Petroleum Economist
Repsol—Enabling the energy transition through people
Enrique Fernandez Puertas, head of talent and culture at Repsol, explains how the company is empowering people worldwide to contribute directly to a more sustainable future
Oil: Five things to watch in 2024
Many of the biggest themes of 2023 will come to a head this year, but beware both naysayers and apologists
Outlook 2024: Asia’s appetite for LNG in an age of uncertainty
Asia remains primed for long-term LNG growth, despite the commitment by countries to meet their net-zero emissions targets
The long march to energy independence: Part 1
The 1970s provide the most important lessons on creating a sustainable and secure energy system
Outlook 2024: The energy trilemma – Sustainability, security & affordability
Key trends identified as drivers of the trilemma
Outlook 2024: Oil pricing in a post-peak-demand world
The carbon intensity of oil may bring a change to pricing long-term
Oil may not escape a recession
Those who believe a global recession has been avoided may be mistaken, with huge ramifications for the oil market in 2024
ONGC aims to speed up upstream push
Exploration director says firm is looking at under-explored basins to maximise hunt for oil amid maturing fields, volatile prices and climate pressures
Brazil sets sights on regulated carbon market
Authorities eye design of EU ETS as they seek legislation to help fast-track decline in emissions through a cap-and-trade market
Oil and gas now has green licence
The hydrocarbons industry must start to deliver in 2024 on the quiet approvals granted at last year’s COP, which was also dubbed ‘Conference of the Petrostates’
Oil and gas now has green licence (1)
The hydrocarbons industry must start to deliver in 2024 on the quiet approvals granted at last year’s COP, which was also dubbed ‘Conference of the Petrostates’
Outlook 2024: Brent’s WTI transfusion – A new lease of life or a whole new animal?
With crude production forecast to grow through 2028, what benchmark is going to lead the way?
Outlook 2024: Focused financing – Will it unlock capital for the transition?
In a transformative shift, the consumer’s role in meeting net-zero challenges and reducing reliance on fossil fuels is crucial
Outlook 2024: Building LNG’s resilience through turbulent times
Larger and more diversified portfolios are best placed to navigate through volatility
Outlook 2024: Libya ready for investment
New strategic plan includes significant investment in oil and gas
Adnoc buys into UK CCS developer Storegga
Emirati energy company takes 10.1% stake in first international investment in carbon management sector
The long march to energy independence: Part 2
The US finally achieved energy independence in November 2019, but was the mission a mistake from the start?
Outlook 2024: The IEA 50 years on – Ensuring a secure transition to clean energy
We have the tools to transition but we must make sure we take advantage of them
Viaro Energy sees gas as long-term UK transition fuel
CEO sees gas as growth area for the North Sea if governments embrace energy security
Venezuela casts shadow over Guyana’s bright oil future
But 1m b/d production could be just a few years away if geopolitical risks subside
Vaalco eyes more African growth
The independent plans further Africa-focused expansion and shrugs off the recent coup in Gabon
Outlook 2024: The importance of US LNG in transforming the global market
US LNG has been a key driver in linking Asian, European and Latin American spot cargoes
Nigeria’s biggest gas pipeline advances
The AKK project promises to increase gas utilisation and reduce energy poverty
Key ONGC KG Basin project to start crude output in May
Despite the delays and the cost overruns, KG-DWN-98/2 could be pivotal in turning around India’s declining oil production
Outlook 2024: Welcome to the geopolitical rollercoaster
Oil and gas are once again being weaponised
Letter on OPEC: OPEC’s ‘elastic’ supply problem
A high-price market management strategy will continue to prove difficult until demand makes a strong recovery
Outlook 2024: The evolution of gas infrastructure
In the ever-changing landscape of global energy, the European gas infrastructure is undergoing a remarkable transformation, poised to play a pivotal role in shaping Europe’s energy future
CCUS: Five things to watch in 2024
Investment in CCUS will accelerate this year as developers weigh short-term cost pressures and regulatory risk against the technology’s long-term potential
Mexico’s fledgling LNG export industry faces growth challenges
While developers are making progress, infrastructure, regulatory and political uncertainties risk stunting opportunities
Johnson Matthey sees clean fuel tech ‘hypergrowth’
Demand for technology and components deployed in the SAF and blue hydrogen sectors is booming, UK-based company tells Carbon Economist
Johnson Matthey sees clean fuel tech ‘hypergrowth’ (1)
Demand for technology and components deployed in the SAF and blue hydrogen sectors is booming, UK-based company tells Petroleum Economist
Outlook 2024: Middle East to continue making headlines in 2024
Especially in the products market, the Middle East is set to achieve significant growth
Dangote refinery startup fails to appease doubters
Mega-refinery set to transform Nigeria but questions remain over feedstock that may limit key gasoline production, at least for now
Letter on carbon: Backing Beccs
Drax Power has secured planning permission to start developing one of the world’s largest commercial projects, but how robust is the argument for deploying Beccs at scale?
