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Gulf Daily News (Bahrain): Oil industry facing challenges

DUBAI: The energy industry in the region needs to take urgent steps in order to be better equipped to face the various challenges, says Royal Dutch Shell officials.

They were speaking at the International Petroleum Technology Conference (IPTC) 2007.

“According to the International Energy Outlook 2007, the worldwide marketed energy consumption is projected to grow by 57 per cent between 2004 and 2030,” Shell Middle East, Caspian and South Asia executive vice-president Raoul Restucci said.

“The world consumes energy now at a rate of 200 million barrels of oil equivalent per day, with 80 per cent supplied by oil, gas and coal,” Shell Exploration and Production technical vice president Michael Naylor said.

“So, our industry will have to consider three things. Firstly, we will increasingly be exploring for deeper targets, often in more difficult environments.

“Secondly, we will have to find ways to commercialise difficult and unconventional hydrocarbons.

And thirdly, society increasingly expects us to mitigate the effects of hydrocarbon use and find solutions to carbon dioxide emissions to counteract climate change.”
 
http://www.gulf-daily-news.com/Story.asp?Article=202002&Sn=BUSI&IssueID=30260

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