Petroleum Economist
Outlook 2022: The nuclear option for Europe's energy crisis
Price spikes and potential risks to grid stability might see policymakers alighting on a previously unpalatable solution
Adnoc reaffirms oil and gas intent
New medium-term investment programme remains heavily focused on exploiting additional hydrocarbons
Letter from India: Will gas be crucial to India’s energy transition?
New Delhi has announced a greater role for gas in India’s energy mix but must focus on E&P to meet rising demand
Libya starts the year on an uncertain note
A cancelled poll and strikes cast a shadow over the North African producer’s 2022 ambitions
EU says nuclear and gas are green
Germany and other member states criticise European Commission proposals to include nuclear in sustainable finance taxonomy
Purple patch for Muscat’s chemicals ambition
The commissioning of Oman’s largest petrochemicals plant has coincided with Saudi Arabia’s potential rescue of an even bigger one
Mitsubishi sweeps board in Japanese offshore wind auction
All three projects awarded in country’s first large-scale tender will be developed by consortiums led by Mitsubishi
France consults on 1.5GW windfarm off Normandy
Government aims to accelerate offshore wind deployment as part of push for net zero by 2050
Tunisia kickstarts stalled renewables sector
New government appears committed to clearing the legal, financial and practical obstacles facing prospective foreign developers
Repsol buys Pennsylvanian shale producer
Acquisition of Rockdale Marcellus is part of the Spanish firm’s strategic plan
Outlook 2022: Using data to match excess energy with demand
Technology may help bridge the gap between energy waste and rising demand
UK sales of EVs surge despite auto sector malaise
Reduced incentives and patchy rollout of charging points could threaten growth, says industry group SMMT
GB road-fuel sales remain below pre-pandemic levels
The country’s gasoline and diesel volumes struggle to reach February 2020 demand
RWE and Northland partner on 1.3GW German offshore wind cluster
The companies aim to complete Nordsee 2 and 3 and Delta Nordsee windfarms between 2026 and 2028
Egypt celebrates licensing round success
North African country find takers for eight blocks
Ecuador to resume crude exports
Flows through two major pipelines are set to restart after suspension towards the end of last year
Pattern Energy completes largest single-phase wind project in US
The 1.05GW Western Spirit Wind will provide power to New Mexico and California
Algeria reboots renewables sector
A 1GW solar auction and commitments by Eni to develop clean hydrogen have given the sector fresh momentum after years of stalled progress
US pipeline heavyweight pivots into Midland gas
Enterprise Products Partners strikes deal for Permian offtake infrastructure
Aramco opens wallet
Soaring revenues have enabled awards on two flagship upstream projects as efforts to recycle the windfall in-Kingdom intensify
Chariot strikes Moroccan gas
UK-listed producer exceeds pre-drill expectations in gas-starved North African country
Chinese gas forecasts leave LNG uncertainty
There is both plenty of opportunity and plenty of risk for the LNG sector as it looks to meet China’s expanding need for gas
Goldman Sachs invests $250mn in Hydrostor
The money will be used to progress near-term long-duration energy storage projects in California and Australia
ECB warns of energy transition inflation risk
Gas supply imbalances and rising carbon prices could cause persistent pressure on consumer prices, ECB executive board member warns
Coal burn jumps sharply in 2021 – IEA
Economic recovery and surging natural gas prices have boosted demand for coal for power generation
Japan’s power costs could double by 2030 – Wood Mackenzie
Options for provision of dispatchable power to replace fossil fuels remain very expensive across Asia-Pacific, consultant says
Overcapacity looms in China’s solar PV sector
Government net-zero targets drive investment in solar panel production by new entrants and existing players, UBS analyst says
Eco Atlantic expands in southern Africa
The AIM-listed independent will take over six licences in the region with its acquisition of Azinam Group
Japex buys into Vietnamese LNG project
The firm is poised to enter Vietnam’s burgeoning LNG sector
UK-listed independents get busy
Shareholder antipathy towards oil and gas is no stumbling block to activity
Gas future hangs on emissions data transparency
Monitoring, certification and data science can sustain the fuel’s licence to operate
Germany ramps up clean energy targets
New coalition government targets huge expansion of renewables and green hydrogen as it chases emissions reduction goals
UK passes new nuclear financing model
New reactors to be financed during construction phase via regulated asset base model
ExxonMobil invests in Norwegian biofuels firm Biojet
Deal includes offtake agreement for wood-based biofuels for transport applications from new production facilities northwest of Oslo
China EV demand set for strong growth in 2022
Sales could double despite phased withdrawal of government subsidies
Novatek signs Arctic LNG China deals
