyanne, Chairman and CEO of Total; Bernard Looney, CEO of BP; Claudio Descalzi, CEO of ENI; Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited; Takayuki Ueda, President and CEO of INPEX; Dai Houliang, Chairman of CNPC; Nassef Sawiris, CEO of OCI NV; Philippe Boisseau, CEO of CEPSA; Vicki Hollub, President and CEO of Occidental Petroleum Corporation; Alfred Stern, CEO of Borealis; Vagit Alekperov, President and CEO of LUKOIL; Liu Yijiang, Chairman of ZheunHua Oil; Yongsoo Huh, President and CEO of GS Energy; Rainer Seele, Chairman and CEO of OMV; and Mario Mehren, Chairman and CEO of Wintershall DEA.

WAM