GCC Oil and Gas & Utilities: HSBC GCC Exchanges Conference takeaways

研报英文原文证据摘录

GCC Oil and Gas & Utilities: HSBC GCC Exchanges Conference takeaways

19 June 2026

GCC Oil and Gas & Utilities Equities Oil and gas & utilities

HSBC GCC Exchanges Conference takeaways GCC

◆ At HSBC’s 2026 GCC Exchanges Conference, pipeline and Ildar Khaziev*, CFA

storage capacity expansion projects were agenda priorities Senior EM Oil & Gas and Utilities Analyst HSBC Bank plc

ildar.khaziev@hsbc.com

◆ Still limited visibility on implications of the UAE’s exit from +44 20 7992 3302

OPEC for drilling and offshore logistics sectors Kim Fustier*

Senior Global Oil & Gas Analyst

HSBC Bank plc

◆ Retain Buys on ADNOC Gas, ADNOC Distribution, Aldrees, kim.fustier@hsbc.com

Empower, Luberef, Marafiq, and OQEP +44 20 3359 2136

Sriharsha Pappu*

Global Head of Energy & Materials

HSBC hosted the 2026 GCC Exchanges conference in London on 8-11 June. We HSBC Bank plc sriharsha.pappu@hsbc.com

present key takeaways from our meetings, along with quotes from recent media reports. +44 20 7991 9243

Kaushik Gopalakrishnan*

Diversification/contingency investments set to rise. Regional oil and gas Associate

producers are considering investments in alternative export options despite the Bangalore

re-opening of the Strait of Hormuz. This, however, does not seem to be high on the

agenda in Saudi Arabia yet, which enjoys greater export flexibility, but it could invest * Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is

not registered/ qualified pursuant to FINRA regulations

in oil storage capacity expansion internationally.

UAE’s exit from OPEC and outlook for drilling/logistics/EPC services. We have

not heard comments suggesting that possible oil output ramp-up in the UAE within

the existing 5mbpd capacity target would require expansion of in-house fleets of jack-