Petroleum Economist
November 2020
The November 2020 issue of Petroleum Economist is out now!
Digitalisation Review 2020
The Digitalisation Review 2020 is out now!
Latest licensing rounds
The industry's most comprehensive list of current and recent rounds for onshore and offshore licences
PE Live: Shipping firms leading CO<sub>2</sub> charge set to reap rewards
Companies at the forefront of decarbonising shipping will benefit from membership of groups determining the future of the industry
PE Live: Shipping firms leading CO<sub>2</sub> charge set to reap rewards (1)
Companies at the forefront of decarbonising shipping will benefit from membership of groups determining the future of the industry
Chevron wades into Israeli gas price dispute
The major has ruffled Israeli feathers less than a month into its ownership of a key asset
Nigerian PIB stalls after inching forward
Senate completes second reading of the long-delayed bill before debate is adjourned for more than a month
Bankrolling the Vaca Muerta
Buenos Aires will pay out billions to keep the sector afloat despite Argentina’s stark economic crisis
Oilfield services sector stops the rot
The economic downturn may have stabilised in the US, but full recovery looks a distant prospect
Surge in Libyan barrels built on shifting sands
The North African producer faces significant challenges in extending, or even maintaining, its jump in output
ExxonMobil plans expansion into Namibe basin
With production declining at its existing Angola assets, the major acquires three licences off the country’s south coast
Perth Basin could upend Australian gas dynamics
The frontier province has the potential resources to displace offshore discoveries in the domestic market and even for export
Husky deal not the trigger for Canadian consolidation wave
M&A activity may have started to rally, but further big-ticket transactions look unlikely
FID delays boost Mena LNG export chances
Projects pushed back or cancelled elsewhere could offer opportunities for the region’s gas producers
FID delays boost Mena LNG export chances (1)
Projects pushed back or cancelled elsewhere could offer opportunities for the region’s gas producers
Cleantech to play limited role in determining Asian demand
Oil and gas requirements in the region are unlikely to hinge on wind and solar build-out or a move to electric vehicles, at least in the near-term
Cleantech to play limited role in determining Asian demand (1)
Oil and gas requirements in the region are unlikely to hinge on wind and solar build-out or a move to electric vehicles, at least in the near-term
Adnoc keeps busy
The Emirati NOC continues to expand its competencies and monetise assets
South Korean and Japanese ambitions face political hurdles
Moves by the two heavyweights to embrace clean power raise new problems that are yet to be resolved
Numbers start to add up for Net Zero Teesside
The Northern Endurance Partnership has been formed to provide offshore infrastructure to support projects
Small-scale LNG key to gas growth
Demand for gas is set to grow from sources beyond grid generation, such as projects to directly serve the burgeoning power requirements of datacentres
Small-scale LNG key to gas growth (1)
Demand for gas is set to grow from sources beyond grid generation, such as projects to directly serve the burgeoning power requirements of datacentres
PE Live: Easing unitisation tensions in Mexico
The outcome of upstream discussions could prove to be a turning point for the country’s energy reforms and the future of international participation
Eni considers biofuels acceleration
Excess power capacity and complicated market governance are contributing to providers’ unwillingness to further invest in solar and wind
Revamping the downstream
Digital solutions will play an important role in boosting Repsol’s refining segment and efforts to lower the company’s emissions
Revamping the downstream (1)
Digital solutions will play an important role in boosting Repsol’s refining segment and efforts to lower the company’s emissions
Revamping the downstream (2)
Digital solutions will play an important role in boosting Repsol’s refining segment and efforts to lower the company’s emissions
Transitioning to a data-driven energy market
Digital technologies can be key enablers to low carbon energy
Transitioning to a data-driven energy market (1)
Digital technologies can be key enablers to low carbon energy
Book review: Water threatens to disrupt Iraqi-Kurdish-Turkish relations
Diminishing sources of clean water and rising demand could increase tension between Baghdad and Erbil, as well as Baghdad and Ankara, a new book says
Letter from the Middle East: The counter-cyclical unconventional renaissance
While US shale firms batten down the hatches or seek M&A solutions to their problems, Mid-East Gulf unconventionals are enjoying a revival
Driving offshore longevity
Savvy producers increasingly recognise the operational benefits of using digital technologies to extend asset life
Driving offshore longevity (1)
Savvy producers increasingly recognise the operational benefits of using digital technologies to extend asset life
The road to data maturity
Oil and gas companies have made progress towards optimising their data, but many steps can still be taken
The road to data maturity (1)
Oil and gas companies have made progress towards optimising their data, but many steps can still be taken
The road to data maturity (2)
Oil and gas companies have made progress towards optimising their data, but many steps can still be taken
FSRUs helping LNG to penetrate emerging markets
Floating storage and regasification units are allowing economies to access the lower-carbon fuel source without expensive infrastructure
FSRUs helping LNG to penetrate emerging markets (1)
Floating storage and regasification units are allowing economies to access the lower-carbon fuel source without expensive infrastructure
Cheniere HoA may signal US-China LNG trade revival
Guangdong utility Foran has agreed to non-binding deal to delivery of cargoes, to add to the annual volumes it agreed to purchase from BP in July
Cheniere HoA may signal US-China LNG trade revival (1)
