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17

OPEC bulletin 3–4/17

CERAWeek 2017

... and was interviewed by CNBC.

... with Darren Woods,

Chairman & CEO of

ExxonMobil.

Mohammad Sanusi Barkino

held a bilateral meeting

with Patricia Espinosa (l),

Executive Secretary of the

United Nations Framework

Convention on Climate

Change (UNFCCC) ...

Studies — Sarah Ladislaw, Director and Senior Fellow,

Energy and National Security Programme, Adam

Sieminski, the James R Schlesinger Chair for Energy and

Geopolitics, and Frank A Verrastro, Senior Vice President

and Trustee Fellow, as well as Jason Bordoff, Founding

Director, Centre on Global Energy Policy, Columbia

University.

Building a new energy future

This year’s CERAWeek theme was

‘Pace of Change:

Building a New Energy Future’.

In this regard, it was clear

that the focus in the short-termwas on providing a stable

platform so as to ensure that in the long-term the industry

is able to deliver the necessary investments in supply to

meet future demand growth in an ever more cost-effec-

tive and sustainable manner. For oil, it was evident, as

Saudi Arabia’s Al-Falih said in a keynote address, that

their remains an “insatiable thirst for oil … demand for

petroleum imports will continue to grow steadily in the

developing world.”

With a sense of optimism returning to the oil industry

and with an anticipated healthy long-term future, a key

outcome of CERAWeek 2017 was the need to continu-

ally work together as an industry to ensure development

occurs in an orderly and stable manner. In this regard, the

value of dialogue and cooperation to better understand

all stakeholders was a key outcome of the event, with

OPEC opening up new avenues for extending its multi-

stakeholder outreach.

All images in this article, courtesy CERAWeek.