IMD International


Energy Futures

  IMD Discovery Event November 26-27
Topic Energy Futures
Date November 26-27, 2007

1. Introduction:
Despite prices of close to $100 a barrel, the world is experiencing the fastest growth in oil demand in more than 25 years. Windfall profits rise, as do concerns about macro and microeconomic implications. What will be the effects on growth, investments and inflation in net-importer and producer countries? What will be the impact on sluggish exploration activities, reserve replacements, capacity expansions and hence energy supply? Will national resource owners adjust their development strategies? Are entirely new business models required? Will markets and regulatory initiatives deliver effective fuel substitution? To address some of these issues, IMD organized a research conference entitled “Energy Futures.” Eighteen international energy researchers, policy makers and executives discussed specific aspects of today’s energy industry and its likely evolution. This session briefly sketches various factors shaping our energy future in order to highlight the conference contributions and express a common concern.

2. New Upstream Business Models?
Observers of current upstream oil and gas developments often equate a change in a company’s strategy with a fundamental shift in its underlying business model. But they rarely reason the need for new business models based on an explanation of existing ones, their contexts and required modification. This session attempts to do just that. Following a brief discussion of the notion of a business model in general and in the context of upstream oil and gas activities, the discussion turns to different types of upstream players – global majors, independents, contractors and technical service suppliers, NOCs and host country governments – and the characteristic challenges each of them faces. It then proceeds, for each group, to explore the case of a particular strategy that may be

3. Governing Oil Supply:
Current oil price speculations – broadly concerned with fuel substitution or technological supply constraints - often fail to account for the role of national oil companies (NOCs). This may be because NOCs, habitually secretive and subject to political discretion, typically do not render information in any timely, market-relevant way. Or it may reflect the perception that NOCs simply operate outside the realm of conventional market, corporate and regulatory controls. But it is the NOCs that, by some measure, control roughly 90% of the global hydrocarbon reserves and whose operating and investment decisions affect prices, demand adjustments, but also their own country’s policy options. Recent endeavors to substitute analysis for prevailing economic and political clichés, clarify important but largely unconnected questions. The sessions charts an integrative approach.


The event takes place at IMD in Lausanne (Switzerland)

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General Information

IMD hosts a series of one and a half day discovery events throughout the year on the IMD campus. These events give you the chance to discuss IMD’s latest research with executives from all over the world.

Discovery events are open to executives from Learning Network member companies.

Registration for events is on a first come, first served basis. IMD does its utmost to accommodate all Learning Network members and retains the right to refuse, or to place on a waiting list "multiple" registrations coming from the same company.

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