Workers prepare to dismantle an oil rig in Gujarat, India
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
Some energy professionals have been writing the obituary for oil investment for several years. A disdain for financing hydrocarbons across the banking world, punitive measures on energy companies that dare to make a profit, a cult-like pursuit of ESG and fears of stranded assets amid apocalyptic warnings of a collapse in oil demand have left the industry on life support. But what does not kill you only makes you stronger, right? The crux of the matter is the relationship between oil prices and investment. The two have understandably had a close correlation. Higher prices lead to greater investment, which then leads to a glut in projects, a crash in the price, a cull in investment and—once ag
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
