Oilmageddon
Prices down or up – it doesn’t matter. The world’s oil sector is in the endgame
In my book, The Winning of the Carbon War, I argue that 2013 to 2015 were turn-around years that will lead to decarbonisation of the global economy. The course of 2016, I suggest, has been consistent with a global transition from fossil-fuel dominance to the zero-carbon economy. If this analysis is correct, the oil and gas industry is heading for a future very different to its past - 2017 will simply confirm the trend. Three fundamental megatrends are at work. First, society is awakening in critical mass to the twin threats of climate change and air pollution - and responding. Second, an energy insurgency is disrupting established energy markets, fast. Third, the energy incumbency is facing
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5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
