Energy Market Witnessing a Global Shift from BRIC Era to Shale Era, says World Energy Expert at ADIPEC 2015

By: Editor In Chief
    
Wed 11 November,2015

Dr. Yergin
Award-Winning Author Shares Riveting Insights on Transforming Energy Landscape




Filed Under: Economy & Development

The world is witnessing a shift in the energy market, driven by geopolitics, oilfield discoveries, and ongoing developments in technology, said the world’s leading authority on energy, Dr. Daniel Yergin, during his Keynote Address at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) yesterday.

Referring to an acronym coined by the investment bank Goldman Sachs that refers to the countries of Brazil, India, Russia, and China (BRIC), which were believed to have promising emerging markets and economies, Dr. Yergin said the oil and gas industry is currently undergoing a transformation.

“We are experiencing a movement from the BRIC era to the Shale era, from a time of great demand and scarcity to a time of an abundance in supply and weaker demand,” said Dr. Yergin.

“What is happening today is a rebalancing of the world economy. People often underestimate the power of technology, such as that which has unlocked shale reserves and played a role in setting the stage for today’s market,” added Dr. Yergin.

Companies today must adapt a more competitive approach, where investments will be more carefully selected and strategies assessed thoroughly for a long-term view to business, rather than one zeroed in on immediate turns, according to the Pulitzer-Prize winner.

“Oil companies today must demonstrate agility,” Dr. Yergin said. “Innovation and developments in technology are critical to meeting the needs and future requirements of today’s growing world, and events like ADIPEC help drive the discussions that pave the way to a sustainable energy future.”

About ADIPEC

Held under the patronage of the President of the United Arab Emirates, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, and organised by the Global Energy division of dmg events, ADIPEC is the global meeting point for oil and gas professionals. Standing as one of the world’s top three energy events, and the largest in the Middle East and North Africa, ADIPEC is a knowledge-sharing platform that enables industry experts to exchange ideas and information that shape the future of the energy sector. ADIPEC 2015 will take place from 9-12 November at the Abu Dhabi National Exhibition Centre (ADNEC), and is expected to host more than 2,000 exhibitors, 85,000 attendees, and 7,000 delegates, once again breaking its previous records. ADIPEC 2015 is supported by the UAE Ministry of Energy, the Abu Dhabi National Oil Company (ADNOC), and the Abu Dhabi Chamber. dmg Global Energy is committed to helping the growing international energy community bridge gaps by bringing oil and gas professionals face to face with new technologies and business opportunities.

For media enquiries, please contact:

Nour Soliman

Marketing Manager, dmg events

Twofour54, Park Rotana Offices, 6th Floor

PO Box 769256, Abu Dhabi, UAE

T: +971 2 697 0514

Wallis Marketing Consultants

ADIPEC@wallis-mc.com

T: 971 4 390 1950

Manal Ismail (English): +971 50 5087089

Feras Hamzah (Arabic): +971 50 7984784




LEADERSHIP AND ENTREPRENEURSHIP

EVENTS & CONFERENCES

NETWORKING
Related Posts
India’s Economic Growth Accelerates
India’s economic expansion accelerated last quarter as robust growth in manufacturing helped it pull further ahead of China as the world’s fastest-growing big economy. Gross domestic product in the three months ...
READ MORE
BURJ AL SARAB SET FOR OPENING IN APRIL 2015
Jannah Hotels and Resorts group is planning to open its Burj Al Sarab by Jannah will be inaugurated in  April  2015, according to the group’s  VP Operations Abu Dhabi Richard Haddad, ...
READ MORE
DAMAC PROPERTIES` LUXURY TOWERS IN RIYADH TOP OUT
Riyadh — Two of the most iconic towers in the heart of Saudi Arabia’s capital, Riyadh, have been topped out less than two years after work began.  Luxury real estate developer ...
READ MORE
CARTRIDGE WORLD NOW ENTERS MIDDLE EAST AND NORTH AFRICA
After success in more than 50 countries, Cartridge World, enters the MENA region in collaboration with Taleed International offering high quality re-engineered cartridges produced using state of the art technology. ...
READ MORE
Al Habtoor Group Appoints Kamal Naamani to Head New Projects at Hospitality division, including the Flagship Al Habtoor City
The Al Habtoor Group has appointed Kamal Naamani as Group Director of Operations for its expanding Hospitality and Leisure Projects. Naamani, who took up his post in early June, is ...
READ MORE
Dubai to host museum of ideas that changed world
Nationality is not taken into consideration while accepting nominations for the Nobel Prize, a top official from the Nobel Museum has affirmed.   When asked about the possibility of someone from the ...
READ MORE
Five myths about the Chinese economy
A widely held Western view of China is that its stunning economic success contains the seeds of imminent collapse. This is a kind of anchoring bias, which colors academic and ...
READ MORE
Sheikha Fatima launches strategy for empowerment of Emirati women
Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), Supreme Chairwoman of the Family Development Foundation (FDF) and President of the Supreme Council for Motherhood and Childhood, has ...
READ MORE
$51 million Visen polymer plant opens at Hamriyah
Visen Industries Ltd, India’s largest manufacturer of polymer emulsions, announced on Sunday the opening of its $51 million plant Hamriyah Free Zone, Sharjah.   The plant will commence commercial production of polymer ...
READ MORE
AL ZAHIA TO GIVE SHARJAH DH5 BILLION BOOST
Al Zahia, a residential community in Sharjah, will help Sharjah diversify in the real estate sector and its total contribution to emirate’s economy will reach Dh5 billion, said a top ...
READ MORE
India’s Economic Growth Accelerates
BURJ AL SARAB SET FOR OPENING IN APRIL
DAMAC PROPERTIES` LUXURY TOWERS IN RIYADH TOP OUT
CARTRIDGE WORLD NOW ENTERS MIDDLE EAST AND NORTH
Al Habtoor Group Appoints Kamal Naamani to Head
Dubai to host museum of ideas that changed
Five myths about the Chinese economy
Sheikha Fatima launches strategy for empowerment of Emirati
$51 million Visen polymer plant opens at Hamriyah
AL ZAHIA TO GIVE SHARJAH DH5 BILLION BOOST