ADIPEC: Building resilience and role of oil and gas industry in energy transition

ADNOC CEO roundtble photoMore than 30 of the world’s leading oil, gas and petrochemical chief executives will join a virtual roundtable hosted by the Abu Dhabi National Oil Company (ADNOC) on 11 November to discuss critical issues facing the industry including how oil and gas companies are building resilience in response to COVID-19 and the role of the industry in the energy transition

The roundtable will provide a high-level forum for dialogue on major topics that also include energy market dynamics and the outlook for post-COVID-19 economic recovery.

This invitation-only gathering is the sixth Abu Dhabi CEO Roundtable, underscoring Abu Dhabi's convening power as a global hub for the oil and gas industry and its leadership in shaping the conversation around the evolving energy mix.

The senior executives, representing the world’s major oil, gas and petrochemical companies, have been invited to the event by His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO. The high-level forum will be held under the Chatham House rule to increase openness of discussion.

HE Dr Al Jaber said, “The Abu Dhabi CEO Virtual Roundtable provides an excellent opportunity for the oil and gas industry’s leaders to engage on key issues and challenges facing the energy sector as we continue to closely monitor oil markets and the potential impact of new COVID-19 restrictions on the strength and speed of energy demand and economic recovery. This edition will build on the productive discussions at the last roundtable held in June and will enable us to share perspectives on the role of the industry in the energy transition and how our industry can reinforce its resilience, operate more sustainably and remain competitive in a fast-evolving energy landscape.”

Commenting on the upcoming roundtable, Darren W Woods, chairman and CEO of ExxonMobil Corporation, added, “I am incredibly optimistic about our future; affordable energy will be key for global economic recovery and remains essential to human progress.”

Bernard Looney, CEO of BP, thanked HE Dr Sultan Al Jaber for the invitation to this year's ADIPEC and said, “2020 has been an extremely challenging year for everyone – and our industry is no exception. So even though we can’t meet in person, I’m pleased we can still come together. I’m especially looking forward to joining our friends and partners at the CEO roundtable, listening to how they’re responding to the current circumstances and learning from their experiences.”

Vicki Hollub, president and CEO of Occidental, stressed, “I look forward to joining my peers at the sixth Abu Dhabi CEO Roundtable. The Roundtable continues to provide an important platform to exchange views on the critical issues facing the energy industry. As we navigate this challenging period, the roundtable is all the more vital as an opportunity for dialogue on strategies for post COVID recovery as well as longer-term approaches to the energy transition.”

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

Yergin said: “This ADNOC CEO Roundtable will tackle the critical question of resilience – both economic and physical – in the post-COVID world. The global oil industry has demonstrated remarkable resilience in seamlessly operating and  delivering supplies to consumers worldwide in the face of both the massive COVID disruption and a demand requirement that is down only ten percent for the year, despite lockdowns.

“Thinking now needs to be applied to developing and implementing strategies and approaches that are resilient for a world that will be struggling to define what energy transition will mean after COVID,” added Dr. Yergin, author of The New Map: Energy, Climate, and the Clash of Nations.  “The convening of this unique Roundtable by ADNOC will provide the opportunity to discuss the challenges ahead, bringing together perspectives from around the world.”

The Abu Dhabi CEO Virtual Roundtable will take place during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2020 – one of the world’s largest and most influential events for the global oil and gas industry – which is being held virtually.

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