SLIDE 1 Image Challenges in Energy Industry: Role of Transparency in addressing Image Challenges
IPRA GCC International Conference| Dubai | 25-27 October | 2016
Fuad A AlZayer Energy Data Transparency, IEF Riyadh
SLIDE 2 Oil & Gas Industry: Fuelling World Prosperity
- Catalyst for growth
- Enables populations to
achieve opportunity
continue to be an enabler for progress
SLIDE 3 Regional (GCC) Image of Industry
- Great Employer
- Top Industry
- Great Social Responsibly
- A source of pride
SLIDE 4
Globally the Image Looks Different
SLIDE 5
Cloudy Global Picture
SLIDE 6
Global Trust in Energy Industry is Low
SLIDE 7 Reasons for Disparity of Image
- 1. Historical legacy (Breakup of Standard Oil 1911)
- 2. Emerging new power (OPEC 1960, Arab Embargo)
- 3. Bad handling of disasters (Exxon Valdez, BP Deep
Horizen Accident)
- 4. Lack of human face: Empathy, & Engagement
- 5. Avoids frank communications (Engineering based
industry)
- 6. Lack of Transparency (Enron, etc.) resulting in non
trust
SLIDE 8 Various Key Transparency Initiatives
- Dodd Frank Act (for energy trading )
- UK Anti- Bribery Act
- Transparency and Accountability Initiative
- The Extractive Industries Transparency Initiative
- Joint Organisations Data Initiative (Global initiative
coordinated by the IEF)
SLIDE 9
IEF a Platform for Dialogue & Transparency
SLIDE 10 IEF Members Account for around
Global Oil and Gas Supply & Demand
SLIDE 11
IEF Values Neutrality & Engage all Stakeholder's
SLIDE 12
The IEF‘s Unique Value Propositions
Neutrality Promoting Inclusive Global Energy Cooperation Energy Data Transparency (JODI)
SLIDE 13 JODI Created to Addresses Energy Price Volatility
20 40 60 80 100 120
0% 20% 40% 60% 80% 1998 2001 2004 2007 2010 2013 $/b y-o-y
Oil
2 4 6 8 10 12 1998 2001 2004 2007 2010 2013 $/tcf
Gas
5 10 15 20 25 30 35 40 45
0% 5% 10% 15% 20% 25% 1998 2000 2002 2004 2006 2008 2010 2012 2014 $/st y-o-y
Coal
Source: EIA
SLIDE 14
JODI: A Positive Image of a Transparent Energy Industry
SLIDE 15
JODI: A Positive Image of a Transparent Energy Industry
SLIDE 16
JODI: Visible Cooperation by the Industry
SLIDE 17
JODI: A Positive Image of a Transparent Energy Industry
SLIDE 18
JODI-Oil Reach (100+ Countries)
SLIDE 19
JODI-Gas Reach (75+ Countries)
SLIDE 20 JODI (Transparency ) Benefits
- Reduces market volatility
- Supports sound decision-making
- Encourages investments
- Concrete outcome from producer- consumer
dialogue
- Improve Image of Industry
SLIDE 21 Suggested Steps to Improve Image
- 1. Overcome historical legacy (new thinking)
- 2. Bring human face during crisis
- 3. Expand R&D & cultivate creativity
- 4. Communicate positive stories of industry
(fighting poverty, social responsibility, etc.)
- 5. Learn from other industry such as Airline
- 6. Bring young minds to join the industry
- 7. More Transparency – More Transparency
SLIDE 22 www.ief.org www.jodidata.org
