Petroleum Economist
Tax credits rev up Canada’s CCS sector
Recently finalised investment tax credits have brought much-needed clarity for Canadian CCS developers, but carbon price uncertainty remains a concern
Weather and pricing key to Asia’s winter LNG demand
Nuclear availability in Japan and South Korea will also be an important factor in determining overall LNG requirements
Taiwan embraces long-term LNG
The island nation plans to phase out nuclear energy and substitute coal for gas, but must first overcome import capacity constraints
The rise of oil’s big three, part 1: The transition to oil
In this first part of the first chapter of our 90th anniversary special on the history of oil, we look at oil’s humble beginnings and the start of its rise to prominence
The rise of oil’s big three, part 2: The start of the oil age
In the second part of our history of oil special on the ascent of the US, Russia and Saudi Arabia, we examine the early years of the age of oil
The rise of oil’s big three, part 3: The oil age develops
The 20th century’s two global conflicts made clear the geopolitical importance of oil, while Russia and Saudi Arabia joined the US as hydrocarbons superpowers
Mexico’s new president faces fiscal crunch
While greater focus on decarbonisation is likely, economic pressures and huge debt burden could squeeze energy policy ambitions
NextDecade shelves CCS plan for Texas LNG project
Addition of CCS was a factor in court’s decision to overturn FERC’s authorisation for NextDecade’s Rio Grande LNG project
OPEC and the post-war evolution of the oil industry, part 1: The birth of OPEC
Continuing our 90th anniversary deep dive into the history of oil, the first part of our second chapter covers the post-war world and the beginnings of OPEC
OPEC and the post-war evolution of the oil industry, part 2: The emergence of the IEA
We pick up the story of the history of oil with the response of consumer countries to the 1973 embargo, with the creation of the IEA proving the adage that every action has a reaction
OPEC and the post-war evolution of the oil industry, part 3: Shale, new demand and OPEC+
The third part in the second chapter of our history of oil looks at the US shale revolution and ‘declaration of cooperation’ that created OPEC+
August/September 2024
The August/September issue of Petroleum Economist is out now!
Greater Sunrise brightens Timor-Leste's outlook
But the young nation may have to go through a fallow period before that project comes online as the Bayu-Undan field nears exhaustion
Empire of Oil: how hydrocarbons remade the world
The transition to oil evokes revolution and renaissance
Letter from London: OPEC+ approaching high noon
The oil alliance must navigate the good, the bad and the ugly in its showdown with the market at the beginning of December
Europe has coping mechanisms for life after Russian gas
The Ukraine–Russia gas transit and interconnection agreements are due to expire at the end of this year, but despite some uncertainty, Europe seems well-prepared
Gas and LNG come out from oil’s shadow, part 1: The early years
The first part of our fourth chapter on the history of oil looks at the origins of gas and LNG—once considered a nuisance, now a fuel of the future
Gas and LNG come out from oil’s shadow, part 2: The power of pipelines
Gas is difficult to move compared with oil, requiring additional infrastructure. The second part of our history of gas examines how expanding pipeline networks made it possible to monetise the fuel
Gas and LNG come out from oil’s shadow, part 3: LNG and a global market
The third part of our fourth chapter on the history of oil takes the story of gas to the present day with the rise of LNG and the creation of a truly global market
Colombian O&G starts to feel investment squeeze
Decarbonisation strategy is already hurting upstream appetite and threatening near-term energy security
Danish Greensand project set to advance
North Sea storage facility verified as safe to proceed after successful pilot phase
The fuel subsidies conundrum
The burden of subsidies on national economies seems to outweigh their political point scoring benefits, but removing them is not an easy task
Oil & gas in pursuit of the energy transition, part 1: Net zero and the trilemma
In the first part of the fifth chapter of our history of oil and gas, we move the story on to the climate crisis and push for net-zero carbon emissions
Australia’s unresolved fuel security risks
Lack of competitiveness in refining sector and underbaked oil reserves threaten long-term stability
Oil & gas in pursuit of the energy transition, part 2: IOCs and climate change
European oil and gas firms are taking a different approach to the transition when compared with their American cousins. The second part of the fifth chapter of our history of oil and gas examines the ocean separating IOCs
Letter on Africa: New African refineries could help break old dependencies
A profound shift is occurring in the global refining sector, one which might help redefine Africa’s place in worldwide trade networks
Oil & gas in pursuit of the energy transition, part 3: NOCs and the transition
The third part of the fifth chapter of our history of oil and gas turns the focus on state-owned oil and gas firms, the biggest players in the industry
Mozambique’s LNG ambitions advance
The country’s stalled liquefaction projects are inching forward, even as upcoming elections and persistent security problems in the resource-rich north continue to pose significant hurdles
Lessons from oil’s past
Today’s policymakers should keep in mind the history of oil and gas as they look to remake the future of energy
Asian demand critical to absorb fresh LNG supply
Purchasing from region will help determine if prices will stay buoyant in the second half of this decade as supply increases, with significant volumes due online in the next three years
Russia’s quest for energy ‘technological sovereignty’, part 1
The country inherited a near self-sufficient oil and gas industry from the USSR, and it is working fast to eliminate shortfalls in its domestic capability, where advanced drilling and subsea technologies remain a vulnerability
Iran’s energy dominoes on the brink
The country’s widening energy deficit could have a knock-on effect on energy-intensive industries
From the Archives: Oil in the far east
As part of our 90th anniversary, we take a look at how Petroleum Economist covered key events in the history of oil and gas. Firstly, our founder Oskar Tokayer reports on Japan's war in the Pacific in January 1942
CarbonCapture pauses Bison DAC project
Developer cites growing competition for clean power as it puts project in Wyoming on hold
Northern Lights nears start up as facilities in place
Norway claims world lead in commercial CO₂ transport and storage as project developed by TotalEnergies, Shell and Equinor stands ready to start injections in 2025
Russia’s quest for energy ‘technological sovereignty’, part 2
The country faces big challenges as it seeks to replace Western suppliers when it comes to LNG carriers, while sanctions have all-but halted its petrochemicals expansion
Russian LNG scrambling to emulate oil’s success
A sanctions-defying ‘shadow fleet’ is being assembled, but it remains unclear where Russia will sell the liquefied gas while Arctic LNG 2 remains strangled by sanctions
Chinese NOCs see upstream gains and downstream losses
China’s state-owned oil companies have succeeded in raising domestic oil and gas production, but their refining businesses are being squeezed
Letter on carbon: CCS negativity is hard to abate
The oft-fragmented and disparate sector must find ways to speak with a collective voice and debunk the anti-CCS doublethink
Canada’s oil industry adjusts to new reality
The days of bumper output may be behind the producer, but moderate growth could persist for some time, especially if demand and oil prices stay high