Feb 2021

The US major has supported the accord since its adoption in 2015

The US major has supported the accord since its adoption in 2015

There is huge potential for offshore wind in the Black Sea, but the new government must quickly adopt a sound regulatory framework if it is to attract investors.

China dominates the global market for materials essential for EV batteries, and manufacturers are seeking to diversify their supply chains

The February 2021 issue of Petroleum Economist is out now!

The Anglo-Irish producer is narrowing its scope for another transitional year

Support from strategic partners Russia and China has helped the Latin American regime endure punishing economic sanctions. But over time their approaches have begun to deviate significantly

US and China appear to be on a collision course, as the global economic power balance shifts

Australian fund manager makes a premium bid based on the firm’s move away from gas, LNG and international expansion

Australian fund manager makes a premium bid based on the firm’s move away from gas, LNG and international expansion

The energy secretary nominee’s rhetoric is thus far placatory. But her record suggests the oil and gas industry should buckle up

A virtuous cycle of falling renewable energy costs means we are progressing into an era of increasing abundance

Developing carbon capture and storage will be essential to the oil and gas industry remaining relevant

Developing carbon capture and storage will be essential to the oil and gas industry remaining relevant

Major aims to commercialise emission-reduction technology, with an initial focus on extending its involvement in CCS

To reach maturity critics need to be convinced that decarbonisation is meaningful and permanent

Second major discovery improves prospects for bringing gas to market but is no panacea

Widespread energy and electricity shortages over the past two months amid exceptionally cold weather serve as a bruising reality check

Saudi Arabia’s production restraint may boost prices in the short term, but it may also assure the Kingdom greater market control in the longer term

Rapid delivery at scale of CCUS and hydrogen will depend on government policy, transferrable skills and technology

Brexit has not helped the bond issuance capital of Europe, but the UK was already behind the curve

The long-term cost savings from the shift to renewables, after accounting for avoided fossil fuel costs, will offset much of the short-term capex and maintenance costs

Chinese-Canadian firm says high costs of CCUS can be mitigated if extracted carbon is used to create valuable products

CEO Bernard Looney is confident the business is bouncing back from pandemic impact even though profitable renewables projects remain hard to source

Technology capable of generating power from lower water temperatures is opening up substantial potential

Coal-to-gas switching could be undermined by proposed regulation excluding gas infrastructure from energy priority scheme

Microsoft joins leading energy and technology organisations to develop an AI open ecosystem that will help advance the transition to net-zero

Defining its role in the energy transition is not the only tricky road the LNG industry must travel. Unlocking its full potential through promoting a diverse and inclusive future is another

The North Sea producer is increasing, but reorganising, its debt to fund acquisition

A long-term federal waters embargo would trigger severe production losses in the region, forcing firms to withdraw capital

Senegal’s flagship developments are beginning to shrug off Covid-19 impacts

The province has potential, but it needs big finds and it needs them fast

Oil and gas majors need to comprehensively reimagine their futures, ending the central role played by fossil fuels and plastics in the economy globally. This first instalment introduces fundamental principles

Environmental activism has proved key in derailing state plans to develop more coal-fired power stations

Oil and gas majors need to comprehensively reimagine their future, ending the central role played by fossil fuels and plastics in the economy globally. This instalment examines short-term strategies, including the preserving the social licence to operate

ExxonMobil is the latest to announce progress on tackling upstream emissions of the potent greenhouse gas, and many are strengthening their commitments

Oil and gas majors need to comprehensively reimagine their future, ending the central role played by fossil fuels and plastics in the economy globally. This installment examines medium-term strategies including broadening companies’ product portfolios

Capture and storage of CO₂ is attracting interest from non-energy corporations seeking to achieve net-zero emissions

Steep losses from the oil crash of 2020 were expected and eyes have already turned to renewables strategy

US diplomatic goals, if achieved, will impact the Iranian, Saudi and Yemeni energy sectors

The industry needs to reduce the emissions associated with natural gas for it to preserve its role in the energy mix and energy transition

Recovering oil prices will not be enough to convince producers to stump up additional cash, but investors may still benefit from a substantial dividend pay-out

BP and Total enter consortiums as part of a strategy to pivot towards renewables

The Emirati heavyweight is doubling down on capacity expansion

The Gulf state takes FID on four more trains but is already looking at going beyond its 126mn t/yr goal

