New base 734 special 24 november 2015

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NewBase 24 November 2015 - Issue No. 735 Edited & Produced by: Khaled Al Awadi

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UAE: Desalination pilot plant Launched, 1500 CMD water capacity Masdar – Renewal energy program + NewBase

In 2013, Masdar launched a renewable energy desalination pilot programme to research and develop energy-efficient, cost-competitive desalination technologies that are suitable to be powered by renewable energy. The long-term goal is to implement renewable energy-powered desalination plants in the United Arab Emirates, as well as the wider MENA region and to have a commercial scale facility operating by 2020.

Through a competitive tender, four commercial partners – Abengoa, Suez Environnement, Sidem/Veolia and Trevi Systems – were selected to support the development of the programme. They will each develop and operate a next-generation pilot seawater desalination plant. The four plants will test a range of innovative approaches in boosting operational efficiency.

The programme consists of two stages:

• Pilot phase (2013 to 2016): Based in Ghantoot, Abu Dhabi, the commercial partners will construct four small-scale desalination pilot plants. They will operate continuously for at least 18 months. The performance of the plants will be assessed and rigorously monitored and tested.




• Implementation & development (after 2016): Scaling-up of technologies that meet predefined criteria as commercially viable, large-scale seawater desalination plants. The plants will be entirely powered by renewables.

The Masdar Institute of Science and Technology will conduct four research projects that will operate alongside and, in addition to, the pilot programme.

The desalination project is sponsored by the Abu Dhabi Government, with co-funding provided by the industry partners. Masdar is leading the project management and coordinating the programme with key Abu Dhabi stakeholders.




Masdar student taps Abu Dhabi’s mangroves for food and fuel The National - LeAnne Graves

Students at the Masdar Institute are helping the country’s oil and gas sector tap the fuel potential of Abu Dhabi’s mangroves. Mohamed Rashid Al Ghailani, 23, of Oman, is a postgraduate student taking part in the institute’s integrated seawater energy and agriculture system (Iseas) project.

“Iseas is a system where we produce food as well as biofuels and other marketable products,” said Mr Al Ghailani.

Biofuels are made from plant extractions, or biomass, and can be used in aviation or ground transportation.

The Masdar team decided to test halophytes, an indigenous plant species that includes mangroves, as it doesn’t grow on land that can be used for

agriculture.

This is not the first such system in existence. Carl Hodges, founder of the Environmental Research Laboratory at the University of Arizona, also created the US-based Seawater Foundation in the 1970s to help poor areas use seawater for irrigation and aquaculture farms.

“My focus is whether we can extract other high-value products from the plant before we proceed with the processing of biofuels and bioethanol,” said Mr Al Ghailani.

The master’s student said that one member of the team was already producing cosmetics from the extractives. “What I’m looking at, since my background is oil and gas, is chemicals that can also be used in petroleum refining,” he said, adding that the pilot should be completed by the end of the year. “If everything goes well, we will have a much larger facility in the future.”

New refining methods, involving speciality catalysts, in the hydrocarbon sector are imperative as the age of “easy oil” is past, according to industry experts. “People think that Masdar Institute and renewables contradict oil and gas, but they actually don’t,” said Mr Al Ghailani. “What I’m trying to do – based on my background in oil and gas plus interest in renewable energy – is merge the two.”

He said that the first question was always how much a project or technology costs. “Right now, what we are doing is growing a plant using seawater in the desert to produce fuels. We are trying to reduce as much of the costs as we can to come out with something useful that wouldn’t have otherwise been used.”




Oman: OGC awards Salalah loop pipeline contract to Petroject Oman Obverver + NewBase

Oman Gas Company (OGC), the Sultanate’s gas transportation flagship, has awarded its Salalah Gas Loop Line project — a longstanding initiative designed to boost natural gas supply to rapidly expanding Dhofar Governorate — to Egypt’s Petrojet.

The Cairo-based construction contractor, which has full-fledged operations in the Sultanate, will lay a 32-inch diameter pipeline that starts at OGC’s Gas Compressor Station in Nimr. Extending 85 kilometres, the new pipeline will tie in with an existing pipeline at Marmul that runs all the way south to Salalah in Dhofar Governorate.

Dubbed the Salalah Gas Loop Line, the 32-inch diameter pipeline will ramp up supplies to Dhofar where a combination of infrastructure and industrial investment is fuelling demand growth in the governorate.

