May 2021

The May 2021 issue of Petroleum Economist is out now!

New hydrocarbons law may represent a last-chance saloon for the North African producer

Landmark PV project signals Cairo’s growing renewables ambitions

Enphase is struggling to source microchip-enabled inverters – a key component in solar PV systems

The Biden administration wants to increase the size of America’s EV charging network by 400pc

Growth accelerates in Asia, but Europe remains dominant market

Region a strong candidate to become a major hydrogen exporter

Complex intra-day power markets increasingly require AI support. But it is important market actors have their own proprietary solutions

The end of guaranteed prices for renewables generation is sparking a revolution in risk management

The government has made remarkably little progress on its plans since unveiling the agenda in September 2020

Progress on limiting temperature rises to no more than 1.5°C to become clearer by year-end

Agency calls on governments to convince investors of need to ramp up supply of critical transition metals

The financial strain is starting to ease as the shale patch sees the effects of rising oil prices

There will be no immediate promotion into the super league of global crude benchmarks for the Middle East’s latest challenger

Supply chain resilience, intermittency issues and ageing grids all stand in the way of decarbonising power supply

Reaching net-zero emissions will require widespread deployment of all three technologies

The country is taking measures to encourage IOC interest in its latest licensing round

Post-combustion modular technology allows capture of emissions from most common sources of industrial process rather than just largest single source

Rebounding oil prices have boosted company balance sheets, but debt remains the priority over growth

The founders of Energy Quantified by Montel have built analysis models before. But this time they have torn up the rulebook

Baghdad turns again to China to develop its second largest gasfield

Riyadh and Abu Dhabi are exploiting existing ties to corner the region’s burgeoning clean energy sector

Production at Zinia Phase 2 comes after years of upstream stagnation

FID expected this year as developers target 2024 startup for one of world’s largest CCS projects

Small-scale solar plays big role in US market as installers ramp growth and pursue home batteries

Demonstrations against proposed tax reform have spread across the country, with an impact on oil and gas

The Kingdom is weighing up a potential midstream asset sale following an innovative funding move in the UAE

Developers in US, China and Vietnam rush to get projects connected in fourth quarter

The country’s latest spat with a foreign investor is likely to be just as self-defeating as previous disputes

Oil market recovery is financing a cautious renewal of spending on core domestic projects

Project in Scotland would have access to transport and storage infrastructure developed for the Acorn hydrogen project

The region’s hydrocarbons sector grudgingly accepts the inevitable rise of low-carbon energy, and the government is taking steps not to be left out

Markets are taking hold anyway but more work is needed to refine rules

Europe’s big utilities report mixed first-quarter earnings as switch to low carbon accelerates

Sizeable offshore potential and growing gas demand may not be enough to offset the difficulties

Go-ahead for first utility-scale offshore projects sends signal to investors

Operator balance sheets are benefitting from the uplift in oil prices, but many could miss out as the bulk of their production is locked into more muted pricing

Oil companies active in the country face difficult choices as pressure to disengage intensifies

Government moves to crack down on companies misleading investors over climate and overstating their green credentials

Even after the hydrocarbons law passes, would-be partners will not have troubles to seek

The rise of intermittent generation is not the only agent of change in electricity markets. Rule changes can also have a significant impact

Tender expected in June or July for 1GW of solar photovoltaic capacity as government decree mandates new ministry to undertake procurement exercise

With the 38 phases associated with Iran’s South Pars gas field nearing completion, focus has shifted to maintaining production stability amid pressure concerns

Reduced capacity factors and increasing renewable generation mean trend is accelerating

Approval of Vineyard Wind marks a point where supply chains will start to develop in earnest

New and existing domestic players are investing in regasification infrastructure to help meet surging demand

Emitters in the transport, technology, infrastructure, chemicals, energy and manufacturing sectors could connect to infrastructure

Paul McDade sees big opportunities among stranded assets in West Africa for his new company

Report lays out 400 milestones that must be reached across a variety of sectors

Hydrocarbons sector is embracing digital technologies to stay financially competitive, but innovation will also ease the transition to low-carbon energy

Closure of the Indian Point nuclear power plant last month raises issue of what to do with rest of fleet

In the new world of decentralised generation, batteries, EVs and more sophisticated demand-side response, almost any organisation of size is potentially a power market participant

