Petroleum Economist
Letter on carbon: Talk of the town
CCUS is under the spotlight at COP28 in Dubai as policymakers increasingly look to tap its potential to tackle hard-to-abate emissions
Outlook 2024: Is blue the new green?
The role of gas in the energy transition
Outlook 2024: CCS projects outlook in 2024
An ambitious pipeline of CCS projects through 2030 shows optimism for the sector
ExxonMobil charts own course on transition
The US oil major is leveraging its skillset to develop a low-carbon portfolio spanning CCS and blue hydrogen to lithium for EV batteries
ExxonMobil charts own course on transition (1)
The US oil major is leveraging its skillset to develop a low-carbon portfolio spanning CCS and blue hydrogen to lithium for EV batteries
Outlook 2024: Can carbon credits help you decarbonise faster?
VCM to help scale climate finance
Transition finance advances at COP28
Announcements made during climate talks signal progress on several fronts when it comes to unlocking finance to support the energy transition
Outlook 2024: Declining Russian oil flows
Competition for Russian oil remains strong, but opportunistic buyers will have more challenges in 2024
Profitability remains a prerequisite for a credible energy transition—Repsol
Insisting that profitability must be maintained as energy companies transition from fossil fuels to clean fuels has enabled Repsol to ratchet up its climate neutrality ambitions, making the company an industry leader.
Argentina’s new president promises energy shake-up
Self-described 'anarcho-capitalist’ vows economic transformation including privatising state energy firm YPF
Outlook 2024: Quality concerns and geopolitics to dominate carbon markets
Carbon pricing is inevitable, but the mechanism is still to be determined
Outlook 2024: Transition must balance sustainability with social cost
Many African nations rely on oil and gas revenues, but a just transition will need a careful balance
Multiple challenges hinder China CCUS expansion
Greater collaboration with international developers could spur sector’s growth as it grapples with high costs and lack of effective business models, report says
December 2023/January 2024
Click here to access the December/January issue.
Outlook 2024
Click here to access Outlook 2024.
Outlook 2024: Geothermal energy sector set for growth
Geothermal energy provides reliable baseload power and heat supply
Gas and LNG: Five things to watch in 2024
The global market remains structurally tight as the new year approaches
Outlook 2024: Germany rethinks its energy strategy amid European energy crisis
The consequences of Russia’s invasion of Ukraine have been particularly significant for Germany
Letter from Europe: Tobacco offers warning for oil
Moving on from burning fossil fuels for energy will not be easy, but it is ultimately a habit the world will need to kick
Outlook 2024: LNG investment - Hydrocarbon challenges or green opportunity?
Many LNG projects already incorporate emissions mitigation methods, hastening adoption for future projects
Outlook 2024: OPEC at the wheel
OPEC+ has created a new and higher oil market floor that both sets the scene to revive oil investment and has the begrudging acceptance of consumers
Leaders
LNG freight must navigate chokepoints and bottlenecks
Rising LNG demand and supply risks are outpacing shipping logistics amid Panama and newbuild challenges
European gas prices still on alert
The market is better prepared but still jittery, while the industry remains wary of the EU price cap
Europe’s gas security strategy may not be 2024 ready
The region’s rapidly evolving infrastructure has a lot to be commended for, but some of the capacity may not be ready in time for the 2024 heating season
Forward Intelligence
Oil price of $80–95/bl could be new normal in 2024
OPEC+ is prepared to defend $80/bl, but economic weakness and potential supply kept off the market will likely limit any upside as consumers acclimatise to higher prices, says Saxo Bank’s Ole Hansen
Letter from London: OPEC’s new chapter
Scepticism, confusion and disdain over OPEC+’s extended and deeper supply cuts should give way to an appreciation of the new multi-speed producer alliance
In Depth
Letters
Letter from Asia: Net-zero needs CCS and LNG
COP28 must recognise the essential role of gas and carbon capture in the energy transition, says the Asia Natural Gas and Energy Association
Letter from India: Prosperity and sustainability make uneasy bedfellows
Burgeoning middle class and long-term growth from a low base at odds with energy transition efforts
Letter from Pakistan: More oil and gas needed, not less
Countries such as Pakistan will require fossil fuels for a long time to come, requiring a reframing of the narrative around the energy transition
Americas
Testing times for Ecuador’s new president
Security concerns and environmental opposition to oil and gas drilling pile pressure on new leader’s truncated first term
US oil and gas has high hopes for new Speaker
ESG reporting standards and spending and subsidy provisions in the IRA among the priorities for the sector
Chevron deal energises the Bakken
The major’s acquisition deal could keep oil production in the mature play going for longer
WCS to arrive on the global stage
New pipeline capacity may transform the role of Canada’s key heavy sour crude and its price after a few false dawns
Canadian producers riding another M&A wave
Low debts levels and the advantages of larger companies among the reasons for the rise in activity
Asia Pacific
Yuan makes oil and gas trade inroads
But the dollar still remains overwhelmingly the favoured currency
China’s gas goals face unconventional hurdles
Beijing’s strong emphasis on domestic production growth will require heavier investment from the country’s NOCs, as remaining reserves become harder to exploit
Asia’s changing oil market landscape
Chinese demand is at the forefront of shifting oil contours for Asia for 2024 and beyond
India’s diesel love affair continues
Demand for the fuel is poised for further growth, but government regulation and changing habits could eventually undermine its primacy
Oil India sets ambitious drilling target
The state-owned firm will drill 60 wells in the current financial year as India strives to reduce its import dependence
India’s growing gas appetite
Demand increasing at a clip as government plots infrastructure buildout
Tamboran pursues Northern Territory gas ambitions
The Beetaloo Basin is a gas-rich shale play
‘Lawfare’ threatens Australian investor confidence
Barossa is just the latest project impacted as the industry warns of a worsening regulatory environment
US sanctions target Myanmar’s NOC
But the measures also further complicate gas-dependent Thailand’s supply outlook
EMEA
Energy majors’ strategies show signs of convergence
While US megadeals may not be repeated on the other side of the Atlantic, there is now greater common ground between European and US energy companies
Adnoc’s global energy leadership (1)
Oil and gas companies look to defy cynics and play pivotal role in decarbonisation as the UAE hosts COP28
Adnoc’s global energy leadership
Oil and gas companies look to defy cynics and play pivotal role in decarbonisation as the UAE hosts COP28
Israel-Hamas war clouds energy prospects
The threat of a big disruption to energy trade in the Middle East appears to be receding, but the fog of war is casting doubt on projects in the region
Mozambique LNG targets 2028 start-up – TotalEnergies
The gas-rich country continues to attract interest, despite security challenges
Carbon Economist
COP28 brings progress on Article 6
Talks focus on two key provisions to Paris Agreement rules allowing international trade in emission reductions
EU eyes pan-European CCS network
European Commission earmarks cross-border projects for funding and fast-tracks carbon management strategy as pressure grows to kickstart CCS sector
Wintershall buys into Poseidon CCS project
German independent expands UK CCS portfolio with purchase of 10% stake in Southern North Sea project from Carbon Catalyst
China signals ETS expansion
Preparations underway for inclusion of cement, aluminium and steel producers in world’s largest compliance market by 2030