Among the major customers that will benefit from the additional gas supplies are the developers of a new Independent Power Project (IPP) currently under development in Salalah. A consortium comprising ACWA Power, Mitsui & Company Ltd and Dhofar International Development and Investment Holding Company (DIDIC) is setting up the green-field 445 MW power plant at Raysut.

Salalah Methanol is also preparing to set up a 1,000-tonnes-per-day capacity ammonia plant alongside its methanol scheme in Salalah Free Zone. The project is among a number of industrial and manufacturing ventures slated for implementation around Salalah over the next few years. Ongoing investment in tourism resorts, hotels, shopping malls and residential schemes is also expected to drive up energy demand across the governorate.

Petrojet’s brief, according to officials, is to undertake the engineering, procurement and construction (EPC) of the loop line project based on a front-end engineering design (FEED) provided by OGC and enhanced by Tebodin Oman.

“We are currently focused on preparing the detailing engineering design, upon the completion of which we hope to get started with the actual construction of the pipeline tentatively by February 2016,” an official said. “Pipes for the project have already been procured by OGC under a separate tender, but there are associated utilities like valve stations, isolation joints, and other fittings that are part of Petrojet’s brief,” he stated. A 12-month schedule has been specified for the completion of the project after the detailed design phase — a challenging timeframe Petrojet says it is gearing up to meet.




Saudi Arabia Edges Out Russia in China Oil Sales as OPEC Digs In Bloomberg News

Saudi Arabia reclaimed its position from Russia as the largest crude supplier to China as OPEC members extended their global fight for market share.

The world’s biggest oil exporter sold 3.99 million metric tons to China in October, 0.8 percent more than in September, data from the Beijing-based General Administration of Customs showed on Monday. Angola, another member of the Organization of Petroleum Exporting Countries, also surpassed Russia in shipping crude to the Asian nation.

China has become a battleground for oil producers who are seeking to defend sales amid a worldwide oversupply. Prices have slumped 40 percent since OPEC embarked on a strategy last November to keep pumping and drive out higher-cost competitors such as U.S. shale companies. The 12-member group is scheduled to meet next week and Venezuela has warned that crude could drop to as low

as the mid-$20s a barrel unless action is taken to stabilize the market.

“Saudi Arabia never stopped fighting for market share in China and in Asia as a whole,” Gao Jian, an analyst at SCI International, a Shandong-based energy consultant, said by phone. “One year after OPEC announced its production policy to defend market share, their strategy seems to be

working.”

Saudi Arabia this year twice ceded the top spot to Russia in crude sales to China, in May and September. The kingdom accounted for about 15 percent of China’s imports in the first 10 months of this year, compared with 12 percent for Russia, according to the customs data.

Russia supplied 3.41 million tons to its neighbor in October, a 16 percent drop from a record in September. Angola’s shipments climbed 27 percent from the previous month to 3.64 million tons, the data showed.




Malaysia's Sarawak Has More Oil & Gas Fields Not Monetized Yet RigZone + NewBase

Malaysia has more than 200 discovered oil and gas fields off the eastern state of Sarawak that have not been monetized, an official at state-owned firm Petroliam Nasional Bhd (PETRONAS) said Saturday at a company event, as reported by national news agency Bernama.

PETRONAS has pumped in over $70 billion (MYR 300 billion) in cumulative investment in Sarawak in upstream, midstream and downstream projects and activities, according to its LNG Group of Companies Vice President and CEO Dzafri Sham Ahmad, who spoke at the PETRONAS Media Nite 2015 in the state capital of Kuching.

In the upstream segment, Dzafri said Sarawak has 60 oil and gas producing fields, 26 oil and 34 gas, producing an average of 0.85 million barrels of oil equivalent per day (MMboepd).




"Additionally there are another 206 discovered fields which are yet to be monetized," he said.

Another project in Sarawak is PETRONAS Floating LNG1 (PFLNG1), which is one of the world's first floating liquefaction plants. The facility will be deployed to the Kanowit development, which is located approximately 111 miles (180 kilometers) offshore Bintulu, Sarawak where it will produce, liquefy and offload gas from the field.

PFLNG1 -- currently under construction at Daewoo Shipbuilding & Marine Engineering Co. Ltd.'s

shipyard in Okpo, South Korea -- has a liquefied natural gas (LNG) capacity of 1.2 million tons per annum. The facility is scheduled to commission in early 2016.

Earlier this month, PETRONAS reported that the firm's third quarter 2015 oil and gas production that ended Sept. 30 increased five percent to 2.182 MMboepd, compared to 2.078 MMboepd in the previous year. Most of the company's hydrocarbons production was oil, which accounted for 1.289 MMboepd, while gas and condensate were next at 749 MMboepd and 144 MMboepd, respectively.




