Shell inspires collaboration in conserving vital resources at STLC

Updated 16 November 2013

Shell inspires collaboration in conserving vital resources at STLC

Shell Lubricants Egypt recently held its third annual Shell Technology Leadership Conference (STLC) in Marsa Alam, Egypt. The convention, which welcomed over 300 top local and international companies operating in Egypt, tackled the pressing issue of global sustainability while undertaking the theme “Energy — Water — Food: In Search of Resilience.”
The planet’s water, energy and food systems are tightly linked in the energy-water-food nexus. Water is vital to almost all forms of energy production; energy is needed for the treatment and transportation of water; and both water and energy are needed to grow food.
With climate change and rapid growth of the world’s population, there is increasing pressure on these vital sources at an unprecedented rate. As a result, by 2030, global demand for food and energy is expected to grow by over 40 percent. At the same time, carbon emissions need to be reduced.
If the world is to shape a sustainable energy future, these three pivotal components must be pertinently managed to avoid growing stresses. The STLC aimed to promote dialogue to find means to build a sustainable future, and to better understand the tensions between supply and demand in energy, water and food.
“Today, societies are facing significant challenges related to the growing world population, volatility in the world economy and political systems, climate change, and the nexus of water, energy and food,” said Jeroen Regtien, VP, country chairman and MD of Shell Egypt N.V., during his keynote speech. “To meet those needs without significant environmental detriment, business as usual will not be an option. We require business unusual.”
Regtien remarked that businesses are accustomed to serving people by building effective commercial collaboration, which drives innovation and business efficiency and positively impacts profits. But what businesses need to do better — and fast — is to improve their collaboration with other companies, with various sectors of the economy, and with government and civil society in different geographies around the globe.
Saher Hashem, MD, Shell Lubricants Egypt, expressing his concern over the nexus said: “We are admitting to the problems we face today and as partners in the triangle, we are here to find solutions to resolve these issues with local and international experts and to explain our responsibility and role in undertaking these issues.”
At the conference, a series of seminars discussed the complex issues posed by growing pressure on the planet’s essential resources, actively engaging over 300 experts from business, academia and NGOs.
Key conference speakers addressed vital discourse on measures taken for the continuity of these resources, while shedding light on the Egyptian economy. The talks focused on strategies to promote cross-sector cooperation, incentives to promote global societal resilience and the implications for businesses, societies and cities.
Tarek Tawfik, head of food security subcouncil, Egyptians Competitiveness Council, clarified how Egypt has the capacity to achieve a positive trade balance in its agri-food products within a decade, by adopting a comprehensive approach of economic and policy reforms that will maximize return on natural and human resources.
The conference also debated diverse scenarios to advise on collaborations to be made, in addition to current initiatives designed to promote sustainability of water, energy and food systems.
UNICEF’s representative in Egypt, Philippe Duamelle, pointed to how lack of food and water can have serious repercussions on society’s wellbeing demonstrating how using low-cost effective technology can reap outstanding effects for underprivileged children and their families in Egypt.
An underlying notion was the importance of communal interest in resolving issues of sustainability, as pointed out by Hussien Foda, VP supply chain operations Africa and Middle East, PepsiCo, expressing the company’s commitment to "performance with purpose: building a profitable and sustainable company, while ensuring a good steward of our planet’s resources."
Keynote speaker Tamer Abol Ghar, Philips’ country manager Egypt/Sudan spoke of the opportunities to reduce our energy consumption through using clean energy, and presented multiple on-ground scenarios that have succeeded to curtail energy usage in various industries.
Moving forward, Seddik Afifi, president of Nahda University, presented an integrated comprehensive vision to develop the Egyptian economy and achieve a stable political, social and democratic structure.
On STLC’s second day, the convention explored the latest trends and technology surrounding lubrication, oil analysis, energy reliability and best practices in manufacturing and energy production using Shell products. Topics covered included original equipment manufacturers relationships and technology leadership, increasing work efficiency, and industrial safety, among others.
On the fringes of the conference, Shell Egypt showcased its first two eco-marathon cars as participation by two Egyptian teams representing two public universities — Cairo University and Ain Shams University. The eco-marathon challenge involves building ultra-fuel-efficient vehicles and participating in the global Shell Eco-Marathon Challenge. The two teams from Egypt will participate for the first time in the Shell Eco-Marathon Challenge Asia event in February 2014 in Manila, Philippines.
Concluding the conference, Jeroen Regtien remarked: “The solution should be a comprehensive one, which includes all active members of society, as not one ministry can take on the job alone; the challenges are bigger than that.” He added: “One of the things that will need to be done is to explore the water and energy systems in Egypt on a life cycle basis. We call this an integrated energy master plan that not only covers all the energy system dependencies, but also looks at water used for production of oil and gas as well as power generation, electricity, transport and heating.”
As a business and shaper of the future energy system, Shell uses scenarios to peer into the future as an aid to strategic planning, which will be critical in shaping a future of resilience. Shell hopes that such proposed scenarios contribute to necessary dialogue about the types of choices and collaborations that can be made to realize a sustainable future.

Gulf Marine CEO quits after review sparks profit warning

Updated 22 August 2019

Gulf Marine CEO quits after review sparks profit warning

  • Tensions in the Arabian Gulf, a worrisome global growth outlook and uncertainty over oil prices have recently dampened investor confidence

DUBAI: Gulf Marine Services said on Wednesday Chief Executive Officer Duncan Anderson has resigned as the oilfield industry contractor warned a reassessment of its ships and contracts showed profit would fall this year, kicking its shares 12 percent down.

The Abu Dhabi-based offshore services specialist said a review by new finance chief Stephen Kersley of its large E-class vessels operating in Northwest Europe and the Middle East pointed to 2019 core earnings of between $45 million and $48 million, below $58 million that it reported last year.

A source familiar with the matter told Reuters that Anderson, who has served as CEO for 12 years, was asked to step down. Anderson could not be reached for comment.

The company, which in the past predominantly operated in the UAE, expanded operations and deployed large vessels in the North Sea and Saudi Arabia nine years ago and listed its shares in London in 2014.

Tensions in the Arabian Gulf, a worrisome global growth outlook and uncertainty over oil prices have recently dampened investor confidence.

The North Sea has seen a revival in production in recent years due to new fields coming on line and improved performance by operators following the 2014 oil price collapse.

Still, the basin’s production is expected to decline over the next decade, according to Britain’s Oil and Gas Authority.

“(The CFO’s) review has coincided with a pause in renewables-related self-propelled self-elevating support vessels activity in the North Sea, which will impact several of the higher day-rate E-Class vessels,” Investec wrote in a note.

Gulf Marine appointed industry veteran Kersley as chief financial officer in late May as it sought to halt a slide which has seen the company’s shares fall nearly 80 percent last year and another 23 percent so far this year.

The company said market conditions remained challenging and that it was still in talks with its financial advisors regarding a new capital structure.

“Management, the new board and the group’s advisors, have been in negotiation with the group’s banks on resetting its capital structure and progress has been made,” it said in a statement.

Last year, Gulf Marine said contracts were delayed into 2019 as the company was seen to be in breach of certain banking covenants at the end of 2018.

The company said it was still in talks with its banks and individual lenders with hopes of getting a waiver or an agreement to amend the concerned covenants.