Adnoc chief executive Dr Sultan Al Jaber has instigated new business strategies for the state-owned oil giant. Antonie Robertson / The National
Adnoc chief executive Dr Sultan Al Jaber has instigated new business strategies for the state-owned oil giant. Antonie Robertson / The National

Global energy CEOs to meet in Abu Dhabi ahead of Adipec



The chief executives of BP, Saudi Aramco, France’s Total, China’s CNPC, Exxon Mobil and Lukoil will be among a gathering of 27 of the world’s most senior energy company executives in Abu Dhabi on Sunday to discuss critical issues facing the industry.

The high-profile gathering is being held ahead of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) 2017, one of the world’s largest energy gatherings, which begins on Monday in the capital.

The global backdrop for the meeting includes the outlook for oil prices and the possible extension of production cuts. Crude oil prices have risen by more than a third about 35 per cent since hitting a low for the year in late June, amid signs that global supplies have tightened and that an Opec/non-Opec strategy to restrict output, first agreed in November 2016, is working to lift prices. It is expected that the production curbs will be extended this month to remain in place beyond their current expiry date of March 2018.

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The highly-anticipated IPO of a stake in Saudi Aramco, scheduled for next year, is another recent development for the sector, together with its potential impact on other national oil companies within the Arabian Gulf region.The rapid development of electric vehicles and the resultant impact on global oil demand  is also likely to feature during the meeting.

The roundtable discussion will be hosted by Dr Sultan Al Jaber, group chief executive of the Abu Dhabi National Oil Company and Minister of State in the UAE.

“Structural changes in supply and demand are reshaping the energy landscape and pushing the industry to re-imagine what the energy company of the future will look like. As the industry adapts to shifting market dynamics, fresh approaches to investment and market strategy are needed to remain resilient and thrive in the decades to come,” he said.

The full line up of the Abu Dhabi chief executive roundtable is as follows:

Dr Al Jaber of Adnoc, Amin Nasser of Saudi Aramco; Kurt Bock, chairman of BASF; Mark Garrett, chief executive of Borealis; Bob Dudley of BP; Chan Chauto, president of CEFC China; Pedro Miro Roig, chief executive of CEPSA; Wang Yilin, chairman of CNPC; Claudio Descalzi, chief executive of ENI; Darren Woods of Exxon Mobil; Hunter Hunt, president of Hunt Consolidated Energy; Sanjiv Singh, chief executive of Indian Oil Company; Toshiaki Kitamura, chief executive of Japan's Inpex; Yasushi Kimura, chairman of JXTG Holdings; Nizar Al Adsani, chief executive of KPC; Vagit Alekperov, president of Lukoil; Musabbeh Al Kaabi, chief executive of Petroleum and Petrochemicals at Mubadala Investment Company; Todd Karran, chief executive of Nova Chemicals; Rainer Seele, chief executive of OMV; Vicki Hollub chief executive of OXY; Antonio Costa Silva of Partex; José Antonio González Anaya; chief executive of Pemex; Tan Sri Wan Zulkiflee Wan Ariffin, chief executive of Petronas; Rovnag Ibrahim Abdullayev, president of Socar; Frank Ning, chairman of Sinochem; Eldar Saetre of Statoil; and Patrick Pouyanné of Total.

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Yemen's Bahais and the charges they often face

The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.

The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran. 

Today, some 2,000 Baha'is reside in Yemen, according to Insaf. 

"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said. 

Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer. 

The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy. 

 

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Fixtures (6pm UAE unless stated)

Saturday Bournemouth v Leicester City, Chelsea v Manchester City (8.30pm), Huddersfield v Tottenham Hotspur (3.30pm), Manchester United v Crystal Palace, Stoke City v Southampton, West Bromwich Albion v Watford, West Ham United v Swansea City

Sunday Arsenal v Brighton (3pm), Everton v Burnley (5.15pm), Newcastle United v Liverpool (6.30pm)

Company%20Profile
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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)

The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

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Results
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Farasan Boat: 128km Away from Anchorage

Director: Mowaffaq Alobaid 

Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani

Rating: 4/5

Company%20Profile
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MO
%3Cp%3E%3Cstrong%3ECreators%3A%20%3C%2Fstrong%3EMohammed%20Amer%2C%20Ramy%20Youssef%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EMohammed%20Amer%2C%20Teresa%20Ruiz%2C%20Omar%20Elba%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

On the menu

First course

▶ Emirati sea bass tartare Yuzu and labneh mayo, avocado, green herbs, fermented tomato water  

▶ The Tale of the Oyster Oyster tartare, Bahraini gum berry pickle

Second course

▶ Local mackerel Sourdough crouton, baharat oil, red radish, zaatar mayo

▶ One Flew Over the Cuckoo’s Nest Quail, smoked freekeh, cinnamon cocoa

Third course

▶ Bahraini bouillabaisse Venus clams, local prawns, fishfarm seabream, farro

▶ Lamb 2 ways Braised lamb, crispy lamb chop, bulgur, physalis

Dessert

▶ Lumi Black lemon ice cream, pistachio, pomegranate

▶ Black chocolate bar Dark chocolate, dates, caramel, camel milk ice cream
 

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.

