Even though this is a historic agreement in that for the first time it commits to “transitioning away from fossil fuels”, it still leaves a role for oil and gas in future energy systems for a long time to come. [Gas in Transition, Volume 3, Issue 12]
Blockbuster takeovers by U.S. oil and gas majors Exxon and Chevron this month may spark further consolidation in the energy industry after a quieter third quarter for mergers and acquisitions in the sector, analytics firm Enverus said.
Striking a balance between energy security, affordability and availability is no easy feat given the market’s turbulence over the past few years, Paul Marsden, president of Bechtel’s global energy business, tells NGW.
While European majors embraced climate change proactively and adopted strategies investing heavily in renewables and low-carbon projects, their US counterparts remained focused on the resilience of global oil and gas demand. Evidently this strategy is paying off. US oil and gas majors have been consistently outperforming their European counterparts, but the divergence is narrowing. [Gas in Transition, Volume 3, Issue 6]