During November 12 to 13, Mr. Frank Ning, Chairman of Sinochem Group was invited to attend the international oil industry summit activities held in Abu Dhabi, including the Abu Dhabi CEO Roundtable Conference and the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). Chairman Frank Ning delivered a keynote speech followed by in-depth discussions on global energy market dynamics with royal family members, government officials, and major international oil dealer executives.
On November 12, at the Abu Dhabi CEO Roundtable Conference, Chairman Frank Ning stated in his speech that, the world’s economic growth needs more energy, global energy demand will be on a steady rise. Currently, China, as the largest oil consumption country and crude oil import country, is more of an oil consumption incremental market; China’s steady increase of oil import demand will continue to be a consequential force of the global oil market’s supply and demand balance. From the perspective of oil and gas supply side, the US’ shale energy revolution changed the conventional oil supply and demand pattern, steering a strong increase of global wide natural gas supply; China’s local refineries’ fast development coupled with their cost advantage brought in shock to established refinery enterprises. In addition, impacted by technology progress and the attention on environment protection, the exploitation and utilization of new energy is just unfolding; China is to become the largest source of the increase of new energy. However, new energy’s rapid development still faces technological breakthrough, conventional energy market fluctuations among other uncertainties. Chairman Frank Ning’s speech was warmly received by attending guests.
The Abu Dhabi CEO Roundtable Conference this time gathered the most important oil and gas companies around the globe. Executives representing 27 international oil dealers, including PetroChina, ExxonMobil, BP, TOTAL, BASF, and Saudi Aramco, dwelt their discussions on future energy demand and supply dynamics and how will the oil and gas industry satisfy the social development featuring low-carbon and environmental protection.
Following the CEO Roundtable Conference, Chairman Frank Ning was received by Crown Prince Sheikh Mohamed Bin Zayed Al Nahyan, Abu Dhabi, UAE, together with other guests. In-depth discussion was then unfolded with Mr. Sultan Al Jaber, UAE Minister of State and CEO of Abu Dhabi National Oil Company, on topics such as global energy market dynamics, Middle East energy pattern change, and potential collaboration sectors.
On November 13, Chairman Frank Ning attended the 2017 ADIPEC opening ceremony, during which he had an in-depth communication with Mr. Suhail bin Mohammed al-Mazroui, Minister of Energy and Industry, UAE, and industry peers on topics such as oil and gas market trend, oil and gas operation mode, technological innovation and other hotspot issues.
Mr. Jiang Zhenghong, Vice President and Mr. Zhong Ren, Assistant President of Sinochem, attended the above mentioned events.