Russian gas supplier to send more cargoes to China, but this time to an independent importer and a provincial state-owned group
Guyana’s burgeoning oil sector continues to advance
Two fresh discoveries and further developments are helping to cement the frontier province’s leading status
Moller-Maersk targets net zero by 2040
Firm will use methanol for shipping fuel and sustainable aviation fuels to reduce carbon footprint
NCS resource growth hits seven-year high
2021 additions top 500mn bl
PKN springs surprise among divestment buyers
The Polish refiner strikes deals to meet conditions of its Grupa Lotos takeover, including with a non-regional player
US utilities eye EV opportunity
Efforts are ramping up to meet the growing demand for charging infrastructure and additional grid capacity
Acwa breaks ground on Azerbaijani windfarm
The project is the first and largest foreign investment in Azerbaijan’s renewables sector
Outlook 2022: Financing the countdown to net zero
Investor interest in financing the energy transition is strong, but availability of capital often hinges on the maturity of each market segment, while the time needed to realise returns is challenging
Less ‘blah blah blah’ and more community action: Energy lessons for 2022
The global energy community must build forward together in the coming year
Israel accelerates solar power expansion
The allocation of more than 1GW of new solar capacity to developers in late 2021 is testament to the new coalition government’s commitment to renewables
China’s green finance boom lacks ESG data
Regulators demand greater ESG disclosure as China’s emissions goals drive acceleration of green financing
Petrotal set to boost Brazilian exports
Peruvian firm signs deal to increase export volumes and looks at ways to further bolster them
UK onshore firm receives six approaches
With plans to restart production from an idled gas field, Angus Energy has found no shortage of interest
TotalEnergies and Inpex divest Angolan stakes
The firms will sell their joint venture and its non-operating stakes to Angola’s Somoil
Qatar pulls LNG investment trigger as crown slips
Doha is full throttle on its LNG growth targets as it seeks to retake its number one spot
Oil majors secure Scottish offshore wind rights
BP, Shell and TotalEnergies buy options to develop large-scale fixed and floating projects offered in Scotwind tender round
BP partners with Oman on renewables and hydrogen
Oil major plans to undertake wind and solar data assessment for multi-gigawatt energy hubs
Japanese firms seek domestic offshore gas
Inpex, backed by Jogmec, is set to start drilling off the coast of Japan in March
IOC stalwarts deliver Omani gas boost
Shell and TotalEnergies have agreed to execute a major integrated development and bought into the government’s gas-led strategy
UKCS still attracting buyers
Healthy appetite remains despite an evolving oil and gas landscape
UK High Court throws out upstream challenge
Activists’ efforts to have the revised OGA Strategy ruled unlawful are rejected by judge
ExxonMobil targets net-zero scope one and two emissions by 2050
Oil major plans to invest more than $15bn on low-carbon initiatives by 2027
Outlook 2022: The greening of hydrocarbons
A lower-carbon future will still involve fossil fuels
Outlook 2022: The greening of hydrocarbons (1)
A lower-carbon future will still involve fossil fuels
Woodside concludes Pluto 2 deal
Australian firm finalises sale of stake in LNG project to Global Infrastructure Partners
Kosmos advances Gulf of Mexico prospect
Production from Winterfell could start in as little as two years
China set to start up megaton CCUS project
The development is aimed at providing enhanced oil recovery for Shandong’s Shengli oilfield
How transition plans this decade can rewire finance for 1.5°C
Transition plans should sit at the heart of investment and capital allocation strategies to kickstart what should be a decade of exponential change to ‘green’ all sectors of the economy
Outlook 2022: The rise of rights-based claims in climate change disputes
Governments but also, increasingly, corporates could face suits with far-reaching material implications for their futures
Outlook 2022: The rise of rights-based claims in climate change disputes (1)
Governments but also, increasingly, corporates could face suits with far-reaching material implications for their futures
Wintershall Dea quits Brazil, Argentine shale
The German independent is overhauling its Latin American portfolio
US LNG eases European storage crisis
The US is set to play an even larger role in the global gas market this year, with the country gearing up to overtake Australia as the world’s largest LNG exporter
New York’s first offshore windfarm to begin construction
Orsted and Eversource project secures final regulatory approval from Boem following environmental review
Shell targets new hydrogen and CCS projects in 2022
Oil major must be a pace setter in energy transition with a bolder strategy, CEO Ben van Beurden says
Letter from South America: Bolivia's shrinking gas role
Declining production and cheaper LNG threaten the country’s role as gas supplier to its neighbours
UK’s Britishvolt secures funding for EV battery gigaplant
