Industry View

A vicious circle: How climate change increased the need for fossil fuels and their profitability in 2021

As the climate is changing, the Arctic is warming four times faster than global averages, causing the circumpolar Jetstream to weaken and move southwards. Consequently, freezing cold air masses – known as the Polar Vortex – descend to more densely populated areas in the earth’s Northern Hemisphere, where humans have no other immediate choice but to increase fossil fuel consumption to keep warm.

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US oil products demand is set for an additional 350,000 bpd ‘Biden boost’ in 2021 if promises are kept

After a devastating 2020, Rystad Energy projected demand for oil products in the US to grow by 1.08 million bpd in 2021 to 19.1 million bpd.

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The UK offers operators best profit conditions to develop big offshore fields; Kuwait, Canada follow

This year marks the beginning of a recovery after a disappointing 2020, when the Covid-19 pandemic caused sanctioning of offshore projects to dip to $44 billion from $99 billion the year before.

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The share of gas flared in the Permian has fallen to its lowest level of the Shale era

The share of gross gas output that is flared at the wellhead in the US’ prolific Permian Basin has plummeted to a modern Shale-era record low, with an analysis of preliminary data suggesting only 1.6% of the basin’s gas production was flared in the fourth quarter of 2020.

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Good ingredients but bad cocktail: Combining offshore wind and green hydrogen is still too expensive

Several large-scale offshore wind farms are planned in the next five years in the North Sea. The area not only has plenty of ageing platforms and pipelines that could host production and transmission of hydrogen cheaply.

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An analysis of the upstream industry’s dirty laundry: Whose production has the lowest CO2 intensity?

The carbon footprint of exploration and production companies (E&Ps) is having an increasing impact on investment levels, access to capital and – in some regions – the social license to operate.

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Gas year 2020 review: Global gas production exceeded demand, US led liquefaction capacity race

2020 was a year that hurt demand for all fuels, and natural gas was no exception. Rystad Energy has analyzed all of the year’s gas-related activity and produced a thorough report, offering som key figures and some long-term outlook.

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