Petroleum Economist
October 2023
The October issue of Petroleum Economist is out now!
Letter on carbon: Reality check
The IEA has tempered recent optimism over CCUS with a downbeat assessment of the technology’s role in achieving net zero
1Pointfive and Adnoc study large-scale DAC
Companies jointly fund preliminary engineering study of first megaton-scale DAC facility outside US
German researchers ready to scale new DAC system
Successful trials prove reliability of system using waste heat to reduce power consumption, says Centre for Solar Energy and Hydrogen Research Baden-Wuerttemberg
Corporate heavyweights back Japan’s CCS push
Inpex and Mitsubishi Heavy Industries among participants in seven large-scale projects as government sets ambitious expansion targets
The Gulf Energy Information Excellence Awards 2023 winners
The 2023 Gulf Energy Information Excellence Awards was held on Wednesday evening at the Post Oak Hotel in Houston, Texas
North Sea Porthos carbon storage project hits FID
Netherlands’ first major storage project sees costs more than double after two-year delay
Eni claims CCS regulation breakthrough with UK deal
Head of terms agreement for HyNet North West cluster paves way for world’s first asset-based regulated CCS business
China set to relaunch voluntary carbon market
Government publishes new methodologies and regulation for offsets programme that was shelved in 2017
VCMs’ other fragmentation problem
The growing number of individual national carbon exchanges threatens to fragment much needed liquidity
Letter on carbon: Betting on Berlin
Europe’s CCUS sector needs the German government to deliver on its promise of an ambitious carbon management strategy
Leaders
Aramco’s Nasser says energy security and sustainability can co-exist
But CEO says prematurely discontinuing investments in fossil fuels threatens serious supply shortfalls and may be counterproductive to energy transition
Aramco’s Nasser says energy security and sustainability can co-exist (1)
But CEO says prematurely discontinuing investments in fossil fuels threatens serious supply shortfalls and may be counterproductive to energy transition
Lack of oil and gas investment could be serious issue, warns IEF’s McMonigle
Secretary General believes linear and ideal forms of energy transition will be difficult to achieve especially with false narratives around peak oil demand
Pavilion Energy: Fuelling ambitions for a sustainable energy future
Singapore-based global energy merchant has taken a fundamental first step towards decarbonisation by encouraging its suppliers to document their greenhouse gas emissions
Southeast Asia embraces LNG
Vietnam and the Philippines lay down a marker for the region’s growth prospects with new import terminals
Energy crisis resets expectations for Asia-Pacific LNG demand
Reliability and affordability key in price-sensitive Asian market amid renewed global dependency on natural gas
Gas remains crucial to Southeast Asia’s energy balancing act
The fuel will have a continuing role to play as the region seeks to balance growing energy demand with targets to reduce emissions
Asia’s quest for low-emission LNG
Appetite among the region’s buyers for LNG that can demonstrate low greenhouse gas emissions amid recognition of long-term fossil fuels role
Forward Intelligence
The oil market’s new polymorphism
From crude flows to oil prices, S&P Global Commodity Insights highlights the market’s ability to overcome adversity, albeit with costs involved
Karpowership charts unique course
The floating power station specialist discusses its plans in South Africa and elsewhere
Markets facing distillate squeeze
Crude production cuts and refinery outages mean high prices are looming for heating oil and diesel this winter, and greater shale output will do little to help
In Depth
Letters
Letter from Singapore: Beware oil investment’s death rattle
High prices are no longer a guarantee for increased investment in oil projects despite the warnings of an energy crunch