While the oil price collapse is still fresh in our minds, rumours are starting to emerge that by the end of next year prices could once again top $100 a barrel.
The world’s oil and gas industry’s production will peak lower and earlier than expected before the 2020 market crisis, a Rystad Energy analysis shows.
State-owned oil companies could waste around $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, NRGI said in its latest research.
The oil and gas industry expects to boost investment in the energy systems of the future this year as companies seek to transform for the long term, DNV GL said.
The Covid-19 pandemic caused the value of 2020’s awarded contracts to slump to a 16-year low, according to Rystad Energy.
Lamprell has decided to reorganise into three new business units, Renewables, Digital, and Oil & Gas as part of its efforts to focus on energy transition.
New research has shown that aggregate fossil fuel demand would peak in 2027 with oil peaking in 2029 and gas in 2037, partially due to the impacts of COVID-19.
Rystad Energy has conducted a comprehensive company-level analysis of the world’s upstream industry, identifying the top carbon-intensity performers.
Westwood has reported that 72 high-impact wells were drilled in 2020, which is below 2019 level when 99 wells were drilled. In 2021, Westwood’s projections indicate that activity could at least reach 2020 levels with the potential to reach up to 100 wells.
Following a year of Coronavirus pandemic effects, demand for liquefied natural gas (LNG) is expected to recover rapidly in 2021.
The Covid-19 pandemic has devastated crude and condensate demand, creating massive supply surpluses and filling up inventories, according to Rystad.
Over three quarters or 77 per cent of new LNG supply are at risk under a 2-degree scenario, according to the latest report by Wood Mackenzie.
The world is on track to run out of sufficient oil supplies to meet its needs through 2050 unless exploration speeds up, Rystad Energy reveals.
With the first lockdowns in place in March 2020, the Internet and social media were buzzing with posts and images of empty cities, and in some cities, even wild animals were pictured roaming the streets as if nature was reclaiming the world from humanity. As governments across the globe shut down th
