Petroleum Economist
China’s crude appetite: here today, gone tomorrow
Oil demand is poised to improve as the economy gradually reopens. But full recovery is being constrained by the global effects of Covid-19
Perfect storm strikes Venezuela
Oil production poised to plummet as global economic conditions prove nightmarish prospect for the country’s energy sector
Gas and LNG brace for tougher times
The global gas market faces choppier waters on demand uncertainty, overbuoyant supply and lower-for-longer oil
China turns the taps off
Economic growth may be rebounding, but demand for Latin American crude remains minimal
May 2020
The May 2020 issue of Petroleum Economist is out now!
Energy Transition Review
The Energy Transition Review is out now!
Argentinian shale suffers further setbacks
The government was relying on Vaca Muerta to solve its financial problems. But another default looms as Covid-19 disrupts growth plans
Navigating Norway’s cut
The non-Opec nation’s decision to join in mandated production restrictions is headline grabbing. But the material impact is open to question
US set for a bumpy ride
The shale patch may face a prolonged road back to health, agree the PE Live 1 panellists
Oil demand faces an uncertain future
A recovery in demand is key to getting the oil market back into balance. But both short and long-term prospects are clouded
Logistics no barrier to deal making
The current M&A market environment is challenging, but deals can still get done
Liberia perseveres with licensing round
West African country presses ahead with plans to auction offshore acreage
US electricity prices turn negative
Plunging domestic energy demand is raising concerns that Covid-19 will slow the growth of renewables
Private equity ready to play M&A role
The capital is there, but the amount and cost of funding may be less favourable than it has been in the past.
Covid-19 may not justify force majeure
The declaring party will need to demonstrate a causal link between the pandemic and the reason it is unable to fulfil its obligations
IOCs put on show of strength in bond markets
Majors have issued bonds and cut expenditure in equal measure, ensuring a buoyant market for their debt
No respite in Yemen
The oil price collapse dims hope of an energy sector revival, while civil war grinds on
Carbon offsets regain support
The trading of carbon credits will take an increasing role in hydrocarbon supply chains over the next decade
Price crash may fuel contract renegotiation push
A prolonged era of sustained lower oil prices could result in widespread pressure to renegotiate contracts
JOG goes back to the future
A field already in decommissioning holds no fears for the North Sea newcomer’s bold regional plans
Independents vulnerable to debt trap
A combination of aggressive cost-cutting and judicious hedging has given at least some independents a fighting chance of coming out the other side of the coronavirus crisis intact
Canadian oil industry in dire straits
Production across the country is in freefall, prompting oil-rich province Alberta to plead for financial support
Turbulent times shine a light on imperfect contract structures
The pandemic provides an opportunity for a significant reset of contract structures
National priorities shape NOC strategies
The state of countries’ finances—together with their exposure to market volatility and the pandemic—is determining funding possibilities for state oil companies
A systemic approach to a lower carbon future
Oil and gas companies should embrace the inevitable transition away from fossils and look forward to the benefits of clean power
Gazprom chases China gas expansion
Now the Power of Siberia is operational, the Russian major is exploring additional pipeline options
Decarbonisation is a movement, not a moment
Consumers will demand that the energy transition progresses even if it is temporarily knocked off course by Covid-19
Demand doubts dampen investor sentiment
Concerns over the long-term future of oil exercise US investors’ thinking
Capturing opportunity in the energy transition
Oil and gas companies can continue to thrive through greater efficiency, decarbonisation and the expansion of renewables
Like a bat out of hell part one: Energy implications
The first of a five-part series from the BRG energy and climate practice analyses the impact of Covid-19 on the global economy and the demand for and supply of energy
Like a bat out of hell part one: Energy implications (1)
The first of a five-part series from the BRG energy and climate practice analyses the impact of Covid-19 on the global economy and the demand for and supply of energy
Mexico swims against the tide
Reviving bidding rounds seems the rational answer to the country’s upstream woes. But the government remains defiant for now
East Med gas going nowhere
Lebanon’s first offshore well was dry, exploration off Cyprus is on hold—the region’s glitter is looking distinctly faded
Saudi Arabia braces for impact
The kingdom may have to pay a steep price for its efforts to reassert leadership in oil politics
LNG: Intercontinental to inter-regional?
Price differentials are threatening the economics underlying global LNG arbitrage. But the lower prices may unlock competition within regions
Like a bat out of hell part two: The outlook for oil
The second in a five-part series from the BRG energy and climate practice looks at the impact of Covid-19 on the global oil market and the trajectory of its recovery.
Like a bat out of hell part two: The outlook for oil (1)
The second in a five-part series from the BRG energy and climate practice looks at the impact of Covid-19 on the global oil market and the trajectory of its recovery.
