CNBC EXCERPTS: CNBC BROADCAST LIVE CERAWEEK BY IHS MARKIT TODAY, TUESDAY, MARCH 6
Mar 06, 2018 | 512 views | 0 0 comments | 5 5 recommendations | email to a friend | print
 

CNBC EXCERPTS: CNBC BROADCAST LIVE CERAWEEK BY IHS MARKIT TODAY, TUESDAY, MARCH 6

CNBC’s Brian Sullivan and Jackie DeAngelis Report for the Network 

Following are excerpts of CNBC interviews with aired across CNBC's business day programming today live from CERAWeek by IHS Markit in Houston, TX including: Mohammed Barkindo, OPEC Secretary General; David Farr, Emerson Electric CEO; Osmar Abib, Credit Suisse; Charlie Leykum, CSL Capital Management; Jack Fusco, Cheniere CEO; and Bob Dudley, BP CEO.

For a roundup of all CNBC's coverage of CERAWeek by IHS Markit, go to: https://www.cnbc.com/ceraweek/.

All references must be sourced to CNBC.

Mohammed Barkindo, OPEC Secretary General

Video of the FIRST ON CNBC interview on CNBC.com: https://www.cnbc.com/video/2018/03/06/mohammad-barkindo-discusses-the-oil-industrys-need-for-capital-in-an-exclusive-interview-with-cnbcs-brian-sullivan.html?play=1.

If the trend of the last 2-3 years continues, and God forbid, we will be sowing seeds for future global energy crisis that nobody wants to see. So we remain optimistic that the global financial community together with the energy industry will bring back this issue on the forefront of our agenda. We need to catch up with the lost investment opportunities that we had going forward, in order to restore stability on a sustainable basis. The lack of certainty is a big concern to the financial players.

David Farr, Emerson Electric CEO

Video of the EXCLSUIVE CNBC interview on CNBC.com: https://www.cnbc.com/video/2018/03/06/i-dont-like-the-concept-of-tariffs-david-farr-emerson-ceo.html?play=1.

What will happen is the industry pricing will go up and that go through the whole industry and that will impact what happens to the oil and gas industry. How much investment. So prices will go up, maybe investments will slow down a little bit. We have to sort through it. I don't like the concept of putting tariffs, if you want to do surgical actions, go ahead and do surgical actions. But doing broad tariffs like peanut butter is not good for any industry.

Osmar Abib, Credit Suisse 

Video of the interview on CNBC.com: https://www.cnbc.com/video/2018/03/06/how-much-investment-is-needed-in-energy-industry-experts-weigh-in.html?play=1.

Osmar Abib on a Saudi Aramco IPO:

I think it's an extremely well-positioned company and they're at par with any major global oil company. What might change close to the IPO with public shareholders is that they're going to have to be more sensitive to have a public shareholder base. And so they'll be focused on attending to those shareholders. I think things like corporate governance, disclosure, those sorts of things and I think they will also have to be attentive to shareholders who have maybe slightly shorter time perspective than the Kingdom currently does today.

Charlie Leykum, CSL Capital Management 

Video of the interview on CNBC.com: https://www.cnbc.com/video/2018/03/06/how-much-investment-is-needed-in-energy-industry-experts-weigh-in.html?play=1.

Charlie Leykum on capital necessary to meet bullish oil production goals:

Despite the improvement in macro environment, since we last sat down a year ago, the availability of capital for oilfield service companies has still been quite limited. You've had traditional commercial banks in Houston not looking for new loans to oilfield service companies, you've had the capital markets be open but open selectively to companies largely that were restructuring their balance sheets coming out of the downturn. So a lot of the capital that's been raised over the last year or deployed has largely been to fixing balance sheets and getting companies positioned from a normal course perspective.

Jack Fusco, Cheniere CEO  

Video of the interview on CNBC.com: https://www.cnbc.com/video/2018/03/06/cheniere-ceo-just-the-beginning-of-a-long-term-relationship-with-china.html?play=1.

Jack Fusco on China relationship:  

We've spent the last year and a half working with China trying to help them with their air quality issues. We've sent them 35 cargos of LNG to date, we've got multiple contacts with them, different terms, 6 months, 2 year, 20 years, 25 year contract with them. So we believe it's just the beginning of a long-term relationship and we've trying to help both companies have a better relationship.

Jack Fusco on clean energy:

When we look at displacement fuels, natural gas is a cleaning burning fossil fuel that's reliable. And that's where our opportunity is. That's why demand in our product LNG is so strong. In China we saw a 50% year over year increase in LNG demand. We're providing a very competitive affordable reliable opportunity for them to get to a cleaner burning fuel source.

Bob Dudley, BP CEO

Video of the EXCLSUIVE CNBC interview on CNBC.com: https://www.cnbc.com/video/2018/03/06/bp-ceo-on-energy-demands-of-the-future.html?play=1

Bob Dudley on capital:

Well I'm not sure there's a shortage of capital because we're gonna do more with less money. The cost structures have come down all around the world. And I think we're not necessarily shorting investments. There's huge investments going in the U.S. and shales … there are big projects around the world. Decline rates are being managed. So I'm not a buyer that somehow we're not investing enough.

Bob Dudley on renewables:

Renewables has a big role to play. I believe it's in combination with natural gas, the intermittency, when winds aren't blowing and the sun isn't shining, combining it with natural gas has got to be part of the answer of answering the power. And putting a price on carbon globally should allow these things to be more and more economic.

Bob Dudley on clean energy: 

You do it on the margins of developing a project. You sell electricity in countries that need it, or are short of it. But then you save the natural gas, or coal, that you were burning and put it down the pipeline for other uses. It's a combination. Then you have a trading organization that could buy and sell electric power. There is a business model there. But it's one of margin rather than – rather than, you know, home-runs. 

Bob Dudley on EVs: 

EVs are needed. They're needed to improve air quality. We'll use our retail sites which have retailing as well, Liquid fuel and charging sites over time. So someone can come and get their charge, they'll be shops, there will be things that they can buy. It can be a business there as well. It's going to take time, it's not gonna be overnight. But there's clearly an evolution.

For more information contact: 

Jennifer Dauble

CNBC

t: 201.735.4721

m: 201.615.2787

e: jennifer.dauble@nbcuni.com

Emma Martin 

CNBC

t: 201.735.4713

m: 551.275.5221

e: emma.martin@nbcuni.com

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