Indonesia: NuEnergy Completes Acquisition of Dart's CBM Assets NuEnergy

NuEnergy Gas on Monday said it has completed the acquisition of Dart Energy’s Indonesian coal bed methane (CBM) assets. In May, NuEnergy signed a conditional agreement to acquire 100 percent of the issued share capital of Dart Energy (Indonesia) Holdings.

Dart Indonesia, through its group controlled companies, has a participating interest in the following production sharing contracts (PSC) and joint evaluation (JE) covering 1,559 and 482 sq kms: 45 percent participating interest in Tanjung Enim CBM PSC, South Sumatra; 50 percent in Muralim CBM PSC, South Sumatra; 100 percent in Bontang-Bengalon CBM PSC, East Kalimantan; and rights to the JE of Bungamas CBM, South Sumatra . The acquisition of Dart Indonesia is for a cash consideration of $1million to be funded from NuEnergy Gas’ available cash. “We wish to inform that all the conditions precedent have been met and the balance of the purchase consideration of $500,000 has been paid to the Vendor on 20 November 2015,” the company said. NuEnergy currently has PSCs in South and Central Sumatra, Indonesia, covering 4,819 square kilometres. NGY is the operator of all three, Muara Enim (40 percent participating share); Muara Enim 2 (30 percent participating share) and Rengat (100 percent participating share).




NewBase 24 November - 2015 Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

Oil rise around one percent on Saudi pledge to stabilize prices Reuters + NewBase

Crude oil futures rose around one percent on Tuesday, after Saudi Arabia pledged to work toward oil price stability, while a strong U.S. dollar and an expected rise in U.S. crude stocks limited the price rally.

Benchmark Brent futures for January contract climbed 38 cents or 0.85 percent at $45.21 a barrel as of 0121 GMT after it settled up 17 cents at $44.83 a barrel on Monday.

U.S. crude's West Texas Intermediate (WTI) futures increased 40 cents or 0.96 percent at $42.15 a barrel after hitting $42.18 a barrel earlier in the session. It finished down 15 cents at $41.75 on Monday.

"The focus is turning to the upcoming OPEC meeting and the hope that some production cuts will be forthcoming. OPEC member comments leading into the December 4 meeting are likely to continue to drive sentiment," ANZ said in a note on Tuesday.

Oil price special

coverage




Saudi Arabia led a shift by the Organization of the Petroleum Exporting Countries (OPEC) in November 2014 to defend market share against competing supplies, rather than cut output to prop up prices.

Saudi's cabinet said on Monday it was ready to cooperate with OPEC and non-OPEC countries to achieve market stability, days before OPEC meets to review its year-long policy of not supporting prices.

On Sunday Venezuelan oil minister said OPEC cannot allow an oil price war and must take action to stabilize the crude market soon. When asked how low oil prices could go in 2016 if OPEC doesn't change its policy, he said: "Mid-20s."

The ANZ note added that the markets are also eyeing any change in U.S. crude oil stocks with the market expecting a small increase.

Regarding U.S. commercial crude oil stocks, a preliminary Reuters survey with five analysts showed on Monday a crude stock build of 1.1 million barrels on average in the week ended Nov. 20, or a rise for a ninth consecutive week.

BNP Paribas said: "We still think that a low 40s NYMEX WTI is a floor from which the market can rally through the winter. Thereafter, the summer of 2016 presents down risk for oil prices as OPEC pursues its current policy, U.S. production stabilizes and Iran delivers more barrels to the market."




Hedge funds turn very bearish on US crude By John Kemp :John Kemp is a Reuters market analyst. The views expressed are his own.

Hedge funds and other money managers had amassed short positions in US crude oil amounting to 154mn barrels by last Tuesday according to data from the US Commodity Futures Trading Commission (CFTC).

Short positions have increased more than 70% since the middle of October and stand at the highest level since August, the CFTC showed in its latest commitments of traders report published on Friday.

The number of hedge funds with reported short positions of at least 350,000 barrels in the main WTI contract on the New York Mercantile Exchange hit 69 last week, the largest number since April. The average hedge fund short position has increased from 1.6mn barrels in mid-October to as much as 2.2mn barrels last week. Since the start of the year, movements in the price of WTI futures prices have been closely correlated with the accumulation and liquidation of hedge fund short positions.

