The Energy Council’s annual Future Outlook Survey Report for 2022 is now available. Over 500 people from across the world responded to this year’s survey, and we have put together the report to reflect their thoughts, outlook, and ambitions regarding their approach to ESG, shifting oil prices, technological advances and the energy landscape as a whole.
How can existing energy infrastructure be transformed into something that is suited to a diverse energy mix?
‘Diversity of supply’ steadily entered the energy industry lexicon as the energy transition grew and found its feet, reflecting the need to balance fossil fuel pollutants with cleaner renewable generation capacity. Prior to this point, states relied on their resource-based competitive advantage, whether it be the world’s petro-states or ample hydroelectric supply. As the need for renewables grew, the often-hostile environments that preference wind and solar power suddenly found exceptional utility.
As European states continue to explore their options to secure a greater diversity of energy away from Russia, what is available to them – within the context of the energy transition – is slim. With that in mind, the North Sea’s oil and gas producers do stand alone as the most progressive players when it comes to engaging on their energy transition commitments.
With consumer prices reaching unsustainable levels for a prolonged period, while the climate shifts continue on their downward spiral – the Energy Council examines how continued investment into North Sea E&P can play a crucial role in advancing the energy transition.
The development of new oil and gas fields, and the continued exploitation of mature assets, had become a sticking point in the energy transition discussion. Yet such a discussion did not quite take into account the geopolitical interferences, energy demand and energy security needs that could arise unexpectedly – some may say foolishly. Fortunately, the energy sector has ramped up drilling activity to take advantage of the reprieve shown to North Sea operators. Herein, the Energy Council looks at the next steps of the industry players active in the region and where their futures may lie.
Read Kongsberg Digital’s expert insight on why digitalization should be a driver for energy investments.
Using gas as a bridge to transition is not a new concept but if the goal is to lower emissions whilst still providing affordable and reliable energy for all, one could argue that natural gas could, and should, be the bridge that can enable transition – cutting emissions in the short to medium term and solving the intermittency issue of renewables until the clean energy markets are more established.
It was recently announced that H.E Sultan Al Jaber, Chief Executive of the Abu Dhabi National Oil Company, will take centre stage as COP 28’s President. Whilst many climate activists have been angered by the decision, this could arguably be one of the best ways for the Oil & Gas industry to showcase the crucial role it plays in emissions reduction. Read more.
The Energy Council held 3 advisory board meetings ahead of the New York Energy Capital Assembly 2023. Read the key themes and takeaways here.
In the lead-up to the 10th Annual Asia Pacific Energy Capital Assembly & following the reopening of China’s borders, we are reflecting upon Asia’s Energy Trilemma…
The Energy Council’s annual Global Industry Survey 2023 is now available. Over 500 people from across our network responded to our survey, and from these responses we have put together the macro picture of the industry today including oil price predictions, the energy trilemma, finance and investment plans and exploration updates.
Last month, Michael Rubio, Director of Sustainability at Chevron, kicked off the New York Energy Capital Assembly 2023 by explaining how Chevron’s transition strategy is differentiated from its European peers. He addressed 100+ generalist investors at the NYSE to talk about Chevron’s strategy of delivering “Higher Returns, Lower Carbon”.