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    Home > Chemicals Industry > Petrochemical News > Under the energy transition, the oil and gas industry cannot be taken lightly

    Under the energy transition, the oil and gas industry cannot be taken lightly

    • Last Update: 2021-06-10
    • Source: Internet
    • Author: User
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    Although it is only a model scenario prediction, in the current environment of energy transition, the oil and gas industry cannot be taken lightly.


    New oil supply is no longer an industry theme

    It can be seen from the forecast that the existing assets in production are sufficient to meet the declining global oil demand, but this does not mean that it is no longer necessary to search for new reserves and replace the high-cost mining with new discoveries with higher economic efficiency.


    How to optimize assets, determine the choice of assets based on multiple factors, and maintain the benign commercial exploitation of assets until all their potential is exhausted, will become the primary issue for upstream oil and gas companies, and how to make good use of carbon storage technology is also critical for these companies.


    The roles of oil-resourced countries and gas-resourced countries are swapped

    In 2050, although OPEC will hold 50% of the market share, its control will be weakened.


    While OPEC loses power in the market, the market position of Qatar and Russia will be elevated due to natural gas.


    The downstream oil and gas are hit hardest

    After the decline in oil demand, downstream industries will continue to reshuffle as demand collapses, and several projects will be shut down every year.


      By 2050, the global comprehensive oil refining gross profit will be negative, and only the most competitive assets can barely survive.


      The era of carbon neutral natural gas is coming

      The exchange of the roles of natural gas and oil prices will push capital to lean toward natural gas projects more quickly.


      The pricing system will also undergo major changes.


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