Angitha Pradeep analyses the UAE’s role as a global player in the hydrocarbon, renewable, and nuclear sectors as the current economic and geopolitical setting impacts its diversification strategies
Industry Trends
Posted inNews, Energy Transition
Global oil and gas investments to grow $26 billion in 2022: Report
In 2021, global oil and gas investments hit $602 billion, but in 2022 investments will rise to $628 billion
Oil and gas investments around the world are set to increase by $26 billion this year, a four percent increase from last year, as the industry continues its recovery from an unprecedented downturn caused by the Covid-19 pandemic, according to Rystad Energy. In 2021, global oil and gas investments hit $602 billion, but in 2022 […]
Posted inNews
Examining the Middle East as a hydrogen hub
Oil & Gas Middle East’s first hydrogen thinktank series discussed the challenges ahead for hydrogen adoption, including difficulties in categorisation and the competition between blue and green hydrogen
Climate change and the energy transition have been top of the agenda for the energy industry, with discussions at the COP26 summit in Glasgow, and ADIPEC 2021 focusing heavily on how to move to a lower carbon future. A recurring topic in these discussions has been hydrogen, be it green, blue, or any of the […]
Posted inNews
Renewable electricity deployment accelerating: Report
The world’s capacity to generate renewable electricity is accelerating, according to the IEA
With stronger policies linked to climate change, renewables are now being deployed at record levels, with the world’s capacity to generate electricity from renewable sources, such as solar panels and wind turbines, set to accelerate over the coming years, the IEA said in a report. The report, titled Renewables 2021, found that the number of […]
Posted inNews, Products & Services
HSE must be driven by people, not milestones
During the Oil & Gas Future Forum, Shaun Hannam, EMEA head of HSES at McDermott commented on the company's HSE focus areas in the future, and how the sector and its KPIs must transform
How have your priorities shifted due to the pandemic? On the human side of HSE, we are capitalising on the visibility of our leadership and they appreciate the power of close interaction with people across the company, of being active, and of simply listening to employees. That is something we have maintained, and we have […]
Posted inExploration & Production
US to release crude oil from strategic petroleum reserve
US President Joe Biden will release 50 million barrels of crude oil from the nation's Strategic Petroleum Reserve
On 23 November, US President Biden announced the release of 50 million barrels (mbbl) of crude oil from the US Strategic Petroleum Reserve (SPR). Wood Mackenzie vice president Ann-Louise Hittle said: “Of the release, 32 mbbl is a loan for delivery by end-April next year. The other 18 mbbl is a direct sale and […]
Posted inEnergy Transition
Energy industry needs COP26 ‘post-mortem’: OPEC’s Barkindo
The energy transition must take place at a reasonable pace, and investments are still needed in the sector, according to a ministerial panel at ADIPEC
OPEC Secretary General Mohammad Barkindo has warned that the energy sector must “take stock” and perform a “holistic post-mortem” following the COP26 climate conference. During a panel at ADIPEC in Abu Dhabi, he said that the oil and gas sector was “targeted” during COP26, and that it was “clearly stated that this industry has no […]
Posted inExploration & Production, DRILLING & PRODUCTION
Oil prices lightly fluctuate but bullish environment persists
Even though oil prices are trading slightly lower today, the overall market environment is bullish and a US crude storage draw confirmation could again tilt the scale towards gains
Even though oil prices are losing a few cents to the dollar today, the overall sentiment has lifted since yesterday and the market should see the forest for the trees, as overall market conditions remain bullish and – under the current oil supply status quo – oil valuation is on track for further ascent. If […]
Posted inExploration & Production, DRILLING & PRODUCTION
Gas market at an unstable equilibrium, waiting for supply hints
This week gas prices are at an unstable equilibrium, with traders waiting for further supply hints and watching Russia-Europe flows with bated breath
In Europe, the resumption of Russian gas flows to Germany at Mallnow and small injections into German storage at Rehden have calmed traders nerves and prices after a week of volatility. On the other hand, temperatures over the next few weeks are forecast to trend at or below normal through most of North West Europe. […]
Posted inExploration & Production, DRILLING & PRODUCTION
Specific strategies are largely absent in US and EU’s Global Methane Pledge
While the US and EU launched the Global Methane Pledge, the strategic details are unclear
In an announcement made at COP26, the US and EU jointly kicked off the Global Methane Pledge, which aims to reduce methane emissions by 30% by 2030, and over 100 countries have joined the initiative; Miles Weinstein, Energy Transition Analyst at GlobalData, a leading data and analytics company, offers his view: “In total, the participating […]
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