"Global offshore oil and gas pipeline demand set for 26% drop in 2020, but recovery will be swift"
The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year, with the size of total installations forecasted to reach 2,150 kilometers (km), a Rystad Energy analysis shows.
"Energy transition could push oil majors to sell or swap oil and gas assets of more than $100 billion"
The global energy market is on the brink of a major transition to cleaner sources of energy. To adjust and transform, the world’s largest oil and gas firms are revising their long-term oil price and demand outlook, and need to streamline their portfolios significantly to improve cash flow, cost efficiency and competitiveness.
"Global oil & gas project sanctioning is set to recover and exceed pre-Covid-19 levels from 2022"
The Covid-19 pandemic has devastated global oil and gas project sanctioning this year and will cause total committed spending to drop to around $53 billion from 2019’s $190 billion, Rystad Energy projects.
"Size matters in offshore wind: Why costlier 14 MW turbines actually reduce the large-scale farm bill"
Siemens Gamesa’s massive 14-megawatt (MW) wind turbine is set to become commercially available from the mid-2020s, furthering the industry’s push for larger and more efficient facilities.
"Top North Sea emitter UK needs to electrify its rising oil and gas output to reach climate goals"
The British government has set a goal to reach net zero emissions by 2050. Electrification of oil and gas platforms on the UK continental shelf (UKCS) should play an important role in efforts to achieve this target, as a Rystad Energy analysis shows that UK oil and gas production will remain significant for decades to come.
"Australia’s gas and coal demand for power has peaked – to be overtaken by solar and wind from 2026"
Australia’s top two electricity generation sources, coal and natural gas, have both seen demand in the country peak, a Rystad Energy analysis shows.
"Why decommissioning a platform in Northwest Europe costs so much more than in Southeast Asia"
Platforms may be similar in characteristics and configuration, but the cost of decommissioning them can differ significantly depending on location, climate and regulations.
"There’s a catch! Turkey’s hooked Tuna gas discovery could save it up to $21 billion in import costs"
The future development of Turkey’s giant Tuna-1 gas discovery could save the country up to $21 billion in import costs, Rystad Energy estimates, depending on the field’s peak output, which remains to be determined pending appraisal drilling and further testing.
"Latin America’s renewable energy capacity set to skyrocket to 123 GW by 2025"
Latin America is emerging as a green powerhouse, with some of the strongest renewable capacity growth expected globally in the coming years.
"Europe could see $35 billion in CCS spending till 2035, with most capacity coming in the UK"
It’s been a long and costly two decades of carbon capture and storage (CCS) studies and test centers. Now Europe has reached a stage where big-scale developments make financial sense and could trigger up to $35 billion in development spending until 2035
"DUC well inventory sufficient to support US fracking deep into 2021, 280-300 rigs needed afterwards"
The recovery of fracking operations in the US is happening largely thanks to an unusually high inventory of drilled but uncompleted wells (DUCs), which is strong enough to sustain the current level of fracking without the industry adding more rigs to expand drilling deep into 2021.
"Low prices signal the beginning of success in Latin America’s renewable sector"
Latin America is emerging as a green powerhouse, with some of the strongest renewable capacity growth expected in the coming years.
"US will need 280-300 rigs to maintain tight oil output once DUC wells run out"
Crude production in the US lower 48 states, excluding the Gulf of Mexico, rebounded to 9.2 million barrels per day in July, as large volumes of curtailed production were turned online, according to Rystad Energy estimates.
"Energy Services: Going green"
As the world transitions towards a greener future, carbon capture and storage (CCS) is finally being deployed in Europe after two decades of studies and testing.
"West Africa: Production decline exacerbated by new project delays"
West Africa’s oil supply has been reduced by disruptions and mature field declines over the past years, and is expected to shrink further this year because of capital budget cuts and OPEC+ production curtailments.