We are pleased to announce that our CEO, Dr. Carole Nakhle, was invited to deliver the Keynote Address at the SLB Reservoir Performance Customer Advisory Board (CAB) Meeting for the Middle East and North Africa (MENA) region, held in Paris on 24 April 2024.
Dr Nakhle’s keynote presentation, titled “Energy Markets in Transition: A Threat to MENA Oil & Gas?”, offered a timely and thought-provoking analysis of the shifting dynamics in global energy markets, with a special focus on the implications for MENA oil and gas producers.
In her address, Dr Nakhle explored the increasing resilience of the global energy system in the face of major disruptions—highlighting the transformative role of US shale oil and liquefied natural gas (LNG) in reshaping market responses and supply flexibility. She examined how the energy transition is redefining traditional notions of energy security, reminding the audience that true security lies in supply diversity—a principle that has gained even more relevance amid growing geopolitical uncertainties.
Dr Nakhle also raised a critical concern regarding the emergence of resource nationalism in countries rich in energy transition minerals and metals, warning of new vulnerabilities as global dependence on these resources grows.
Turning her attention to the MENA region, Dr Nakhle underscored the importance of recognising the region’s diversity, arguing against a one-size-fits-all approach. She explained how differences in resource endowments, fiscal structures, and political contexts will result in uneven impacts of the energy transition across MENA oil and gas producers.
Finally, her keynote addressed the rising significance of climate-related policies, such as carbon taxes and the Carbon Border Adjustment Mechanism (CBAM), outlining the potential consequences for energy-exporting nations—especially those that rely heavily on hydrocarbons.
We commend Dr Nakhle for her insightful and nuanced contribution to this high-level industry forum, and for continuing to shape critical conversations on the future of energy in the MENA region and beyond.
Related Analysis
“Why 2023 could prove to be both the worst and the best year for climate change“, Dr Carole Nakhle, April 2024
“COP28: A ‘historic’ climate deal?” Dr Carole Nakhle, Jan 2024