Canadian oil firms battle for survival
Profits plunged during the first quarter for a sector already struggling to contend with growing debt and a shortage of midstream takeaway
PE Live: OFSE sector being reshaped by downturn
Oilfield services and equipment companies that survive the era of low prices are likely to emerge leaner, more innovative and with a greater focus on green energy
Energy storage is driving the transition
Constant advancements in battery technology, supported by the adoption of electric vehicles, are facilitating the energy transition
Muscat's oil plans in disarray
The sultanate’s upstream development projects have taken short and longer-term hits
Like a bat out of hell part three: Gas more resilient than oil
The third in a five-part series from the BRG energy and climate practice evaluates the impact of plunging oil prices on natural gas and LNG
Like a bat out of hell part three: Gas more resilient than oil (1)
The third in a five-part series from the BRG energy and climate practice evaluates the impact of plunging oil prices on natural gas and LNG
Ecopetrol positions for the rebound
The twin shocks of Covid-19 and the oil price collapse have severely impacted the company’s bottom line, but it is well-placed to bounce back
Green drivers lead to innovation for Pavilion
The Singapore LNG company's new GHG requirements could help set an industry standard
US indies batten down the hatches
The sector is largely relying on balance sheet resilience to outlast the downturn. But without an imminent oil price recovery the threat of bankruptcy looms large
France bets big on offshore wind (1)
The country will accelerate its move away from fossil fuels and even reduce its iconic nuclear fleet
France bets big on offshore wind
The country will accelerate its move away from fossil fuels and even reduce its iconic nuclear fleet
US producers scramble for storage
Companies are looking at creative temporary solutions as capacity fills up
Book review: GCC—a fatal schism
Through a combination of adroit use of its vast gas reserves and careful diplomacy, Qatar has learned how to survive life under blockade, a new book says
Tough times ahead for US refiners
Slumping global oil consumption, tightening margins and throttled-back throughput pile on the pressure
PE Live: OFSE consolidation needed to attract capital
Creating larger companies with a greater reliance on technology could provide the stable and larger returns that investors seek
Petrobras issues stark warning on oil
Brazilian heavyweight announces huge losses on assets it believes are no longer commercially viable
Different horses for the oil sands course
Norway pulls funding from Canada’s heavy, sulphurous crude as Saudi Arabia expands its footprint
France risks gas undershoot
The need for flexible back-up for renewables and nuclear plants may mean the country needs more gas than it thinks
PE Live: OFSE sector should embrace the transition
As the pace of the energy transition accelerates, oilfield companies are increasingly applying their engineering expertise to a more diverse range of applications
Opec+ creates Central Asian headache for IOCs
Foreign companies tapping large fields in and around the Caspian Sea face tricky decisions on production cuts
Israel may see Turkish rapprochement logic
A break with its erstwhile East Med allies is unlikely, but a Turkish solution to Israel’s gas export conundrum could appeal
NGC prepares for brighter future for LNG
The LNG market faces challenges due to excess supply and the impact of Covid-19, but Trinidad’s state gas company has a strategy for the long term.
Covid-19 strains French nuclear model
Workplace restrictions could hasten the decline of France’s fleet of baseload generators
Angola revival stalled by global demand slump
Sharply lower oil prices mean the West African country will find it difficult to finance the investment needed to replace its ageing offshore fields
Engie commits to offshore wind (1)
The French firm is moving decisively away from its gas roots
Engie commits to offshore wind
The French firm is moving decisively away from its gas roots
Pollution drop could pressure India’s energy policymakers
The lockdown has markedly cleaned the country’s air. Will citizens demand permanent change or will economics trump climate concerns?
Pollution drop could pressure India’s energy policymakers (1)
The lockdown has markedly cleaned the country’s air. Will citizens demand permanent change or will economics trump climate concerns?
Covid-19 is accelerating the move to renewables
The pandemic and resulting fall in demand for energy is hitting the willingness to fund oil and gas projects more than those involving renewable energy
Covid-19 is accelerating the move to renewables (1)
The pandemic and resulting fall in demand for energy is hitting the willingness to fund oil and gas projects more than those involving renewable energy
Covid-19 is accelerating the move to renewables (2)
The pandemic and resulting fall in demand for energy is hitting the willingness to fund oil and gas projects more than those involving renewable energy
Deep in the heart of Texas
From the ashes of the collapse in oil prices comes the opportunity of the energy transition
CO2 shrugs off the Covid-19 slump
Future policy assumptions support the EU ETS after initial hit
CO2 shrugs off the Covid-19 slump (1)
Future policy assumptions support the EU ETS after initial hit
Nord Stream 2 hits two more hurdles
Controversial Russian pipeline project suffers two more setbacks in its TPA exemption fight
Chinese energy demand makes tentative recovery
A rebound in oil demand and gas consumption remaining largely unscathed are encouraging signs, but a global economic slump and trade tensions could undermine further progress
IEA warns of investment chasm
Energy funding poised to plunge as renewables fare better than fossil fuels
IEA warns of investment chasm (1)
Energy funding poised to plunge as renewables fare better than fossil fuels
Clock ticking for Oxy
Producer in race against time to generate funds needed to pay down mounting debts