Please, tell us about your company?
Alaeddin I. Al-Badawna: I represent ADMA OPCO, Abu Dhabi Marine operating oil company. We manage the production from the offshore areas.
Could you forecast the global oil demand growth and crude oil prices in the future?
Alaeddin I. Al-Badawna: Of course, there is a big demand on oil production nowadays, especially from China and all the Far East, but China in particular. There are evolutions everywhere and they require energy; and energy comes from oil. So, there is a big demand on oil and gas
What is in your opinion the fair price for the crude oil today?
Alaeddin I. Al-Badawna: It is not fair. A bit expensive. About 35-40$. When oil prices are up, everything is up. That is why many people can't afford nor new products, neither the fuel, just basic needs. You can't have it. Why? Because the prices for all goods rise depending on the oil.
In Russia there is the same situation now, despite our country is an oil exporter.
Alaeddin I. Al-Badawna: Everywhere. Mostly the rich people can afford themselves to enjoy the life and whatever. I remember the recent increase in oil prices that affected people's life a lot. The costs of everything went up - the food supply, the products supply, some other goods coming from Dubai or Sharjah. Even the track drivers increased the prices because the fuel had become more expensive.
Do you see any prospects for the Russian companies in the Middle East?
Alaeddin I. Al-Badawna: I don't know, I don't think that some of them have been to the Middle East at all. There are no Russian companies, mostly the American ones, such as Total (Total is a France-based company. - Neftegaz.RU), or the British, such as BP and Shell. But there are many Russian people in Dubai (laughing).