Oil & gas in pursuit of the energy transition, part 1: Net zero and the trilemma
In the first part of the fifth chapter of our history of oil and gas, we move the story on to the climate crisis and push for net-zero carbon emissions
The COP28 meeting launched a number of initiatives, most of which will have important impact on the greenhouse gas (GHG) emissions. For example, the Global Renewables and Energy Efficiency Pledge commits the signatories to triple the world’s installed renewable energy generation capacity and double the global average annual rate of energy efficiency by 2030. In the oil and gas (O&G) sector, 52 countries signed an O&G Decarbonization Charter, committing to net-zero operations by 2050 at the latest and ending routine flaring, resulting in near-zero upstream methane emissions by 2030. If governments fully implement their pledges, the “oil and gas demand would be 45% below today's leve
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
