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Energy Panel

DYNAMICS OF THE GLOBAL ECONOMY
Key moments
Broadcast
Summary

The Energy Panel traditionally hosts the leaders of the largest oil and gas companies, leading producers of equipment and technologies, leaders of executive bodies from the world’s oil producing regions, as well as acknowledged experts in the field of petroleum economics. Discussions at the top industry level will help to find answers to topical questions in modern development:<br />- The oil industry’s contribution to ensuring sustainable economic growth and narrowing the inequality gap<br />- The resource potential of the largest global producers and prospects for bringing it to fruition<br />- Technologies in demand for the oil industry: views from oil producers and technology suppliers<br />- Capital allocation: investment appeal of oil and gas projects – work in progress<br />- The state’s role in the oil and gas industry<br />- Future prospects for oil companies’ gas business

Moderator:
Nobuo Tanaka , Chairman, Sasakawa Peace Foundation; Executive Director (2007–2011), International Energy Agency

Key note:
Igor Sechin , Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, Rosneft

Broadcast

Key moments

Hydrocarbon-based energy has been and will remain in demand as alternative energy sources are characterised by inconsistent government subsidies and an inability to satisfy the base load.
Igor Sechin
Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, Rosneft
The Russian oil and gas industry is influenced more by the petroleum fiscal regime than by global hydrocarbon price fluctuations.
Igor Sechin
Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, Rosneft
The oil and gas industry is much more transparent than earlier and it makes companies more efficient, which ultimately benefits both producers and consumers.
Ivan Glasenberg
Chief Executive Officer, Glencore International plc
Nowadays there are three areas which can help the oil and gas industry: additive technologies (manufacturing) to increase productivity and decrease lead time; the big data aspect: retrieving the data, linking it, and using the output information to predict and decrease downtimes and improve efficiency; evolution of equipment and technologies by integration with service providers.
Lorenzo Simonelli
President, Chief Executive Officer CEO, GE Oil & Gas SpA
It may be said that the period of low oil prices is here to stay, yet there is a notable increase in market volatility. Under such conditions, market analysts are considering scenarios involving price parameters on the level of USD 50, 40, and even 30 per barrel.
Igor Sechin
Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, Rosneft
There is a dissonance between the regulatory agenda and the tasks of satisfying rising customer demand effectively. This concerns use of revenues from traditional hydrocarbon-based energy for unjustified subsidizing of alternative energy. Expectations regarding an increase in energy efficiency and energy savings have been exaggerated.
Igor Sechin
Chief Executive Officer, Chairman of the Management Board, Deputy Chairman of the Board of Directors, Rosneft
A transition to low carbon energy will certainly happen. However, it is going to happen slowly and deliberately, and we need government policies to do that.
Robert Dudley
Group Chief Executive, BP p.l.c.
It is a big challenge to provide available energy to people, which helps them in their life, simultaneously balancing the impact on the environment and making sure that the world is mitigating the impact of our products.
Darren Woods
CEO, Exxon Mobil Corporation
The risk associated with resource projects in Russia is high. However, the largest global producers will bring the resource projects to the market when the economics deems it.
John Walles
Managing Partner, Reign Energy