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Forward Intelligence

The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead

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EMEA

Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns around over-dependence on a single supplier and desire to drive down the price make it relatively unlikely a contract will be finalised this year
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
While commerciality still needs to be fully confirmed, Azule has hailed the find as a “landmark moment” for gas exploration in the southwest African country—better known for its substantial oil production.

Carbon Economist

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