Recent lows in WTI in March and August coincided with a large concentration of hedge fund short positions (178mn and 157-163mn barrels respectively) and a large number of reported short traders (78 and 65-66). The large increase in short positions over the last five weeks confirms how bearish many hedge fund managers have become about the outlook for US crude as stockpiles continue to increase and US weather remains mild.

The major commodity dealing banks almost all remain bearish about US crude prices in the short term, seeing a further dip into the $30-40 range as necessary to accelerate the rebalancing of the market. Previous dips in the WTI price in April and August both ended with sharp short-covering rallies once the downward momentum faded and fund managers tried to reduce their positions and lock in profits. With the hedge funds now heavily invested in the short narrative, the risk of reversal is increasing again.




NewBase Special Coverage

News Agencies News Release 24 Nov.. 2015

GCC fiscal surplus may turn to deficit of 7.9% of GDP this year: Markaz By Gulf Times - Pratap John

With the current price being lower than the breakeven oil prices, GCC countries’ fiscal surplus may plunge into deficit to the tune of 7.9% of their GDP this year, a new report has shown.

Although the Gulf Cooperation Council governments had largely retained their budgetary spending in 2015, thus sustaining economic growth in the medium term, fiscal reforms are imperative, says Markaz (Kuwait Financial Centre).

GCC countries continue to be heavily reliant on hydrocarbon revenues, despite their diversification efforts, said MR Raghu, senior vice president (research) at Markaz and managing director, Marmore Mena Intelligence, a Markaz research subsidiary.

The International Monetary Fund expects oil export revenues for the GCC countries to decline by $250bn in 2015 from the 2014 levels, he said.

Raghu pointed out that the recent fall in oil prices by over 61% since June last year due to a host of factors such as shale oil revolution in the US, Opec's decision to retain their output levels amid signs of tenuous demand growth had spilled over into the GCC financial system through banking channels, leading to spurts in overnight lending rate.

With the fiscal situation drastically changed, the GCC governments may have to reassess their spending patterns. However, the low debt levels of the GCC countries, which stand at 9% of GDP as against 117% of GDP for G7 nations coupled with higher sovereign ratings for most GCC countries, lend comfort in the short-term, the report said.

Most international organisations such as the IMF, the World Bank and leading investment banks (JP Morgan and Goldman Sachs) expect the lower oil price environment to persist. In this context, GCC governments have been drawing multiple strategies to plug the deficit, including liquidating their stakes held through sovereign wealth funds, the Markaz report said.




Saudi Arabia has already withdrawn over $70bn of its reserves in the past year. Additionally, governments across the GCC region have cut back on non-priority spending and are working on tackling the increasing subsidy problem.

According to Raghu, the impact of lower oil revenues has visibly impacted the deposit mobilisation process in GCC banks as government deposits account for a sizeable portion. The fall in deposits growth, coupled with governments drawing-down on their savings, has led to short-term pressures on the money market. Though the banks are well capitalised, they may not be able to act as the sole source of funding avenue for the governments.

Equity markets have fallen over the last year in line with the drop in crude oil prices, Markaz said. With GCC corporate earnings expected to be muted in the near term, and declining bank lending to invest in the equity markets, stocks in the GCC may face continued pressure. Indeed, the valuation of GCC markets as measured by P/E multiple has on an average declined by 25%, since Q2, 2014.

International bond issues from the GCC countries (corporate and sovereign) have dropped 33% from a year earlier to $22bn in the first nine months of 2015 which is the lowest 9-month total since 2008.

While the record low interest rates, higher sovereign ratings, low debt levels and higher opportunity cost for sovereign wealth funds (SWFs) argue for the case to raise debt to plug the deficit rather than liquidating SWF assets, the actions of GCC government and its impact on the financial system at large, will be closely watched in the coming months.

“Continued pressure on liquidity will accelerate long awaited reforms in the GCC region which augurs well for the long-tem,” Raghu said.




Saudi Arabia’s pockets are deep enough to weather oil price slump By: John Sfakianakis is director of the Ashmore Group for the Middle East. The views expressed are his own.

The recent slump in the price of crude oil has led many to predict Saudi Arabia’s imminent economic collapse. The country derives more than 80pc of its total revenues from the sale of black gold, according to official government figures.

It clearly has to change how it operates: spending cuts and other measures to tackle the deficit are needed over the next few years.

But things are not as bad as they may look at first glance. Saudi Arabia managed to save a lot of money from the oil rally between the early 2000s and last year.

