2. SOUNDBITE (English) Amin H. Nasser, President and CEO of Saudi Aramco:
"The oil and gas industry has been shaken by collapsed earnings, job losses and business shut downs. In fact, if the market weakness continues, we expect that around 1 trillion (US) dollars in marginal resources devolvement will be delayed or cancelled by the end of this decade."
3. Nasser sitting on the stage
4. SOUNDBITE (English) Amin H. Nasser, President and CEO of Saudi Aramco:
"We are optimistic. See, I highlighted in my remarks that the markets started to recover. We expect it to recover even more in 2017, and I think the time in 2018 will be almost right."
5. Wide of the conference with Bob Dudley, Group Chief Executive of BP, speaking
6. SOUNDBITE (English) Bob Dudley, Group Chief Executive of BP:
"BP, we're very proud of our investment and our involvement in the trans-Anatolian pipeline, or TANAP (Trans-Anatolian Natural Gas Pipeline) as it is called. It is being constructed from one end of Turkey to the other. It will be transporting 16 billion cubic metres of gas on its way to consumers here, in Turkey and in Europe. And this will increase - further increase - Turkey’s strategic importance as a corridor for gas, as well as a corridor for oil. The strategic importance is evidenced by the agreement that we have all read about, the 'Turkish Stream' project, with gas coming in from Russia as well."
7. Cutaway of cameraman
8. SOUNDBITE (English) Bob Dudley, Group Chief Executive of BP:
"Energy is only one of the many important sectors for climate change, and the climate challenge. But as energy companies we have a major part to play in the transition to lower carbon energy - and the lower carbon economy. We have a responsibility to provide more energy, as Amin said, because global demand is growing."
The chief executives of the world’s largest petrol companies, Saudi Aramco and BP, were in Istanbul on Tuesday attending the second day of the 23rd World Energy Congress.
During Tuesday's session, Amin H. Nasser of Saudi Aramco said the oil and gas industry "has been shaken by collapsed earnings, job losses and business shut downs."
However, he added the company was optimistic and that the markets had started to recover.
The current situation in the oil and gas industry was one of the important topics on table during the 2016 congress.
Russian President Vladimir Putin said on Monday that his country is ready to reduce oil production and supports OPEC's (Organisation of the Petroleum Exporting Countries) initiative to trim production as a way to support oil prices.
Putin criticised the surplus of oil and warned that the continuation of current tendencies will lead to a lack of financing, higher deficits and new price fluctuations that will hit both producers and consumers.
Speaking during Tuesday's congress session, BP head Bob Dudley hailed his country's involvement in the Trans-Anatolian Natural Gas Pipeline (TANAP) project.
The TANAP pipeline is intended to carry oil from Azerbaijan's Caspian Sea fields to Turkey.
It is expected to have a capacity of 16 billion cubic meters of gas a year and cost about 10 billion US dollars.
Dudley also said the new “Turkish Stream” agreement, signed between Turkey and Russia, was "strategic."
Ankara and Moscow on Monday agreed to build a gas pipeline from Russia as the two countries pressed ahead with efforts to normalise ties that were severely strained over Turkey’s downing of a Russian warplane.