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Oil And Gas Industry Future Outlook Pdf

oil and gas industry future outlook pdf

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The impact of the crisis is, however, expected to have repercussions on the medium-term growth potential, resulting in about 75 bcm of lost growth over the forecast period, to This forecast expects an average growth rate of 1. In spite of the current economic headwinds and uncertainty, natural gas still benefits from strong policy support in both countries, with ongoing reforms to increase the role of gas in the energy mix. Future growth in the industry sector, which constitutes the main driver of incremental gas demand in both countries, will however highly depend on the pace of economic recovery, both for domestic and export markets for industrial goods. Production growth in the Middle East is driven by the ramping up of large conventional projects in Saudi Arabia, Iran, Israel, Iraq and Qatar — for which the oil price collapse and uncertainty represent a substantial downside risk in the first years of the forecast.

Introduction to Oil and Gas Industry

The oil and gas industry is facing increasing demands to clarify the implications of energy transitions for their operations and business models, and to explain the contributions that they can make to reducing greenhouse gas emissions and to achieving the goals of the Paris Agreement.

The increasing social and environmental pressures on many oil and gas companies raise complex questions about the role of these fuels in a changing energy economy, and the position of these companies in the societies in which they operate.

The oil and gas industry is facing increasing demands to clarify the implications of energy transitions for their operations and business models, and to explain the contributions that they can make to reducing greenhouse gas GHG emissions and to achieving the goals of the Paris Agreement. This report does not aim to provide definitive answers, not least because of the wide diversity of oil and gas companies and company strategies around the world.

It does aim to map out the risks facing different parts of the industry, as well as the range of options and responses. Three considerations provide the boundaries for this analysis. First, the prospect of rising demand for the services that energy provides due to a growing global population — some of whom remain without access to modern energy — and an expanding global economy. And last but far from least, the imperative to reduce energy-related emissions in line with international climate targets.

These elements may appear to be in contradiction with one another, but this is not necessarily the case. The SDS and the range of technologies that are required to achieve it provide a benchmark for the discussion throughout this report.

The oil and gas industry faces the strategic challenge of balancing short-term returns with its long-term licence to operate. Societies are simultaneously demanding energy services and also reductions in emissions. The analysis in this report highlights that this could be possible if the oil and gas industry takes the necessary steps.

This effort would be greatly enhanced if more oil and gas companies were firmly and fully onboard. No oil and gas company will be unaffected by clean energy transitions, so every part of the industry needs to consider how to respond. The industry landscape is diverse and there is no single strategic response that will make sense for all. Attention often focuses on the Majors, seven large integrated oil and gas companies that have an outsized influence on industry practices and direction.

National oil companies NOCs — fully or majority-owned by national governments — account for well over half of global production and an even larger share of reserves.

There are some high-performing NOCs, but many are poorly positioned to adapt to changes in global energy dynamics. For the moment, there are few signs of a major change in company investment spending. For those companies looking to diversify their energy operations, redeploying capital towards low-carbon businesses requires attractive investment opportunities in the new energy markets as well as new capabilities within the companies. A much more significant change in overall capital allocation would be required to accelerate energy transitions.

There is a lot that the industry could do today to reduce the environmental footprint of its own operations. Minimising emissions from core oil and gas operations should be a first-order priority for all, whatever the transition pathway. There are ample, cost-effective opportunities to bring down the emissions intensity of delivered oil and gas by minimising flaring of associated gas and venting of CO 2 , tackling methane emissions, and integrating renewables and low-carbon electricity into new upstream and liquefied natural gas LNG developments.

Reducing methane leaks to the atmosphere is the single most important and cost-effective way for the industry to bring down these emissions. Bringing down emissions from core oil and gas operations is a key step in helping countries to get environmental gains from using less emissions-intensive fuels. However, it is also vital for companies to step up investment in low-carbon hydrogen, biomethane and advanced biofuels, as these can deliver the energy system benefits of hydrocarbons without net carbon emissions.

The oil and gas industry will be critical for some key capital-intensive clean energy technologies to reach maturity. The resources and skills of the industry can play a central role in helping to tackle emissions from some of the hardest-to-abate sectors. This includes the development of carbon capture storage and utilisation CCUS , low-carbon hydrogen, biofuels, and offshore wind. Scaling up these technologies and bringing down their costs will rely on large-scale engineering and project management capabilities, qualities that are a good match to those of large oil and gas companies.

