Petroleum Economist
Europe’s LNG buildout signals brave new world
The EU’s new gas strategy may have wriggled free of complacency and insularity, but demand destruction and chokepoints are just some of the key risk factors
VCMI acts to boost trust in offsets
Non-profit group launches rulebook for companies claiming climate progress on the back of purchased offsets
UK backs engineered carbon removal with ETS
Government set to include Dac and Beccs in national emissions trading scheme as part of package of reforms
Shell and Man in carbon capture collaboration
Two companies sign MoU to work together on reducing costs and accelerating rollout of projects
Letter from South America: The rise and fall of Ecuador’s oil industry
Uncertain whether political change would change Opec member’s energy fortunes
A red flag for security of Russian oil supplies
Internal strife and a prolonged war in Ukraine threaten a precarious balance that has kept oil flowing
Is LNG getting easier again for trading houses?
Market volatility put a significant strain on the commodity traders in 2022, but there are some signs of green shoots
Trinidad & Tobago looks to awaken the Dragon
The island nation’s energy minister delivers a bullish outlook on oil and gas both home and abroad
Will US LNG stampede lead to costly overbuild?
The US’ emergence as the world’s largest LNG producer is good news for gas-hungry Europe, but the project pipeline raises questions about how much capacity will be needed
Outages could drive renewed European gas price volatility
Europe is better prepared than last winter, but risks remain
Denbury set for rapid CCUS expansion
Texas-based firm forms partnerships to develop 300mn t of new CO₂ storage capacity in southeastern Louisiana
Letter from London: Some fuels are more equal than others
For those demonising oil and gas, there is a plot twist: the real bogeymen are coal and the world’s voracious appetite for energy
Developers eye rapid UK offshore CO₂ storage growth
Companies have near-term ambitions to bring online 37 storage sites by 2035, according to industry survey by Crown Estates
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East Asian LNG demand may not threaten Europe
Risks persist, particularly those related to weather, which could tighten gas availability for Europe
Leading energy organisation announces new name and brand strategy
World Petroleum Council undertakes comprehensive review, expands focus to emerging energy trends and announces new brand strategy
Aramco explores use of modular CCUS
Saudi company signs MOU with Norwegian technology supplier Aker Carbon Capture to assess potential for deployment across range of industries
Gibson buys Texas terminal amid bullish outlook for US oil exports
Growing global thirst for light sweet crude contrasts with potential refining decline and risks of inland infrastructure bottlenecks at home
July/August 2023
The July/August issue of Petroleum Economist is out now!
Europe redraws lines on gas infrastructure map
The continent’s gas revamp looks to both LNG and nearby pipelines
Optimism grows around Mexican upstream
Things are looking up for exploration and production in Mexico, with new finds and developments set to boost output in coming years
Hydrocarbons are a clean fuel for 30% of the world
The Russia crisis has brought some rational thinking back into the broader energy conversation around what constitutes clean and affordable fuel
Buckeye buys Elysian Carbon Management
Houston-based midstream oil company signals commitment to transition with purchase of CCS developer
Shell and ConocoPhillips back hybrid DAC technology
Oil companies invest in Los Angeles-based Avnos to help commercialise novel technology by end of 2025
Oil and gas must face climate change head on
Pushing for more fossil fuels is counter-productive to hydrocarbons’ important long-term role
Iran’s crude increases raise US, OPEC+ questions
A tight sour oil market and a reluctance by Washington to take a hard line could allow the OPEC producer to keep testing boundaries, but for how long?
ExxonMobil boosts CCS portfolio with $4.9b Denbury deal
Acquisition of Texas-based independent gives oil major largest US CO₂ pipeline network and ten onshore storage sites
Letter from Vienna: OPEC wrestles with a plethora of contradictions
Saudi Arabia and its allies delivered a strong message with a collective voice at the OPEC seminar in Vienna, but just as important was what was left unsaid
Ghana poised for short and medium-term oil boosts
New wells at the Jubilee field will lift output in 2023, while the Pecan field offers longer-term prospects if development can be progressed
Engineering the world’s largest post-combustion CCS plant
As part of the UK’s Humber Zero initiative, CCS plants will be retrofitted to a combined-cycle natural gas power plant adjacent to the Humber oil refinery
Canada can step up energy security role – CAPP
The country’s oil and gas trade association tells Petroleum Economist that Canada has both the means and the responsibility to expand its contribution to global energy security
Cenovus sees major role in reducing emissions
Canadian firm and its oil sands peers are targeting net zero by 2050 and are perfectly positioned to address the challenges of the low-carbon transition, says CEO Jon McKenzie
India’s SPRs could be too little, too late
A greater focus on oil security may not be enough to deliver a comprehensive strategy for the net importer’s strategic petroleum reserves
Uncertainty weighs on the Andean energy sector
Collapsing governments and crackdown on public dissent showcase growing instability
Mubadala Energy steps up CCUS push with Pertamina tie-up
Abu Dhabi-based company drives forward gas decarbonisation strategy with deal to explore CCUS applications in Indonesia
Delta sees LNG-to-power back on track in Vietnam
The company remains bullish despite last year’s LNG sector upheaval
Oman carves out niche in global energy trade
The country punching way above its weight in energy is less the story of a hydrocarbon bonanza and more that of a nation seeking to make the best out of what is available
Rio Grande lights the way for US LNG
Texas export facility’s remarkable turnaround will give fresh hope to other gas projects looking to secure FID
Letter from Canada: The coming energy war
Conflict between the federal government and Alberta’s new premier seems inevitable