«Atlantic Council»: The UAE is a leader in the use of technology to promote oil production

President of the Atlantic Council, the Washington-based research institution, Frederick Kemp, said that «the UAE is at the forefront of the countries in the oil and gas industry and the use of advanced technology», noting that «the technique of Block Qin to track oil storage data,

President of the Atlantic Council, the Washington-based research institution, Frederick Kemp, said that "the UAE is at the forefront of the oil and gas industry and the use of advanced technology." He said that "Block Qin's technique to track oil storage data used by the port of Fujairah, The largest oil refining center in the world, is one of the most important projects in this regard. "

"There are many important new digital innovations in the oil industry, including the digital twin for oil infrastructure, which can help predict maintenance needs, to artificial intelligence and automated learning," Kemp said in remarks ahead of the Abu Dhabi World Energy Forum. .

He pointed to the rise in global energy demand driven largely by emerging markets such as China and India, pointing at the same time the sources of renewable energy from the growth of a massive work primarily to meet demand, as well as being a substitute for coal in some markets, including the United States.

He added that the non-proliferation of renewable energy quickly enough to meet all needs allows a significant growth in demand for gas at the global level, indicating that two forces control the growth of this demand are the transport sector, especially trucks, ships and aircraft, and the petrochemical sector, which is expanding rapidly.

"You are right here in the UAE to realize that the same technologies that have helped to advance rock and gas, or even the technologies that have helped to advance renewable energy sources, have the potential to double the effectiveness of conventional oil production," Kemp said. Traditional oil production. Indeed, the UAE is one of the first countries in the world to benefit from advanced technologies to boost oil production. "

He stressed that the UAE's 2019 Declaration of Tolerance sends a strong message that our current world needs more tolerance and openness, expressing its admiration for the Louvre Abu Dhabi museum and the museum's paintings and cultural influences that reflect the openness, tolerance and cultural mix of the UAE. Globally in the coexistence of different cultures. Kemp praised the UAE's unique initiatives in preparing for the negative effects of climate change. Masdar initiated the initiative, noting that the UAE has made great strides in the development and implementation of climate plans and policies. As for the energy sector being affected by geopolitical changes, the president of the Atlantic Council explained that the oil sector is now at a pivotal stage. "We are naturally in the very early stages of transition to a low-carbon energy system, which is necessary if the world wants to avoid access To dangerous levels of climate change, but there are other factors to consider. " The United States is now a natural gas exporter and will become an oil exporter by the end of the year, he said, noting that this was difficult 10 years ago. Kemp pointed out that trade policy has become an increasingly important factor in energy markets, likely to be concerned about the suspension of trade negotiations between China and the United States, the biggest factor behind the recent decline in oil prices.

It is likely that rock oil will continue to push oil prices to stay within the range of between $ 40 and $ 70 per barrel, which will allow it to rise again.

Rising global demand

On energy, driven

Emerging markets

Such as China and India.

Kemp stressed that the UAE is coming

REF: https://www.emaratalyoum.com/business/local/2019-01-12-1.1171776