Outlook 2022: Profiting from the transition
The shift to lower-carbon energy may disrupt legacy business models but will also present major opportunities for many oil and gas companies
The energy world is in transition. Following the Cop26 climate conference, it seems the industry is bending the emissions curve, with an average global warming of less than 2°C by 2100 in sight. There are, however, two particular aspects emerging from the debate that seem contradictory at first sight: the impossibility of full electrification of our economy; and the imperative to decarbonise our energy system. The first point means oil and gas is not going away anytime soon. The coronavirus-induced demand collapse is almost over, with global oil demand surpassing 100mn bl/d. Note that this is a full recovery, even without jet fuel demand returning to 2019 levels. The IEA provides a range of

Also in this section
13 May 2025
Volatile tariffs add new risks for a sector already struggling to achieve economies of scale
30 April 2025
State administrations are using a flawed metric to justify green energy projects
29 April 2025
Spain’s unprecedented blackout highlighted the risk for green hydrogen producers with exposure to Europe’s creaking power grids
24 April 2025
Liverpool Bay project on track for 2028 startup as Italian energy company reaches financial close with government for CO₂ transport and storage network