Petroleum Economist
East Med juggles win/losses and win/wins
Rivalry continues to impact energy projects across the region. But collaboration will be essential to achieve economic potential
Operating models are the key to gas success
Global gas demand is certain to increase but exact predictions are impossible—so an end-to-end operating approach is required
Chinese LNG demand growth tapers off
A rise in imports fuelled by Beijing’s clean air initiative is threatened by the aftermath of trade tensions with Washington
Powerful new players enter the utilities sector
Oil and gas companies are entering the utilities market—aiming to take advantage of rapid market transformation
US withdrawal stirs the Middle East
Long-term adversaries are re-evaluating their allegiances in the wake of the US policy shift in the region
Oil demand to rebound in 2020
Macroeconomic factors promise to boost oil requirements and bolster prices, which may see the market spring a surprise
IMO 2020 to beckon in a new reality
The new regulations are poised to change shipping markets forever. Some participants may handle the new regulatory environment better than others
Global LNG overhang is not done yet
Gas prices may struggle to move significantly higher in 2020, despite a recent bounce
Corporates search for license to operate
As shareholders and banks increasingly question their business models and activities, oil and gas companies need to strengthen their social license
US lobs a grenade into a box of fireworks
Washington and Tehran may consider their next moves after drone kills top Iranian general, but restraint is the likeliest casualty
Refiners over a barrel?
Challenges and costs increase as ageing oil fields reach the ‘babushka’ stage
The LNG SPA and the energy transition
The long-term nature of gas and LNG contracts poses legal challenges which may be conventional or, depending on the shape of the low-carbon future, unexpected
The LNG SPA and the energy transition (1)
The long-term nature of gas and LNG contracts poses legal challenges which may be conventional or, depending on the shape of the low-carbon future, unexpected
‘America Third’ to turn down LNG supply
US liquefaction plants are typically cited as the first to turn down if the global LNG markets cannot absorb supply
Dividing lines appear in transition approaches
Differences have emerged between how IOCs and NOCs are tackling the energy transition—and the size of oil and gas reserves also has a big impact
Marine fuel regulation change to create African winners and losers
The African upstream may be well placed to benefit from IMO 2020, but it poses significant wider risks to the region
LNG to test market and infrastructure limits
The global LNG market will face significant change as a supply glut, infrastructure constraints and a rapidly restructuring market test market participants
Russia’s gas plans still mired in politics
The Kremlin will be focused on pipeline negotiations with the EU and the sanctions threats from Washington
Apache makes breakthrough Suriname find
US independent’s share price soars as oil confirmed in frontier province
Oil & gas credit quality stagnates
The recovery in credit risk across the global industry has slowed, due to several sources of disruption
Saudi Arabia’s bear hug
The kingdom is strengthening its ties with Russia as it nervously watches US political developments
How to decarbonise by 2050
Improved technologies, incubated by leading energy companies and new ventures, will be needed to realise decarbonised vision
Guyana oil discovery does little to bolster Tullow
An unwanted hat-trick of underwhelming oil finds fail to alleviate the whiff of crisis around troubled independent
Somalia takes big step towards licensing round
Mogadishu vote pushes major offshore find towards realisation amid rising security concerns
Electricity production is on a sustained charge
Renewable cost reductions and increasing storage availability will fuel exponential electricity growth
Electricity production is on a sustained charge (1)
Renewable cost reductions and increasing storage availability will fuel exponential electricity growth
Tentative reform moves could boost Sonatrach
Algeria’s new government presents a conciliatory face, which could help revitalise the energy sector and the national champion
Mena: a region of backhanders
A new book identifies corruption as a major factor holding back Middle East and North Africa (Mena) development —not least in oil-exporting states
Maduro further muddies Venezuelan waters
Regime’s attempt to seize parliamentary control creates yet another fracture in troubled Latin American nation
IMO 2020 promises widespread disruption
Large-scale changes in refinery operations will be just one of the major changes the new regulations will bring to the energy landscape
China targets Singapore bunkering
Chinese tax reform will trigger a gradual shift in the bunker fuel market away from Asia’s dominant hub
A long way to go for Aramco
The successful initial domestic listing of Saudi Aramco cannot disguise potential challenges—not least security and geopolitical threats—facing the IPO further down the line
Turkey’s dual Libya objectives
Moscow’s cooperation with Ankara in seeking a Libya peace deal implies Russian acceptance of Turkey’s controversial East Med maritime border claims
North Sea collaboration shot
Report suggests that UKCS actors are slipping back into bad habits
Map: Libya's conflict
This regularly updated map shows the ongoing conflict among rival factions seeking control of the territory and oil of Libya
Major oil find to boost Pemex growth
The gap between what the Mexican state-owned oil firm aims to produce and its president’s ambitious output targets could be partially plugged by material from new Tabasco discovery
South Africa to embrace off-grid generation
Africa’s richest nation will resort to allowing industry to generate its own power, to relieve pressure on beleaguered state utility Eskom amid load-shedding crisis
Russian oil hits another peak
The country’s 2019 production reached a further post-Soviet high, marking another year Moscow fell short of cuts promised to its Opec partners
Angola announces Namibe Basin awards
Partial success of 2019 licensing round sees Sonangol, Total, Equinor and BP take interests in blocks, leaving several other blocks open to offers
Iran-US conflict: more to come?