Guangdong utility Foran has agreed to non-binding deal to delivery of cargoes, to add to the annual volumes it agreed to purchase from BP in July
Flare capture offers easy wins
Reducing gas flaring can both accelerate progress to net-zero and offer a swift boost to industry credibility
Alberta shelves crude curtailments
The province’s decision to unwind restrictions hopes for better days ahead. But economics may be against it
Somalia poised for oil-based transformation
The government hopes that promising geology and attractive fiscal terms will attract the interest of IOCs to develop its offshore oil discoveries
US refiners slip into the red
Covid-19 demand destruction brings shut-ins and severe financial losses to the once-booming sector
Hormuz threats lose their sting
As Gulf states progress bypass projects, time runs down on Iran’s sabre-rattling
OMV bets on chemicals
The Austrian company is accelerating its pivot from the upstream to the down
Democratising advanced analytics
Digital tools can play a valuable role in helping companies glean insights from their data
Democratising advanced analytics (1)
Digital tools can play a valuable role in helping companies glean insights from their data
PE Live: Safeguarding Mexican investment
The suspension of licensing rounds may have disappointed the private sector. But international treaties offer crucial protection against further unwinding of the country’s energy reforms
Dutch pressed to double pace of emissions cuts
Environment agency says gas-dependent nation needs to dig deeper and introduce more measures to reduce GHG emissions
Europe’s delivered LNG and TTF prices diverge
The price of the continent’s spot LNG trade does not exactly match the benchmark
Europe’s delivered LNG and TTF prices diverge (1)
The price of the continent’s spot LNG trade does not exactly match the benchmark
Impact eyes double farm-out after South Africa expansion
London-based Impact Oil & Gas bets deepwater exploration has been substantially derisked by nearby mega gas finds
Outlooks diverge for German LNG projects
RWE remains bullish on Brunsbuettel while Uniper rethinks Wilhelmshaven
Outlooks diverge for German LNG projects (1)
RWE remains bullish on Brunsbuettel while Uniper rethinks Wilhelmshaven
Sonangol takes Cabinda refinery FID
Angolan NOC is moving forward with most promising project, but other downstream expansion plans remain in limbo
China’s refining recovery looks set to stall
Crude oil throughput at refineries broke records in October, but the market will not fully get back on track until next year
Bright future for Suriname and Guyana
Expectations are high after a string of upstream successes and both governments ending their political impasses
Gridlock for renewables in Vietnam
The government has set out an ambitious plan for renewables generation, but the underdeveloped grid will prevent transmission to sources of demand
Ultra-deepwater Namibe in doubt, despite ExxonMobil deal
US major’s investment boosted prospects of Angola’s beleaguered oil sector, but its blocks are unlikely to be economically viable without a crude price rebound
PE Live: International rivalry a major threat to climate fight
A scenario where countries jockey for economic advantage would undermine the ability of the world to tackle global warming
Letter from Norway: Tax stimulus medicine gets to work
New legislation aids the country in reaching peak hydrocarbon production. But increased interest in renewables still poses stranded resources risk
PE Live: Societal attitudes key to energy transition
Energy companies are increasingly engaged in decarbonisation—but this must be underpinned by behavioural change and action by elected representatives
The great gas investment divide
Gas’ part in the transition to a climate-neutral energy system is more controversial than for any other major source of primary energy
The great gas investment divide (1)
Gas’ part in the transition to a climate-neutral energy system is more controversial than for any other major source of primary energy
Iran backs Biden into a corner
Rejoining the nuclear deal might be easier said than done
Latin American M&A rallies
Asset sales in the region are again starting to lure buyers after a tough financial year
PE Live: European majors pin hopes on Cop26
Global leaders must come together and agree to a carbon price, transparent reporting and other measures if the Paris targets are to be met
European gas faces more winter price weakness
The impact of further pandemic lockdowns is compounding an already bearish outlook
European gas faces more winter price weakness (1)
The impact of further pandemic lockdowns is compounding an already bearish outlook
Mozambique’s ambitious northern gas plans head south
Natural gas was supposed to help industrialise the northern provinces, but after a string of project cancellations it will be transported to the more prosperous south
Mozambique’s ambitious northern gas plans head south (1)
Natural gas was supposed to help industrialise the northern provinces, but after a string of project cancellations it will be transported to the more prosperous south
PE Live: Asia Pac experts ‘bullish’ on LNG prospects
Low prices for LNG cargos and favourable emissions are boosting the construction of downstream facilities
Libya scrambles to protect output recovery
The Tripoli administration moves against its own central bank to try to prevent another blockade
Hammerfest outage helps sink Norwegian exports
The new Gas Year gets off to a torrid start even as oil continues its year-on-year increase streak
PE Live: Mexico’s downstream dilemma
Offshore production may be steadily climbing but lack of infrastructure and unclear offtake legislation threatens further growth
Total bets big on LNG bunkering
The French major expects LNG marine use to reach 10mn t by 2025, its head of marine fuels tells Petroleum Economist
Middle East energy transitions continue apace
Renewables, desalination and hydrogen are all attracting official support and investment
Middle East energy transitions continue apace (1)
Renewables, desalination and hydrogen are all attracting official support and investment