As a result, by the end of 2015, the Kingdom’s foreign reserves will total more than 100pc of its gross domestic product. This is more than enough for the country to cover its import needs, support any future external debt requirements and defend its currency peg.

The price of oil has slumped

True, Saudi Arabia has spent $80bn (£53bn) of its reserves since the start of the year, which is to be expected given the shortfall in revenues as a result of the fall in the price of crude. But reserve

depletion in the 1980s and 1990s was much faster than it is today.

And true, Saudi Arabia is spending more than it’s earning. This year, Saudi Arabia will run a deficit of close to 20pc of gross domestic product (GDP), according to calculations by the International Monetary Fund.

But this is not a new phenomenon. Saudi Arabia ran up fiscal deficits every year

between 1983 and 1999. During that time it had to bankroll the first Gulf War, which cost the Kingdom more than half of its annual output, and also had to deal with a much lower oil price than even today.

Last month, Standard and Poor’s downgraded Saudi Arabia’s credit rating by one notch. This is by no means a disaster. It suggests that the country still has the ability to meet its financial commitments but is now somewhat more susceptible to the adverse effects of changes in economic conditions. In fact, S&P expects Saudi Arabia’s fiscal deficit to fall to a mere 5pc in 2018 if the average price of oil rallies to around $63.




Saudi Arabia has two additional aces up its sleeve: strong institutions and low government debt. According to rating agency Moody’s and its Worldwide Governance Indicators, Saudi Arabia enjoys a high degree of policy credibility.

Things have improved tremendously since the first half of 2015. The ruling council members (government ministers) have been grouped into two areas: the Council of Economic and Development Affairs and the Council of Political and Security Affairs.

Late last month, Saudi Arabia set up a new body that aims to improve government efficiency. The

National Centre for Measuring the Performance of Government Agencies is part of a wider drive by Deputy Crown Prince Mohammed bin Salman to streamline the country’s decision-making processes.

Policies that were once thought of as taboo and marred by vested interests are now seriously being considered as future policy options. For example, the Shura Council, the formal advisory body in Saudi Arabia that proposes laws to the king and his cabinet, has drawn up a draft law on taxing so-called “white lands”, undeveloped plots in urban areas.

Saudi Arabia's King Salman bin Abdulaziz

It is hoped that such a move (if approved by the king) will help the country, which has a young and growing population, tackle its housing shortage. The Kingdom has also established a Commission




for Job Generation and Anti-Unemployment in a bid to combat rising unemployment among young people.

Saudi Arabia’s second ace up its sleeve is its low debt level. During the boom years, it managed to pay off nearly all of its debt, which reached a high of 100pc of GDP in 1999. And, despite tapping the bond markets earlier this year, the country’s debt to GDP is expected to reach only 6pc by the end of 2015, according to Moody’s. Saudi Arabia has the lowest debt to GDP ratio of any G20 country.

The country is poised to announce its 2016 budget, which will give it the opportunity to prove it can rein in expenditure and run a leaner, more disciplined economy.

Domestic and regional politics always play a role in sentiment towards Saudi Arabia. Here, too, there is less cause for concern than some have made out. It was common during the late King Abdullah’s reign to worry about the country’s fragile future in the event of a potentially turbulent leadership succession. In fact, King Salman’s accession in January was remarkably smooth, allaying any fears about instability within the royal family.

Saudi Arabia's military intervention in Yemen, together with its Arab allies, is a new development

Regional geopolitical matters are another area of concern for many observers. True, Saudi Arabia’s military intervention in Yemen, together with its Arab allies, is a new development.

But the country is used to regional instability of one sort or another: the oil slump in the 1980s and 1990s was accompanied by the Iran-Iraq war, civil war in Lebanon and Algeria, turmoil in Sudan and the first Gulf War. Through all this, Saudi Arabia maintained its own stability.

Nobody knows what will happen to the price of oil in the coming year. What is certain is that the energy market has changed with the advent of technological improvements and the production of shale oil and gas, which is almost certainly here to stay.

However, the Kingdom’s dominant position within the Organisation of the Petroleum Exporting Countries, with more spare capacity than all of the other members combined, makes it a geopolitically important ally for the US and other industrialised nations.

There is no doubt that Saudi Arabia faces many challenges and time is of the essence. All its policymakers are aware of this.

The country needs to diversify its economy, create more jobs, embark on a programme of privatisation and tackle the high level of domestic energy consumption.

However, there is no better time for the Kingdom to adopt change than now. The dynamism that is permeating Saudi Arabia’s new thinking should provide confidence that the nation’s economy is solid and is in no danger of crashing and burning.




