Aug 2021

The July/August 2021 issue of Petroleum Economist is out now!

Investors in developed economies need to help governments and firms in emerging economies gain access to capital markets, says CEO

Sabine Chalopin, Denham Capital’s ESG and Impact Director, talks about the firm’s methodologies for sustainability

The organisation may have smoothed over the cracks this time. But the UAE’s very public dissent may be just the first sign of things to come

New plan comes at the end of a decade where the energy sector focus has been on developing the country’s offshore gas resources

The three biggest state-controlled firms are pursuing divergent strategies towards a lower carbon future

Oil major confirms another Mozambican LNG project is on hold for security reasons

Quarterly results showcase upwards trajectory for oil producers despite the focus on capital discipline

An understanding that the Opec partners are better working together appears likely to keep the peace

Offshore wind investments in US and bids in Scotland will help to decarbonise firm’s portfolio

China’s economy faces headwinds that go beyond than the arrival of the Delta variant

It is easy to identify the sympathies of the authors. But that does not diminish the vivacity of the tale they have to tell

The major’s pooling of non-core resources with Italy’s Eni may be a model moving forward

Long-discharge capability also needed if batteries are to bring down grid power prices

Sixteen outstanding professionals are up for awards across four categories, with community voting now open

Sixteen outstanding professionals are up for awards across four categories, with community voting now open

South Asian importer hopes for price advantage compared with Brent

The company’s balance sheet benefitted from the commodity price upsurge in Q2, helping offset production outages

Report envisions a far faster decarbonisation process than more conventional scenarios

Strong domestic asset bases are helping drive financial performance at Occidental and ConocoPhillips and giving pause for thought on production guidance

The Australian gas development appears to be back on track despite last year’s FID postponement

A less volatile 2021 offers fewer opportunities for profit

Biden administration may still have options to increase funding pot, including reconciliation

Bottlenecks the result of the pace of subsidy provision, permitting problems and a lack of investment in transmission grids

Report calls for quick action by policymakers to stabilise temperature rises later in the century

Fading market volatility and rising global energy demand should boost the operator’s focus on pre-salt crude growth

National protest movement bruises company targets, but exploration prospects look promising

The shipment is part of a wider trend in East Asia

The country’s offshore upstream remains a draw for IOCs even as they grow increasingly selective about their portfolios

Colombia-focused producer plans to accelerate upstream growth and is eyeing licensing rounds

Positive CCS dialogue highlights an alternative path if the populist provincial leader can stomach it

Tower Resources has sold a share in the Thali development to Beluga Energy

Shipment to Japanese refiner Idemitsu fetches attractive premium to grey ammonia

New discovery should make a contribution to the South Asian nation’s energy security

Scrutiny on manufacturing in Xinjiang could open the door to polysilicon production in other regions as demand surges

The deal’s revised terms may require a greater focus on cost efficiency

President wields executive order to accelerate EV uptake, which remains stuck at around 2pc nationally

The operator is doubling down on its core Colombian asset base, divesting non-core assets across South America

The NOC had a better financial quarter in Q2 but will likely need significantly more money to hit upstream goals

Hardline rhetoric and positions apparently further apart than ever may obscure appetite for a deal

The Norwegian LNG liquefaction plant could be back before the end of Q1 2022, predicts stakeholder Neptune

The transition to Tomorrow's Energy System is already well underway. If our systems are to deliver on the ambitious climate change agenda the world has set, the work must begin now.

Santos joins the list of developers to withdraw from the region, deeming it too risky

Government review of green energy marketing will include examination of UK system for guarantees of origin certificates

The Argentine shale play hit new output highs recently, but doubts persist over monetisation

The market is in a considerably stronger position than it was last year, giving producers hope of sanctioning new capacity

The country has lifted its long-term production target to 8mn bl/d despite continued murmurings about IOC dissatisfaction

Various nations are seeking to secure regional influence by backing major projects in Pakistan that might otherwise struggle for finance

The producer is steadily increasing production from its flagship shale project and eyeing further M&A opportunities

Structure continues to shift as both buyers and sellers embrace shorter and more flexible supply contracts

The deal will create a significant player in the LNG market

Pilot could inform full-scale project to capture and permanently store 4-8mn t CO₂/yr, developers say

Solar sector provides 10pc of EU27’s power for first time during June-July peak period, Ember analysis shows

The hydrocarbons producer could look to unlock certain benefits by being in the regional low-carbon vanguard

The hydrocarbons producer could look to unlock certain benefits by being in the regional low-carbon vanguard

The firm is focusing its efforts on gas growth in the Vaca Muerta and widening its power sector footprint

The country is expanding into renewables and moving into green hydrogen production while reviving plans to import LNG

Consultancies warn that a sluggish demand outlook will largely prevent crude from joining in any sustained post-Covid price spikes

Price incentives support shift away from petrol models in country’s largest vehicle class

Airline first in its sector to back Europe’s only large-scale direct-air-capture project

Rise in carbon prices required by 2030 could serve as negative supply shock to global economy of similar magnitude to 1973-74 quadrupling of oil prices, thinktank says

The Australian independent plans to increase the gas project’s capacity by 50pc

Three of the basin’s largest players insist it is core. But it is hard to conclude that BP’s and Shell’s positions are fully optimised

Long-standing plans to reduce import dependence in the crude-rich nation might finally be making progress

The Latin America-focused producer aims to emulate the drilling successes of neighbouring blocks to diversify its portfolio

State-owned China Three Gorges accelerates overseas buying spree in wake of $3.6bn IPO

Supply- and demand-side factors pushed contracts to multi-year highs in recent months and may continue to lend support going into the fourth quarter

Business leaders are increasingly turning to technologies that drive down emissions and optimise energy efficiencies

Chinese state-controlled firm continues to bring new fields online to lift output

Contract award for the construction of a transshipment terminal is a step forward for the project

US market set for rapid growth, with both standalone and coupled storage projects gaining traction

Hopes that national crude production will eclipse pre-pandemic levels look distant after platform blaze in the Gulf of Mexico

Wind and solar growth has been insufficient in fully meeting post-pandemic increase in power demand, with many countries turning to coal

Successful drilling should significantly extend the UKCS field’s life

New codes would encourage developers to integrate small-scale batteries into new commercial structures

Political and financial motivations vary, but the region is noticeably lurching towards greater resource nationalism

$10mn contract and strategic partnership aims to improve fundability of large-scale DAC

The UK independent has a new name for its UKCS complex as it gears up for first gas in Q4

The state-controlled Chinese firm is boosting import capacity as domestic demand continues to rise

Solar accounts for more than half of capacity in pipeline, followed by onshore wind, offshore wind and battery storage

The technology is gaining traction as tax credits and rising carbon prices improve the economics of deployment in energy-intensive industries

Bill supports development and expansion of the hydrogen industry in the US through a mix of regulatory initiatives, federal grants and other incentives

Bill supports development and expansion of the hydrogen industry in the US through a mix of regulatory initiatives, federal grants and other incentives

Adoption of reactive, agile technologies is steadily growing in the oil and gas sector, but sourcing the personnel needed is still a challenge

Progress has been slow on both the liquefaction and regasification sides over the past 12 months, but numerous new developments are planned

The Calgary-based operator has managed to sidestep midstream challenges, charting a course to significant production gains

The company has plenty of onshore growth opportunities to match its midstream capacity and increase its stake in the country’s upstream

Heat pumps replacing gas for space heating will be offset by the need for the fuel to meet rising power demand

Power-from-shore for the GBA project could be significantly expanded