Dec 2022

China is making strong efforts to kickstart its refining industry, and grassroots refineries are in their finishing phases around the globe

Companies seek commercialisation of mineralisation technology to store carbon in limestone aggregate

Efforts to find alternative sources of middle distillate have proven sluggish but are starting to ramp up

The mining company will develop 1mn t of in-house emissions offsets through projects on its existing land

The fate of the continent’s supply crunch may lie elsewhere—in China, the Middle East and Russia

The EU’s proposals to cap wholesale gas prices could result in unintended consequences

The government’s new focus on relatively small, state-funded refinery expansions and upgrades bodes well for long-awaited progress

Thinktank Niti Aayog says nation needs to capture and store 750mn t/yr of CO₂ to hit 2070 target

French independent Maurel & Prom is seeking to expand its Tanzanian portfolio

Storage site inspections and measurement, monitoring and verification are vital for oversight of sector, says IEA

World’s two most populous nations are central to global oil demand, but in different ways

One of the North Sea’s most anticipated exploration wells comes up short

A trio of major project announcements signal the Saudi heavyweight’s renewed focus on maximising petchems yield

The Middle Eastern NOC is tapping Malaysian expertise to help it develop an unconventional resource

The power-with-CCS project is the first of its kind to receiving planning permission in the UK

The number of projects benefitting from tax breaks is set to top 20

Firms will collaborate on hydrogen, CCS and offshore technology projects across various regions

US oil major’s scope three emissions push to focus on large-scale CCS, hydrogen and biofuels

Big oil and gas firms are making progress on carbon intensity and methane emissions

A divided Congress leaves President Biden with few options for pushing through his energy agenda

Opposition from producer countries made a commitment to ‘phase down’ fossil fuels impossible

Power generation fuel’s historical advantages of availability, affordability and reliability have once more prevailed as Russia’s invasion of Ukraine upends gas markets

Australia recently cut some funding for CCS, but reforms to the country’s Safeguard Mechanism may boost the industry

Carbon border adjustment mechanism will begin test period in 2023 and phase in slowly over course of the decade

As flexibility markets open up and evolve, they create new opportunities for businesses to realise value from their energy assets

History shows that the demand impact keeps any oil market spikes strictly temporary in nature

A worst-case scenario of the implications of the proposed legislation could be tensions that test the bloc’s very unity

Firm to take entire output of new 310MW project in Texas

Innovation Fund will supply €12bn, with €8bn coming from early auctions of ETS allowances

The industry might be poised to spend significant sums on low-carbon projects

The bloc’s plans are intended to shield consumers from high gas prices but have been criticised as unlikely to benefit end-users and for posing significant additional risks

International events, rather than infrastructure bottlenecks, have undermined prices for Western Canadian crude

Department of Energy launches programme to support development of four regional demonstration hubs for direct air capture at commercial scale

Tests will be carried on industrial flue-gas sources from Equinor’s refinery at Mongstad

Freight rates for clean tankers—the specialist vessels that transport refined petroleum products—reached multi-year highs in 2022 and are likely to remain strong going into 2023

The December 2022/January 2023 issue of Petroleum Economist is out now!

Outlook 2023 is out now!

High levels of demand are not translating into greenfield investments due to climate policies

The independent has run into difficulties over its expansion in Chad even as it launches its largest acquisition to date in South Sudan

The TTF is likely to stay at elevated levels to attract necessary volumes in the global market

New scheme for transport and buildings paired with tighter cap in existing system

Dutch government is set to underwrite contracts for CCS project while it pushes ahead with parallel Aramis development

The talks saw energy transition and development pathways being hotly debated, but these changes are already underway

The region’s main operators have oil price boom earnings burning a hole in their pockets, but they may well be largely deployed elsewhere

First phase involves capture of carbon dioxide emitted from Eni's natural gas treatment plant in Casalborsetti

The bloc is moving ahead with revised plans to intervene in the market

Development partnership will see two firms work together to capture CO₂ from two CCGTs in the Humber region

The golden age of gas has given way to the golden age of gas prices, with long-term implications for demand

The worst may yet be to come for European and global gas markets

The independent is poised to benefit from the new wave of interest in Uruguayan acreage

But Washington’s apparent detente with Caracas is unlikely to bolster global crude supplies significantly any time soon

Firm sees DAC as an increasingly important technology in the transition

Partisan political rhetoric has not prevented production growth

The Ukraine crisis has shaken the established norms of energy geopolitics and has set the world on a course that will see no return to the status quo of just one year ago

AIM-listed E&P firm Sound Energy is bullish about the fuel’s future, both domestically and potentially for export

Chevron-operated project injected just 1.65mn t of the 5mn t it produced

Energy commodity price volatility following Russia’s invasion of Ukraine has accelerated government support for renewables and hydrogen

With the right policies, security of supply should not be an opposing force to decarbonisation

With the right policies, security of supply should not be an opposing force to decarbonisation

With the right policies, security of supply should not be an opposing force to decarbonisation

Sustainable fuels will be a key solution to reaching a 1.5°C aligned path for aviation

Getting to net-zero emissions will require combined efforts on both the demand and supply side

Integrating the principles of a just transition will increasingly be at the core of energy transition strategies

Integrating the principles of a just transition will increasingly be at the core of energy transition strategies

Perovskites and microgrooves could help tackle solar PV manufacturing problems

Ending dependence on gas and electrifying processes with efficient thermal energy storage is the only cost-effective solution for industry to decarbonise

Europe’s enforced pivot away from Russian gas has implications for the entire global energy system

The energy transition creates an enormous opportunity for oilfield services because of the critical role oil and gas still needs to play and because of the sector’s ability to act as lead innovator

US and Canada have the resources to provide affordable, secure and sustainable energy to the global market

Countries in the region must cooperate to balance security, sustainability and affordability

Lowering the carbon intensity of oil and gas production will be a key consideration in the years to come

Upstream M&A activity is not being deterred by the move towards decarbonisation

Undeveloped basins, minimal industry competition and gas supply imbalance are notable tailwinds even as windfall taxes loom large