Nurturing the green shoots of upstream growth
A combination of cuts to upstream capital spending and steepening well decline rates will threaten global supply security, industry leaders warn
As companies doubled down on cutting costs over the past two years, a leaner and more efficient upstream industry has started to emerge. That was one of the key messages from the Upstream session at AOGC 2017 on 8 May, which saw leading industry figures chart new routes for upstream success in a panel appropriately entitled the Green Sheets of Growth. Shaikh Nawaf al-Sabah, chief executive of Kuwait Foreign Petroleum Expansion Company, kicked off proceedings by underscoring the sheer scale of the disinvestment seen under the low-price climate. "About $1 trillion has been removed as capex from companies' development plans," he said, noting this has had an inevitable impact on exploration succ
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