Plant designed to produce 300,000 lithium-ion EV battery packs a year, with startup schedule for late 2023 or early 2024
KRG craves 2022 stability
Having benefitted from improved oil prices and better relations with Baghdad in 2021, Erbil is looking for more of the same
Russia mulls fiscal changes to boost less-advantaged oil
Last year saw reserve replacement at over 100pc. But there are concerns this is unsustainable without better incentives
Aviva fires warning on climate commitments
Asset manager demands measurable progress on climate and sustainability by companies it invests in
Shell ruling casts shadow over South Africa
The court’s decision on the major’s seismic survey could have wider implications for the country’s upstream
Germany rejects gas timelines in draft EU taxonomy
Government says proposed timetable for switch to clean fuels in power generation is unrealistic and could hit hydrogen deployment in industry
Janus backs LNG-to-power for Africa
The developer sees LNG as vital for the continent’s energy needs
Asian LNG demand growth set to slow
Weaker outlook for the Chinese economy and greater pipeline flows threaten to hamper expansion of the shipborne market
Letter from the Middle East: Iran’s gas sector under pressure
Tehran’s gas industry faces two old and two new problems
TotalEnergies quits Myanmar
The French major is transferring its stake in the Yadana gas field to its partners
Orsted aims for wind turbine circular economy
Danish developer enters partnerships to decarbonise steel production and offshore vessel support
Trafigura accelerates decarbonisation efforts
Firm is reducing emissions impact of shipping and mining operations
Enel grows renewables fleet by 65pc
Company sets new benchmark for industry as it shrugs off impact of pandemic, Enel Green Power CEO says
US renewables sector faces near-term challenges
Supply-chain issues and rising costs present short-term difficulties for sector poised for rapid growth
US renewables sector faces near-term challenges (1)
Supply-chain issues and rising costs present short-term difficulties for sector poised for rapid growth
INOC sets the stage for oil uptick
Control for Iraq’s new NOC of one of the country’s biggest oil assets may just be a first step in Baghdad’s strategy
Crediting emissions saved in plugging oil and gas wells
Avoided emissions could be credited as carbon offsets and sold on exchanges
New EIB-backed energy efficiency fund to tackle ‘huge underinvestment’
Solas Sustainable Energy Fund to support energy efficiency projects mainly in Germany, Spain and Ireland and is aimed at small-to-mid-size insurers and pension funds
Turbine manufacturers post major losses
GE and Siemens Gamesa Renewable Energy have announced multimillion-dollar losses over 2021 and the past quarter, while Vestas posts cautious 2022 guidance
Brookfield buys US clean power developer Urban Grid
Asset manager’s renewables arm triples its US project pipeline with $650mn acquisition of solar and energy storage developer
Equatorial Guinea advances upstream ambitions
Recent deal with Chevron suggests the country’s upstream sector is gaining momentum
Challenges aplenty but opportunity remains for UKCS
There is life in the old North Sea dog yet
Letter from Europe: Weaponised interdependence?
Mounting fear of an invasion of Ukraine has put Europe’s uneasy relationship with its biggest gas supplier back into the spotlight
Uncertainty preventing transition investments – WEC
Covid-19 variants, economic growth and geopolitics are higher up the agenda for leaders than climate change
IEA calls for Canadian emissions reduction action
The country’s oil and gas sector is a culprit in disappointing delivery despite good policymaking
Social licence needed in a decarbonising world
Oil and gas producers can become part of the solution. But only if they can maintain, or regain, public trust
European gas market faces another uncertain year
The lack of Russian gas and LNG capacity constraints threaten Europe with a shortfall of supply
New technology improves safety and expedites emergency response
A unified system based on locational awareness enables improvements in offshore personnel safety
China targets commercial fleets in new green transport plan
Five-year plan calls for more NEV deployment in fleets of urban buses, taxis and logistics vehicles by 2025
UK low-carbon heating bubbles under
The UK faces challenges on multiple fronts in its effort to decarbonise domestic heating
Brazil sets regulatory framework for offshore wind
New decree clarifies regulatory authorities and requirements, as developers gear up for first projects
Jinkosolar valuation soars on Chinese market debut
Solar panel manufacturer’s bullish Shanghai listing reflects Chinese investors’ growing confidence in renewables sector
i3’s UKCS race not run yet
The UK-listed independent has pivoted more towards Canada. But that does not speak to diminished enthusiasm for the North Sea basin
Petronas works with Japex on CCS development
Agreement is latest in series of CCS collaborations set up by Malaysian state oil and gas company in recent months
Russia, Saudi Arabia and the US – what next for oil markets?
The impact of a breakdown in Russo-US relations is much more nuanced in liquids than in gas