"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.

As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Company%20profile
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BELGIUM%20SQUAD
%3Cp%3EGoalkeepers%3A%20Thibaut%20Courtois%2C%20Simon%20Mignolet%2C%20Koen%20Casteels%0D%3Cbr%3E%0D%3Cbr%3EDefenders%3A%20Jan%20Vertonghen%2C%20Toby%20Alderweireld%2C%20Leander%20Dendoncker%2C%20Zeno%20Debast%2C%20Arthur%20Theate%2C%20Wout%20Faes%0D%3Cbr%3E%0D%3Cbr%3EMidfielders%3A%20Hans%20Vanaken%2C%20Axel%20Witsel%2C%20Youri%20Tielemans%2C%20Amadou%20Onana%2C%20Kevin%20De%20Bruyne%2C%20Yannick%20Carrasco%2C%20Thorgan%20Hazard%2C%20Timothy%20Castagne%2C%20Thomas%20Meunier%0D%3Cbr%3E%0D%3Cbr%3EForwards%3A%20Romelu%20Lukaku%2C%20Michy%20Batshuayi%2C%20Lo%C3%AFs%20Openda%2C%20Charles%20De%20Ketelaere%2C%20Eden%20Hazard%2C%20Jeremy%20Doku%2C%20Dries%20Mertens%2C%20Leandro%20Trossard%3C%2Fp%3E%0A
INFO

Everton 0

Arsenal 0

Man of the Match: Djibril Sidibe (Everton)

RESULTS

5pm: Handicap (PA) Dh80,000 (Turf) 2,200m
Winner: Jawal Al Reef, Fernando Jara (jockey), Ahmed Al Mehairbi (trainer)

5.30pm: Handicap (PA) Dh80,000 (T) 1,600m
Winner: AF Seven Skies, Bernardo Pinheiro, Qais Aboud

6pm: Maiden (PA) Dh80,000 (T) 1,200m
Winner: Almahroosa, Fabrice Veron, Eric Lemartinel

6.30pm: Maiden (PA) Dh80,000 (T) 1,200m
Winner: AF Sumoud, Tadhg O’Shea, Ernst Oertel

7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m
Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel

7.30pm: Handicap (TB) Dh90,000 (T) 1,400m
Winner: Adventurous, Sandro Paiva, Ali Rashid Al Raihe

The%20specs
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
AL%20BOOM
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Frida%20
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Quick%20facts
%3Cul%3E%0A%3Cli%3EStorstockholms%20Lokaltrafik%20(SL)%20offers%20free%20guided%20tours%20of%20art%20in%20the%20metro%20and%20at%20the%20stations%3C%2Fli%3E%0A%3Cli%3EThe%20tours%20are%20free%20of%20charge%3B%20all%20you%20need%20is%20a%20valid%20SL%20ticket%2C%20for%20which%20a%20single%20journey%20(valid%20for%2075%20minutes)%20costs%2039%20Swedish%20krone%20(%243.75)%3C%2Fli%3E%0A%3Cli%3ETravel%20cards%20for%20unlimited%20journeys%20are%20priced%20at%20165%20Swedish%20krone%20for%2024%20hours%3C%2Fli%3E%0A%3Cli%3EAvoid%20rush%20hour%20%E2%80%93%20between%209.30%20am%20and%204.30%20pm%20%E2%80%93%20to%20explore%20the%20artwork%20at%20leisure%3C%2Fli%3E%0A%3C%2Ful%3E%0A
if you go

The flights

Etihad and Emirates fly direct from the UAE to Seoul from Dh3,775 return, including taxes

The package

Ski Safari offers a seven-night ski package to Korea, including five nights at the Dragon Valley Hotel in Yongpyong and two nights at Seoul CenterMark hotel, from £720 (Dh3,488) per person, including transfers, based on two travelling in January

The info

Visit www.gokorea.co.uk

The Case For Trump

By Victor Davis Hanson