This here new decade is already gettin' the ball rollin' for the global Oil Industry, I tell you what. From January 13th through the 15th, The International Petroleum Technology Conference (IPTC) is puttin' on its twelfth annual get-together. The conference is happenin' way over in Dhahran, a city in Saudi Arabia, with Saudi Aramco steppin' up as the Exclusive Host Organisation. This big ol' event has pulled in sponsorships from ExxonMobil, Halliburton, Aramco, Chevron, and even Microsoft. With that many big dogs from the industry in one place, IPTC is sure to have a hand in stirrin' up some new Oil Technologies.
The International Petroleum Technology Conference
Just to give y'all some background, since it got started back in 2005, the IPTC has done a whole lot to shape and help out the Oil Industry. Four groups from all over the globe sponsor this shindig; the American Association of Petroleum Geologists (AAPG), the European Association of Geoscientists and Engineers (EAGE), the Society of Exploration Geophysicists (SEG), and the Society of Petroleum Engineers (SPE). They sit down with regional energy ministers, industry leaders, and government folks, along with other specialists from the business. The whole point of the conference is to tackle industry problems, share new technological ideas, and talk about movin' the oil industry forward.
Mohammed Y. Al-Qahtani, one of the IPTC 2020 Executive Committee Chairmen and Senior Vice President of Aramco, had this to say:
“This will be the first international multi-disciplinary, inter-society oil and gas conference and exhibition to be held in Saudi Arabia. The Kingdom, with some of the world’s largest oil reserves, occupies a unique position at the crossroads of Europe, Africa and Asia, making it a fitting location for one of the largest and most prestigious international conferences for petroleum engineering.”
IPTC 2020: Vision to Prosperity: A New Energy Era Emerges
The 2020 Conference went by the theme “Vision to Prosperity: A New Energy Era Emerges”. Even though it's Saudi Arabia's first time hostin' the IPTC, they got more than fifteen thousand folks from seventy different countries showin' up. Saudi Aramco President and CEO Amin H. Nasser made a point about needin' to shift to a lower carbon energy mix and shined a light on how the energy industry has helped build the economic good times the world enjoys today. He said,
“With IPTC 2020, we have the perfect platform to push forward in our efforts to demonstrate that our industry is an integral part of the long-term solution to global energy challenges. As part of the energy transition, I firmly believe, oil and gas will continue to play a significant role for a long time to come. “
He went on to add:
“We have the capability to be leaders when it comes to addressing the need for more energy with less emissions and I am confident that our industry has the talent and the innovative mindset, which is required to find the best and most pragmatic solutions. ”
On Monday, January Thirteenth, that London Journalist Annmarie Hordern, sat down with Saudi Arabia's Minister of Energy, HRH Prince Abdulaziz Bin Salman Al Saud to talk about OPEC's Declaration of Cooperation. Bin Salman said he was “very comfortable” with how them OPEC+ nations handled their production cuts in December. He's been sayin' similar things about their efforts to get inventories to a certain spot by keepin' up with them output cuts. There ain't no official word on when these current setbacks are gonna wrap up. Eithne Treanor, an English Media and Communications specialist, reported that same day that bin Salman Al-Saud is pointin' the finger at the media for makin' folks think OPEC+ is a cartel. He's urgin' 'em to go talk to some economists and rethink their stance, sayin' “OPEC+ in no way has the connotations of a cartel.”
But when all's said and done, there's one fact left standin': the world of Oil is only gettin' better, and 2020 is bringin' in a whole new era of profit and lookin' out for the environment in the Industry.
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