Statoil CEO: Oil and gas industry facing tough reality (Gallery)

Global challenges and new opportunities in the energy market will create a turning point for the industry, Statoil CEO Eldar Sætre said on Monday at the Statoil Autumn Conference 2015.

In his speech to the Norwegian Prime Minister and other guests at the annual Autumn Conference, Eldar Sætre emphasized the fact that the energy world is changing and the oil and gas industry is currently facing a tough reality, as global upstream investments are estimated to fall by 20% in 2015. But oil and gas will continue to play an important role in the future energy mix, Statoil said. “We know that energy demand is growing. We also know that renewable energy will

have to meet most – if not all – of this increased demand. However, oil and gas will remain critically important energy resources. Even in a 2 degree world we need oil and gas roughly at today’s levels in 2040,” Sætre says. Statoil CEO referred to the signals from the European Commission’s state of the energy union and the UK energy secretary’s speech on UK power generation policy last week. “I was encouraged by the signals on the important role of gas,” Sætre says. Tenth time In cooperation with the Norwegian Ministry of Petroleum and Energy and the International Energy Agency (IEA), Statoil on Monday hosted the Autumn Conference in Oslo for the tenth time. The Norwegian Prime Minister Erna Solberg and Anita Marangoly George, Senior Director of the World Bank Group’s Global Practice on Energy and Extractive Industries, were among the speakers. In advance of the COP21 climate summit in Paris, Sætre emphasized the action needed from policy-makers to set the course through effective policies and from the business doing most of the job in order to solve the global climate challenges; to meet the increased demand for energy and at the same time reduce emissions. Statoil says that, so far, the commitments before COP21 in Paris are not sufficient for the world to reach a 2 degree target.




“But there are weak signals that give cause for optimism. On the political side there is stronger willingness and commitment from some of the big players, including US and China. On the business side I see a growing recognition that the time has come to act and engage,” Sætre says. Carbon efficiency in oil and gas production, technology development and innovation and support to effective policies and regulations stand out as the industry’s best way to contribute, said the Norwegian oil and gas giant. Sætre pointed on that global energy trends represent both challenges, risks and opportunities. Energy demand is growing and emissions must be reduced. This will lead to large shifts in energy use and production. At the same time lower oil and gas prices are causing a rebalancing of supply and demand, putting an increasing premium on being a low-cost producer. Turning point “Combined this dynamic will create a turning point for the industry. The companies and countries that show they can successfully tackle these challenges will be the new winners. Statoil’s response is to capture the opportunities and actively shape the future of energy,” Sætre says. Based on this, Statoil CEO has set three clear priorities for the company going forward. “First, we need to be competitive at all times and create a company that can operate profitably even in today’s commodity environment. Second, Statoil will set an example for how the oil and gas industry must transform. Our industry was unsustainable at 100 dollar oil.” “That’s why we need to embrace simplification and standardization, but also collaborate and share solutions to solve joint problems. And thirdly, I want Statoil to be an energy provider for a low-carbon future. Oil and gas will remain a critically important part of this future. We want to be the world’s most carbon-efficient producer of oil and gas and we will increasingly use our competence in new areas,” Sætre says. In his presentation at the Autumn Conference executive director of the IEA Fatih Birol highlighted the key findings of the latest World Energy Outlook (WEO),a global energy scenario analysis. The global perspective in this year’s WEO, which was launched on November 10, sees clear signs that the energy transition is underway, but emphasizes that strong direction is needed from the Paris climate summit. The climate pledges submitted in advance of COP21 are rich in commitments on renewables and energy efficiency, and this is reflected in the WEO-2015 finding that renewables are set to become the leading source of new energy supply from now to 2040, according to the report. The net result of the changes seen in the WEO-2015 central scenario is that the growth in energy-related emissions slows dramatically, but the emissions trajectory implies a long-term temperature increase of 2.7 °C by 2100. A major course correction is still required to achieve the world’s agreed climate goal, the report says.




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Khaled Malallah Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Emarat member since 1990 ASME member since 1995 Hawk Energy member 2010

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Khaled Al Awadi is a UAE National with a total of 25 years of experience in the Oil & Gas sector. Currently working as Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years, he has developed great experiences in the designing & constructing of gas pipelines, gas metering &

regulating stations and in the engineering of supply routes. Many years were spent drafting, & compiling gas transportation, operation & maintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE and Energy program broadcasted internationally, via GCC leading satellite Channels.

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New base 734 special 24 november 2015