Oil and gas majors need to comprehensively reimagine their future, ending the central role played by fossil fuels and plastics in the economy globally. This installment examines the long-term evolution of organisations

Solar industry says biomass subsidies are unconstitutional amid doubts over decarbonisation credentials

Asia’s biggest gas market has a way to go to meet its storage capacity targets

Economic growth will boost the country’s requirements to ship in fossil fuels

Europe’s largest port wants to expand into bio-LNG production and bunkering, expecting demand for LNG as a marine fuel to continue to rise

Nosediving revenues are forcing companies to shift capital to international assets

Total's liquefaction project remains on schedule to come onstream in 2024 despite the country’s deteriorating security situation

The surge in trading cannot be explained by fundamental demand from utilities

French major recorded a loss for the pandemic-hit year but made important advances in renewables

Member states are pushing for a rethink of the proposed sustainable reporting criteria, including for coal-to-gas and biofuels

The country’s NOC is fast-tracking development of Sakarya, but any need to bring in partners could complicate progress

Regulators must provide a stable framework for oil and gas companies to invest, if their expertise is to be fully utilised

City gas firms will be benefit from policy support and a recovery in construction

Solar could become the main source of electricity generation in India within a decade—if intermittency can be managed

Revenue from oil and gas will be needed to pay for its transition into a greener company

President Biden is very likely to at least partially reinstate Obama-era Cafe standards while California is on the verge of regaining the ability to set its own standards

EU edges closer to import duties based on carbon content amid concern about impact on international trade

Exchange to launch new tools for LNG shippers to manage risk

Divestments have struggled to get going amid tough economic conditions, but could the first refinery sale prise open the door?

The build-out of EV chargers in the EU risks diverging from political ambition while trailing an expected vehicle sales boom

The UK’s biggest pension schemes are setting sweeping targets for reducing the emissions associated with their investment portfolios

CEO says reducing emissions will not hamper upstream operations and future profitability lies in working more closely with customers

UK carbon market delays mean domestic utilities are calling on the EU ETS to fulfil their requirements

The world’s leading LNG exporter is tackling its equally pre-eminent CO2 emissions

Financially beleaguered producer reaches debt compromise, allowing it to focus efforts on boosting Vaca Muerta supply

Beijing has made big promises on emissions, but China’s NOCs are still going for gas

Six clusters have been developed—but not all of them meet the ideal criteria for the initial round of state funding

The East African country has struggled to make progress on proposed liquefaction developments and the window of opportunity may have already closed

New Delhi has revived plans for a gas pipeline to Jammu and Kashmir as it seeks to expand the country’s gas network

Renewables companies have enough capital without IOC investment, and collaboration as well as M&As will be vital for IOC looking to gain marketshare

European Commission has expressed concern about speculators driving up prices in the ETS

Investors pulling out would create a space for Beijing to fill

Certain themes dominate across the range of the major’s view of potential futures

Even the turbulence of 2020 has failed to cool the enthusiasm of Thailand’s NOC for further expansion

Global energy demand will recover as the pandemic recedes, but production in the Lower 48 may already have reached its apogee

The excitement surrounding renewable energy trading and markets appears to have much in common with the dot-com bubble of the 1990s. This first instalment examines the historical similarities

Certain themes dominate across the range of the major’s view of potential futures

The excitement surrounding renewable energy trading and markets appears to have much in common with the dot-com bubble of the 1990s. This second instalment investigates the skills required of market participants

Canada’s vast unconventional wastewater brine resource base means it is likely to become a major producer on the global market

Firms are at a strategic crossroads over whether to focus solely on hydrocarbons or pivot towards low-carbon energy sources, according to PwC

Firms are at a strategic crossroads over whether to focus solely on hydrocarbons or pivot towards low-carbon energy sources, according to PwC

The excitement surrounding renewable energy trading and markets appears to have much in common with the dot-com bubble of the 1990s. This third instalment considers the markets for gas and nuclear power

New energy transition technologies have brought with them a different set of risk factors for investors to understand

Blizzards in Texas have dramatically halted downstream activities, leaving opportunities for facilities still running

Recent M&A deals and recovering oil prices showcase the potential for further activity in 2021

Much of what the three European majors plan to do is remarkably similar. But Total’s dialogue is subtly different

