Oil and gas will be needed during the transition to meet energy demand
Outlook 2022: A ‘just’ or ‘just in time’ transition for the UK North Sea?
For over 200 hundred years, the world has relied on fossil fuels for affordable, reliable energy. How does it get to an economy based on greener energy without triggering an adverse reaction?
This year saw dramatic manifestations in the UK of the delicate nature of energy supply and demand. A mere suspicion of potential fuel shortages resulted in panic buying of petrol. And a slew of energy suppliers went bust due to record wholesale gas prices juxtaposed with a government-mandated energy price cap. There are varying schools of thought on how to move forward as we go into 2022. One is to stop investment in fossil fuels immediately and live with the consequences, with any disruption justified to expedite green energy development as a matter of necessity. The other is a more conservative—or perhaps pragmatic, given the underlying market structures—approach, looking at the forecast
Also in this section
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
