IP Week

51910: Company representatives at the IP Week reception were Dawood M. Al-Dawood: Bader Al-Ghouth, managing director of Saudi Petroleum Overseas Ltd. (SPOL), Charles Thompson, SPOL senior marketing manager; Sulaiman Ababtain, manager of Saudi Aramco Product Sales and Marketing; Mohammed Al-Sharari, SPOL marketing manager; Khalid Al-Qahtani, Crude Oil Sales and Marketing Department (COSMD), Saudi Aramco and Fouad Al-Rammah, senior marketing manager, COSMD, Saudi Aramco.

51923 or 51927: Dawood M. Al-Dawood welcomes guests to the SPOL annual customer reception.

CNV00029: James Smith, President of the Energy Institute, Dawood M. Al-Dawood and Mike Smith, Vice President. Mr. Smith was the winner of the prize draw at the IP Week luncheon.

LONDON – “Investment in capital, technology, people and partnerships are the four key success factors needed to meet future energy demands,” said Dawood M. Al-Dawood, vice president of Marketing, Supply and Joint Venture Coordination, who was the guest of honor and key speaker recently at the Energy Institute’s International Petroleum (IP) Week luncheon.

Al-Dawood, in his speech titled “Investing through the Downturn: Four Key Success Factors for the Energy Future,” urged the 2,000-strong audience to “see the many positives and opportunities that lie ahead,” despite the current business climate.

He began by setting a backdrop for the present oil environment. “In the deepest recession in living memory, oil demand has declined, extending the trend of lower consumption triggered in 2008 by historically high oil prices,” he said.

He then gave insight into Saudi Aramco’s belief that “the big challenges for the oil industry are above ground, not beneath it,” highlighting the positive impact of technology and innovation as a means to tackle those challenges.

Al-Dawood spoke of Saudi Aramco’s plan “to continue to invest across the hydrocarbon value chain to support global supply efforts, now and in the future,” following with highlights of Saudi Aramco’s massive investment projects.

Commenting on Al-Dawood’s speech, Martin Maeso, technical director of the Energy Institute, said, “Mr. Al-Dawood’s optimistic address emphasized the strength of the energy industry to tackle the technical and environmental challenges that lie ahead, and the mood of delegates was no less buoyant.”

One of the highlights of IP week was the Saudi Petroleum Overseas Ltd. (SPOL) annual Customer Reception, hosted by Al-Dawood. The event gave guests who had traveled from more than 30 countries the opportunity to reflect on the partnerships and agreements that will help them work through the current concerns.

“As one of the Energy Institute’s Technical Partners,” Maeso continued, “Saudi Aramco plays an active role in contributing to the production of technical guidance on health, safety, environment, fuel and fuel distribution issues, and we are pleased to continue this most productive relationship in 2010 and beyond.”

Attendees at the event included: Vela International Marine’s President, Mohammed Al-Gusaier, Ahmed Alzayyat, Managing Director of Aramco Overseas Company B.V., Getenergy CEO Phil Andrews and the Right Honorable Malcolm Wicks MP, Prime Minister's Special Representative on International Energy Issues.