The recent US midstream hack showcases the importance of building a robust cybersecurity foundation

LNG is the latest Australian export targeted by China in its trade spat with Canberra. Even limited moves represent an escalation in the standoff

The president of Riyadh-based thinktank Kapsarc sees the Kingdom as well-positioned for the industry changes to come

Resolution that would have required the firm to do more on near-term targets was rejected

Greater digital maturity is needed across the oil and gas sector to ensure efficiency gains meet sustainability imperatives

Greater digital maturity is needed across the oil and gas sector to ensure efficiency gains meet sustainability imperatives

Data-centric approach can help mitigate project cost overruns by simplifying workflows into single-source environment

Data-centric approach can help mitigate project cost overruns by simplifying workflows into single-source environment

Battery storage key to smooth out demand peaks as electrification at least doubles demand

Tax changes could see 20+ projects take FID

Surging pre-salt oil production will rely on the region for future revenues and rising exports

The Norwegian firm is looking for new opportunities on the continent

Fund will offer investors targeted exposure to solar value chain

Nigerian Vice President Yemi Osinbajo urges equitable energy transition for developing world and criticises growing reluctance of developed nations, banks and institutions to fund African gas projects

Facility in Permian Basin dwarfs existing plants with capacity to capture one million tons of CO₂ a year from the air

The African country hopes that a major pipeline, refinery developments and upstream reforms will help revive its stagnant oil industry

The companies are considering combining their oil, gas and LNG assets in Angola into a new joint venture

Bond was part of a much larger, six-part $18.5bn offering

Wave of recent refinery closures and competitive edge make consolidation increasingly less likely

Opportunities for foreign investment are being squeezed as authorities strive to roll back energy reforms

Erbil's long-held ambitions to sell its plentiful supplies to gas-poor neighbours move closer to fruition

Many jobs in more decarbonised 2030 workforce have a large degree of overlap with current roles

The two technologies will be key in the move to a net-zero economy, says Storegga CEO Nick Cooper

Portfolio rebalancing is helping boost M&A activity across the continent

The sector struggled to offset crushing demand losses in 2020, but recent M&A shows momentum change

The warmer months ahead promise margins upside

Large-scale windfarm would sit in North Sea area ideally located to supply electricity to Europe

Combination of technology and an integrated approach can deliver sustainable cities

Combination of technology and an integrated approach can deliver sustainable cities

UK plans acceleration in roll-out of electric and other low-emission vehicles as sales of new petrol and diesel cars end in 2030

UK plans acceleration in roll-out of electric and other low-emission vehicles as sales of new petrol and diesel cars end in 2030

China’s centrally controlled economy means it can pull a broader range of levers to reduce national emissions than many other states

China’s centrally controlled economy means it can pull a broader range of levers to reduce national emissions than many other states

Ruling orders major to reduce carbon emissions by 45pc by 2030 from 2019 levels

Shell has agreed to sell its stake in Malampaya, the Philippines’ largest productive gas field, as the major continues an aggressive programme of divestments

Merger showcases optimism in gas prospects but may not signal a wider shift towards multi-basin M&A

There are many reasons to be cheerful across the Mena oil and gas patch

The independent US explorer has expanded in Gabon and is looking elsewhere in the region

PwC’s Juergen Peterseim sees leading role for hydrogen as industries recalibrate for low-carbon future

PwC’s Juergen Peterseim sees leading role for hydrogen as industries recalibrate for low-carbon future

League table of large oil and gas firms show Europe leads US on climate targets and disclosure

Government could lose 60pc of oil and gas revenue over coming decades in a net-zero scenario

Firm gets shareholder approval for change in name and a climate strategy with interim targets

Combination of investor pressure and rallying carbon prices drive interest in technology offered by pure-play carbon-capture company

Supply of key battery material hinges on pace of investment in mining and processing

Dutch court ruling against Shell will embolden climate activists as focus shifts from governments to corporations

Investor pressure convinces Canadian company to confront emissions, but upstream growth remains focus

Investor pressure convinces Canadian company to confront emissions, but upstream growth remains focus

Drivers include tax incentives, opportunities for generating LCFS credits and federal policy support

Drivers include tax incentives, opportunities for generating LCFS credits and federal policy support