Update: 2015-10-30 NBAS Breakfast Seminar with Statoil at THE STRAITS ROOM at The Fullerton Hotel

Short Term Pain – Long Term Gain?

Is the current market situation sustainable?

Oil and gas are here to stay!

Statoil's Wærness and Kolbeinstveit will explore the underlying factors behind the current low prices in oil and gas markets, including:

• Drivers for short-term change on the supply and demand side, focusing on shale oil and gas development, geopolitics, Opec strategy, Russia, LNG etc.
• Key uncertainties going forward
• Long-term demand for oil and gas in different scenarios for global energy developments

When: Friday 30 October 2015

Where: The Fullerton Hotel, The Straits Room, Level 4, One Fullerton Square (please note updated Meeting Room!!)

Time: 08:30 AM – 10:00 AM

Fee: Members: SGD 50 / Non-members: SGD 70

Register here by 23 Oct 2015

Eirik Wærness, Chief Economist and Vice President in Statoil, has a broad experience from government, academics and private sector companies, as advisor and in different leadership positions. In the period 2010-2013 he served as member of the Executive Board of the Central Bank of Norway. From 2014 he is a member of World Economic Forum’s Global Agenda Council on the Future of Oil & Gas. His experience includes different positions in the Norwegian Ministry of Finance, Total E&P Norway, Pöyry Management Consulting/Econ Centre for Economic Analysis, in addition to Statoil. In Statoil, he has been leader of Corporate Strategy, Corporate Planning and Analysis, Economic Analysis in Upstream Norway, Energy Market Analysis, and Mid- and Downstream Strategy in addition to his current role. He has also served as member of two public commissions/expert groups on tax reforms.

Olav Kolbeinstveit is Head of Market Analysis at Statoil. He joined Statoil in 2006 and has since then had several commercial positions within Natural Gas and Analysis. Prior to joining Market Analysis, he was a Market Manager focusing on Natural Gas sales towards Germany. Mr. Kolbeinstveit studied economy at the universities in Oslo and Bergen. After the studies he worked at the Norwegian Water Resources and Energy Directorate before joining Statoil.