Current Affairs 2021: ADIPEC 2021 Agenda and Outcomes

By Aman Kumar

Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2021 provided a platform to the member countries to discuss the alternative energy solutions for the countries. Read here the suggestions made on the global platform.

Nowadays top countries of the world have pledged green energy. Climate Change and several illness factors that have arrived in this world are certainly the reasons behind adopting green energy. By looking into the factors like this, the society of petroleum engineers had organized a strategic Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2021.

ADIPEC 2021 Agenda

ADIPEC 2021 was a strategic conference where the discussion was conducted not only on the current situation of petroleum energy but also on the future factors that might affect the petroleum sector. There were leaders from the different departments such as Finance, Human Resources, Information Technology, Oil and Gas, and the top government officials from the different countries. And the discussion started with a point that how recent trends in these departments have transformed the Oil and Energy sector.

Also, the point of discussion was how the fast-paced technologies have changed the business of Oil and Energy sector. They had also highlighted a point that how the COVID-19 pandemic has affected the economy of OPEC countries. However, the major discussion was on the fact that how the future will be for the OPEC countries?

Several countries had given the pledge to become Carbon-free countries within 30-40 years. Green fuel is the future of the oil and gas industries. To transform this, many delegates from different companies had given the idea to work on green energy. Many of the points at the ADIPEC was that how to recover the market loss due to COVID 19 and how to transform the customers of the OPEC base countries?

There are various challenges that OPEC-based countries are facing currently. So, there was a discussion also that how to come up with a business of green energy. Because of climate change, many countries have already started working on green fuel because OPEC countries had faced the economic down issue. Market uncertainty and climate change have changed consumer demands not only in the terms of cost but for well-being also. Thus, there was a discussion of environmental sustainability to gain economic growth. 

ADIPEC 2021 Outcomes

Now coming to the point of the outcomes of this strategic conference since many of the countries had suggested the OPEC-based countries adopt recent technological changes in the energy sector that will not only transform their business but will also accelerate the oil and gas demands. This is only for a shorter period. For the longer sustainability, technological transformation, as well as green energy, will play a crucial role because of the climate change issue on earth. As the oil and gas industries are facing the downstream, OPEC countries should come up with an equal opportunity for all the countries all over the world, there should not be any biasness.

This will not only help in the market gaining momentum but will also be helpful in an economic turn-up for the OPEC-based countries. ADIPEC conference had helped analyse the factor points of UN’s COP 26 as well. COP 26 was a recent conference done by the UN in Glasgow and the discussion was mainly on climate change. It was also discussed that how oil and energy-based selling countries and their top consumers should transform their demand and supply so that in the future there should be less effect of climate change.