Petroleum Economist
June 2023
The June issue of Petroleum Economist is out now!
May 2023
The May issue of Petroleum Economist is out now!
April 2023
The April issue of Petroleum Economist is out now!
March 2023
The March issue of Petroleum Economist is out now!
February 2023
The February issue of Petroleum Economist is out now!
Realistic hope should be the legacy of Cop28
The appointment of the UAE’s Sultan Ahmed al-Jaber as Cop president has drawn criticism from some quarters, but progress on the energy transition will require cooperation, not conflict
Realistic hope should be the legacy of Cop28 (1)
The appointment of the UAE’s Sultan Ahmed al-Jaber as Cop president has drawn criticism from some quarters, but progress on the energy transition will require cooperation, not conflict
ExxonMobil signs CCS deal with steelmaker Nucor
Oil major sees CCS for third parties as a ‘compelling’ business as latest contract takes total portfolio to 5mn t/yr
IEA highlights energy divergence as milestone 50th nears
Energy body punches above its weight as it provides direction amid crossroads
Exploration basins of the future
Exploration has rebounded since the pandemic while also becoming more focused. Petroleum Economist looks at the basins likely to see the most upstream activity over the coming years and at developers’ investment criteria
Asia’s NOCs chart paths to decarbonisation
But none of the companies are poised to abandon oil and gas anytime soon
Saharan pipeline projects must seize European opening
The proposed mega-projects linking Nigeria to the Mediterranean and beyond face significant hurdles, but there are strategies that could help them advance
Germany launches carbon CfD scheme
Government expects to budget more than €10bn for subsidy programme in response to US IRA
Letter from Iran: Tehran's dreams and Moscow's deceptions
Russia is making a show of support for Iran as the two nations strengthen their ties, but the promised investment may never materialise
Angola announces 2023 bidding roadshow
Roadshow will be for blocks in the Kwanza and Lower Congo Onshore basins, with technical session on 19 June
Kinshasa pins hopes on eastern oil export route
Regional mega-project could help overcome infrastructure barrier to Congo development, but hurdles remain
US debt deal to have lasting consequences for oil and gas
Approval of Mountain Valley Pipeline could set a legal precedent, while permitting reform may make it easier for other projects to advance
High costs threaten DAC potential – BCG
Paradigm shift by governments and other stakeholders needed to bring down costs and unlock investment in key carbon removal technology, says Boston Consulting Group
Global offshore market is on the upswing
Contractors set for multi-year recovery amid continually improving economics and efficiencies
Namibia keen on active role as it firms up energy ambitions
The southern African country’s plans include NOC portfolio diversification and boosting domestic gas consumption
CCS Database is now available
Global Energy Infrastructure launches CCS projects database
EU consults on strategy to kickstart CCUS
Storage infrastructure targets and coordinated project funding among proposals as European Commission warns on slow pace of development
What's on at the 24th Congress: Exploring the high-level programme
Take a look at the key themes to be explored throughout the Strategic Programme at the 24th World Petroleum Congress, 17-21 September 2023, Calgary, Canada
Saudi Arabia, Opec+ and oil price formation
Why does a Saudi production cut of a million barrels fail to drive prices higher?
Letter from Singapore: Asia’s LNG love story still needs writing
Gas is set for major growth in Asia but countries in the region are moving at differing paces and some remain highly sensitive to prices
Senegal eyes global and domestic energy markets
Dakar is keen to meet its own energy needs, even as major export projects near start up
US oil and gas sector facing insurance challenges
The market has hardened significantly, but there are strategies energy companies can employ to mitigate its impact
ConocoPhillips in transition
Superindie talks to Carbon Economist about the energy landscape
Big Oil’s trading black box
Energy trading is an opaque business, but automated and centralised data processing systems could help lift the lid on the market’s best prices
Letter from Africa: Investors should look beyond region’s challenges
Opportunities abound as hydrocarbons remain crucial to growing energy needs
E&P investment becoming mission impossible
Oil price volatility and the high cost of hedging mean putting money into exploration and production is unaffordable for all but the largest players
Bennett Jones sees opportunities in Canadian energy transition
Carbon Economist spoke to the law firm about Canada’s legal and regulatory landscape
Bennett Jones sees opportunities in Canadian energy transition (1)
Petroleum Economist spoke to the law firm about Canada’s legal and regulatory landscape
Canadian Prairies’ role in the energy transition
Federal department PrairiesCan speaks to Carbon Economist about the energy sector in the region
Indonesia considers LNG export restrictions
Rising domestic demand and the pressures of net zero are prompting the Southeast Asian country to look at limiting outflows of gas
Certainty key for Canada’s CCS industry
Project developers need clarity on long-term carbon pricing and streamlining of federal and provincial regulation, president and CEO of International CCS Knowledge Centre tells Carbon Economist
Gail feels effects of Russia fallout
Indian gas company’s profits nosedive due to non-supply from former Gazprom unit
Oil watchers not paying close enough attention to Saudi’s Opec+ policy
Saudi Arabia’s ‘whatever it takes mode’ suggests oil market floor will be defended despite macro challenges and Russia test
Adnoc eyes role as clean tech hub
Recent deals highlight state oil company’s ambitions to be a technology leader in CCS and low-carbon hydrogen
EU nations reach deal on renewables target
Agreement comes after the European Commission allows nuclear power to contribute to-wards target
CCUS outlook: Delivering large-scale carbon abatement for net zero
Scaling CCUS will require collaboration between governments, public and private actors, and communities
Gas jostles for vital role in China’s energy mix
The fuel has lost ground to coal and renewables but is seen as key to balancing needs for energy security with long-term efforts to decarbonise
What's on at the 24th Congress: Exploring the technical programme
Take a look at the key topics to be explored throughout the Technical Programme at the 24th World Petroleum Congress, 17-21 September 2023, Calgary, Canada
Kazakhstan is key to the Middle Corridor
The race to go around Russia is on and the New Silk Road has a Central Asian energy flavour
Opec+ is in a tight spot
Oil producers’ demand outlook not as bullish as thought as output cuts have limited impact
Tanzania LNG project finally sees progress
Export terminal agreement brings offshore gas production a step closer
Oil companies focusing on being oil companies
Persistent demand and the importance of the bottom line bring hydrocarbon investment back into focus
A new attempt at building a carbon futures market
Climate Impact X is the latest operator to try to foster exchange-based trade in voluntary carbon credits
Suncor getting back on track
New management looks to focus on oil sands firm’s core upstream and downstream business
Washington carbon prices surge above California
Prices in the newest US regional emissions trading scheme spike above more established California market on the back of more ambitious reduction target
Eni and Neptune sign acquisition deal
The Italian firm continues to increase the share of gas in its growing portfolio
Saudi output cut creates tight sour crude market
Move triggers flurry of Middle East-China trading with Unipec flooding market with Omani cargoes and rival Petrochina snapping them up
Letter from Paris: Africa eyes future fuelled by oil and gas
A recent industry forum highlights how developing nations see hydrocarbons very differently from some in the West