The energy transition opens up opportunities
Outlook 2022: Profiting from the transition
The shift to lower-carbon energy may disrupt legacy business models but will also present major opportunities for many oil and gas companies
The energy world is in transition. Following the Cop26 climate conference, it seems the industry is bending the emissions curve, with an average global warming of less than 2°C by 2100 in sight. There are, however, two particular aspects emerging from the debate that seem contradictory at first sight: the impossibility of full electrification of our economy; and the imperative to decarbonise our energy system. The first point means oil and gas is not going away anytime soon. The coronavirus-induced demand collapse is almost over, with global oil demand surpassing 100mn bl/d. Note that this is a full recovery, even without jet fuel demand returning to 2019 levels. The IEA provides a range of
Also in this section
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