Letter on OPEC: OPEC composition will continue to evolve
UAE looks a prime candidate to assert its growing power amid a group unlikely to either gain or lose many members in the foreseeable future
China’s accelerating transition to curtail oil and gas demand
Rapid electrification and the adoption of renewables may allow China to trim its dependence on fossil fuels and reach net zero sooner than previously expected
Outlook 2024: Market regime shifts driving LNG portfolio value
Three main characteristics underpin a shift in global pricing dynamics creating a new regime
Angola’s OPEC departure runs deep
Luanda’s decision to leave the influential group surprised many observers but may have been coming for some time
Outlook 2024: Replacing coal with gas is more important than ever for Asia
More gas is needed across Asia—at affordable prices—to encourage the move away from coal
Modular refineries offer Nigeria solutions
Official support for small refineries may improve security and help the country meet both its OPEC crude production quotas and domestic product requirements
Outlook 2024: Europe’s pivot from Russian gas
Energy crisis leads to supply diversification
Chinese oil demand growth poised to slow
Demand prospects are limited by decelerating economic expansion following the post-pandemic rebound
Outlook 2024: Freight sector grapples with regulations and geopolitics
EU ETS extension is the latest change for the sector
Outlook 2024: US LNG – The next wave?
The LNG build-out gaining momentum in the US since 2022 is unprecedented in its size, but as risks grow it will reach its peak in 2024
Outlook 2024: Uncertain outlook for East Med
The geopolitical risks of the East Med could affect regional energy integration and global markets
Brazil seeks greater oil market influence
Despite environmental criticism, President Lula sees opportunity to build bridges with OPEC+ allies
Outlook 2024: The future is not what it used to be
The appetite for long-term oil investment remains variable
Iraq looks beyond headwinds for the upside in 2024
Optimism about Kurdish production increases contrasts with a messy security situation that could obstruct oil and gas progress
Outlook 2024: The evolving role of OPEC and OPEC+
The organisation remains vital to ensuring future energy demand is met
Outlook 2024: Toward a realistic US energy and climate strategy
A realistic, yet forward-looking, energy and climate strategy is possible if US policymakers can eschew ideological divides in favour of a durable political compromise
Power pricing threatens Vietnam’s gas plans
The country’s drive to adopt LNG and gas could be imperilled as the state electricity company haemorrhages money
Muddled policies cloud Korean LNG outlook
Planned terminal expansions do not fit with Seoul’s stated goals of trimming LNG dependence
China reboots voluntary offset market
Relaunch comes seven years after market was closed to new entrants because of low volumes and lack of standards
Indian refiners look to diversify crude sources
The country is trying to reduce dependence on Russian barrels amid a narrowing of the gap between them and Middle Eastern grades
Regulatory change threatens next wave of US LNG
A potential policy shift has thrown the fate of c.100mt/yr of new US liquefaction capacity into doubt
Broker launches insurance against carbon leakage
London-based Howden says new product can boost bankability of CCS projects by addressing key risk
Aramco pursues multi-faceted gas growth strategy
The NOC is looking to increase its gas output to more than 165bcm/yr by 2030 to support its hydrogen and ammonia aspirations, and to finally become a player in LNG
Shell demonstrates renewed focus on hydrocarbons
Gulf of Mexico moves suggest cautious optimism in region’s deep waters, with a shift to work smarter and balance risks
Colombia’s upstream set for decline
Political decision-making casts doubt on the Latin American country’s ability to sustain energy self-sufficiency in the long term