With the US’s killing of top Iranian general Qassem Soleimani, the risk of attacks on Mena oil infrastructure is likely to increase
PNZ patch-up raises offshore gas hopes
Belated reconciliation over acreage shared with Saudi Arabia offers relief for Kuwait's flagging oil expansion efforts
Share price falls pressure asset valuations
The underperformance of oil and gas stocks will lead auditors to closely examine goodwill and impairment testing calculations
COP markets failure may see UN by-passed
Independent efforts may gather their own momentum after deadlock in Madrid
Zama oil find targets 2020 FID
Upgraded resource estimate from Mexican field boosts hopes of a financial decision, but a serious potential roadblock remains
Transition leaders more optimistic on profits
Confidence in hitting financial targets is correlated with investment in efficiency and decarbonisation, finds DNV GL report
No quick fix for Tullow
The embattled producer warns of another year of sluggish production and project hold-ups
US-China deal to drive HK bunkering role
The phase one trade agreement signed between the US and China can revive Hong Kong’s standing as an international trading port, and points to its potential re-emergence as a supplier of bunker fuel
Rising costs test patience levels at Tengiz
Chevron is facing a significant uptick in spending at Kazakhstan’s Tengiz oilfield, challenging its renewed commitment to capital discipline
Senegal prepares to repeat licensing success
Hot on the heels of FID for its Sangomar oil project, the West African country is heavily promoting a promising licensing round
US states continue to lead on climate
Resistance is growing to federal unwinding of US environmental protections, while states are increasingly determined to take action
Pressure rises in PNG gas standoff
The P'nyang gas agreement is becoming a test case for the Marape government’s promise to stand up to resource extraction firms
US shale patch faces worsening headwinds
Mounting constraints on US light-tight oil only compound the hazardous task of predicting growth
Nigeria secures $2.5bn gas pipeline finance
Stakeholders will sign an agreement with Chinese lenders by Q2 2020 to fund the country’s biggest pipeline project
Colombian bid round: old and new challenges
A combination of social disputes and competition from Guyana and Suriname is hampering Bogota’s efforts to attract further investment
Trafigura targets Argentinian potential
Trading heavyweight acquires stake in President Energy, undeterred by the country’s financial and political risks
Ultra-deepwater progress boosts Myanmar’s options
The sanctioning of the Shwe Yee Htun-2 project suggests the government is finally aligning its interests with those of operators
In search of LNG demand and how to pay for it
Demand is striving to catch up with supply but the short-term future looks challenging
Climate change litigation is driving the transition
The huge court cases being filed against oil and gas companies are motivating them to invest in a low carbon future
Climate change litigation is driving the transition (1)
The huge court cases being filed against oil and gas companies are motivating them to invest in a low carbon future
Mozambique battles to overcome insurgency
An Islamic State affiliate has emerged as a serious threat to the gas projects in Cabo Delgado, but the authorities remain firmly in control
Nigeria endangers IOC interest for quick fiscal fix
The government’s revision of PSCs to seek more revenue from oil majors will backfire if it prompts them to reevaluate their portfolio investment priorities
Gas readies for its oil moment
The growth in spot LNG is transforming gas into a globalised commodity market
India’s ‘blue flame revolution’ gathers pace
Natural gas will play a pivotal role in underpinning the world’s fastest-growing major economy as the government grapples with its energy trilemma—to make its supply secure, affordable and sustainable
Gas pivot draws Premier lender’s fire
A switch to the perceived cleaner fossil fuel has been a popular narrative for E&P firms but a major creditor has raised price concerns
Canadian oil primed for modest recovery
Reversal of crude curtailments and improved capex spending are encouraging signs for the country’s principal producers
Iraq’s bounty risks bitter taste
After US-led mission helped to largely banish Islamic State from Iraq in 2018, the country has fast become a battleground for power in the region
Carbon price faces volatility
Unclear regulatory and energy outlooks cloud the EU ETS carbon market picture
LNG – Powering progress
Gas complements the peaks and valleys of power generated by renewables, providing a backbone that enables broader penetration of renewables into the energy mix
Indian LNG imports up 54pc in five years
While LNG volumes are increasing rapidly, the uneven distribution of infrastructure means that bottlenecks remain a barrier to growth
IOG breathes new life into SNS
Gas-focused producer sees growth opportunities in unloved discoveries
LNG ready to play its part
LNG will have a growing role in the electrification of the global energy economy, despite increasing headwinds from the anti-fossil fuel lobby
Libya’s Sanallah calls for external help
The NOC chief wants assistance to get the country exporting oil again
South Africa legislates for oil and gas future
The Ramaphosa government proposes new rules amid increasing global competition for IOC’s capital
ExxonMobil makes fresh Guyana discovery
The fledgling Latin American producer’s upstream reputation builds as firm announces yet another find