The Peninsula reports from the International Petroleum Technology Conference that “the future of energy industry lies in technology. Technology must lead the industry agenda, captains of global energy industry said [Monday].”

“Attending a plenary session on the opening day of International Petroleum Technology Conference (IPTC), top executives of global energy companies said the industry need a right key to reopen the resource beds.”

The report continued: “Both the supply and demand sources are getting diversified in the changing landscape of global energy. On the supply side, [Bo Qiliang, Vice-President, PetroChina] said, the US is set to emerge as the world’s largest energy producer in the world by 2030. North America will also reduce the amount of energy dependency. However, Middle East will still be important oil supplier in the world, he said.”