Kiev wants to modernise and decarbonise its power sector—but is scaring investors away by retroactively cutting subsidies for renewables

PLSA head says institutional investors will put more pressure on oil and gas companies to improve their practices

Spanish firm highlights oil and gas price slump as cause of earnings woes during year in which it drilled new wells and put a big bet on renewables

The 100-year-old commodities analytics company is bringing price transparency to the energy markets of the future

Demand from electric vehicle manufacturers and potential to provide batteries for renewables-powered grids ensures demand remains high

The producer’s CEO tells Petroleum Economist about its recent acquisitions and the prospects for maturing oil and gas assets in Africa

Government is now in a race to meet newly ambitious clean energy targets

Shortening shipping times could deliver substantial gains to exporters, but they would still need to navigate the country’s complex regulation process

The US government has reiterated its commitment to defeating so-called Islamic State in Syria and says it is merely protecting the country’s oil from falling into the ‘wrong’ hands

Australia’s energy security takes another hit with ExxonMobil opting to shutter its Victoria refinery

This year will be critical to whether Mozambique can achieve its ambition of becoming a major LNG exporter by the middle of this decade

Projects in deeper waters and at higher specifications are more closely aligned with the offshore oil and gas industry’s strengths and provide portfolio decarbonisation benefits

The Lone Star State will need to think hard about whether it wants to maintain an independent electricity grid following the devastating failure last week

Once the parameters are established, the Netherlands’ offshore gas infrastructure could be capturing material volumes of carbon by mid-decade

Competition for a shrinking pool of capital may put the country’s older offshore oil and gas fields on the back foot in the coming years

Oil and gas developers in the semi-autonomous region are looking forward to a year of rebound

Investors are nervous about energy companies’ ability to chart a path through complexity to zero-carbon future

Glacial temperatures in southern states showcase lack of provision against extreme weather

Plans for the world’s largest offshore wind project will necessitate government support for expensive infrastructure improvements

Cyber threat actors are increasingly targeting renewable energy providers and other CNI installations to gain strategic advantage or financial gain, as an attack on a US water treatment plant has brought starkly into focus

The sheer scale of financial infrastructure around the crude market’s most important global benchmark means the wider trading market will largely shrug off any physical implications from a Fob-to-Cif switch

Too much weight is being put on CCS and offsets to decarbonise the energy sector

The electrification of the automotive sector shows that consumers can be guided to make transition-aligned choices when viable options are available

The surge in carbon prices in recent months is having disproportionate impact on carbon-intensive coal, prompting operators to switch to gas wherever possible

The deal between Pavilion and Qatar Petroleum Trading illustrates how creating offset-ready arrangements will impact trading relationships and legal risk allocation

The deal between Pavilion and Qatar Petroleum Trading illustrates how creating offset-ready arrangements will impact trading relationships and legal risk allocation

Chronic, acute power shortages are spurring efforts to develop renewables and capture flared gas

The energy transition means that countries such as Nigeria and Ecuador will suffer falling revenue and need to start preparing a strategy

The sector may still be in its infancy, but the industry’s prospects have improved rapidly over the last six months

International collaboration will be crucial to achieving the Democrat government’s bold climate agenda

International collaboration will be crucial to achieving the Democrat government’s bold climate agenda

Nigerian authorities want IOCs to develop new projects in the country, but uncertainty over the Petroleum Industry Bill continues to deter investment

Is it time to level-up corporate energy procurement for low-carbon hydrogen, following the successful use of PPAs for renewable electricity?

Is it time to level-up corporate energy procurement for low-carbon hydrogen, following the successful use of PPAs for renewable electricity?

What is ExxonMobil doing to prepare for a lower-carbon future while meeting energy needs of a growing population?

What is ExxonMobil doing to prepare for a lower-carbon future while meeting energy needs of a growing population?

Global head of sustainability and energy of global real estate Alec Saltikoff explains to Transition Economist how the US bank is pursuing its target

The LNG sector remains very bullish about the prospects for Asian demand in the 2020s

Major consuming countries’ net-zero emissions targets will drive rather than hinder growth, with trade set to double by 2040

Varo sees the potential for a desire to holiday but a reluctance to fly recreating the US phenomenon on the other side of the Atlantic

CEO of Canadian firm expects other majors to invest in the sector, which is benefiting from a technological renaissance

Consumers demand choice and traditional manufacturers have started to provide it