For CCUS, three-quarters of the CO 2 captured today in large-scale facilities is from oil and gas operations, and the industry accounts for more than one-third of overall spending on CCUS projects. If the industry can partner with governments and other stakeholders to create viable business models for large-scale investment, this could provide a major boost to deployment.

A fast-moving energy sector would change the game for upstream investment. Investment in upstream projects is still needed even in rapid transitions, but the type of resources that are developed, and how they are produced, changes substantially.

Consequently, investment in existing and some new fields remains part of the picture. But as overall investment falls back and markets become increasingly competitive, only those with low-cost resources and tight control of costs and environmental performance would be in a position to benefit.

This means moving into sectors, notably electricity, where there is already a large range of specialised actors and where the financial characteristics and scale of most low-carbon investment opportunities are with the partial exception of offshore wind a long way from traditional oil and gas projects. Electricity provides long-term opportunities for growth, given that it overtakes oil in accelerated energy transitions as the main element in consumer spending on energy.

NOCs face some particular challenges, as do their host governments. The stakes are high for NOCs that are charged with the stewardship of national hydrocarbon resources, and for their host governments and societies that often rely heavily on the associated oil income. Changing energy dynamics have prompted a number of countries to renew their commitment to reform and to diversify their economies; fundamental changes to the development model in many major resource holders look unavoidable.

NOCs can provide important elements of stability for economies during this process, if they are operating effectively and alert to the risks and opportunities. Some leading NOCs are stepping up research efforts targeting models of resource development that are compatible with deep decarbonisation, e.

The transformation of the energy sector can happen without the oil and gas industry, but it would be more difficult and more expensive. Oil and gas companies need to clarify the implications of energy transitions for their operations and business models, and to explain the contributions that they can make to accelerate the pace of change.

This process has started and company commitments to reduce emissions or emissions intensities are becoming increasingly common. However, the industry can do much more to respond to the threat of climate change. Regardless of which pathway the world follows, climate impacts will become more visible and severe over the coming years, increasing the pressure on all elements of society to find solutions. Thank you for subscribing. You can unsubscribe at any time by clicking the link at the bottom of any IEA newsletter.

IEA Skip navigation. Close Search Submit. Fuel report — January Abstract Introduction Key findings. Downloads 1. Cite report Close dialog. Share this report Close dialog. Downloads Close dialog. Press release Press release. Subscription successful Close dialog.

The Oil and Gas Industry in Energy Transitions

The oil and gas industry has always been erratic. Prices went up and down, energy suppliers were approved and sanctioned, and often when all that happened, monies were quickly made and lost. This year can be reasonably called a year of multi-pronged disruption. First, there was a global oversupply, later we saw a sharp slump in demand caused by the COVID outbreak, and finally, a social calling to provide a good response to global warming. All these challenges have heralded massive changes and accelerated the inevitable digital transformation in oil and gas.

India consumed The import dependency of crude oil and LNG during was For further details, please refer FDI Policy. India has witnessed a steady increase in production as well as consumption of petroleum products over the years. In the month of December more than 4. Format for registration of bidders from countries which share land border with India in public procurement. Export Parity Price is the price which oil companies would realize on export of petroleum products.


We see five trends that may challenge the traditional way of operating and working, determine the direction of the industry, and start separating.


Oil & Gas Industry in India

Nikita O. Grushevenko 1 ,2. Received: 22 April Accepted: 16 July Yet, nowadays the industry is facing a number of serious challenges, which threaten to undermine its sustainability. These challenges include depletion of the conventional oil resources, technological and economic sanctions and stagnating demand for liquid fuels, especially apparent in Russian traditional export destinations — Europe.

Impelled Digitalization or Oil and Gas Industry Outlook 2021 and Beyond

Oil examines the key issues in demand, supply, refining and trade to Oil looks at the interplay between the expanding US influence in global oil supply and the demand from Asia for exports from the Middle East. At the same time, global energy transitions are affecting the oil industry: companies must balance the investments needed to ensure sufficient supplies against the necessity of cutting emissions. In a decarbonising world, refiners face a big challenge from weaker transport fuel demand. The outbreak of the new coronavirus COVID has added a major layer of uncertainty to the oil market outlook at the start of the forecast period covered by this report.

Across industries, CEOs are realizing the importance of agility in sustaining and growing their business. More than half acknowledge agility as the new currency of business and that growth relies on the ability to challenge and disrupt business norms. Despite this realization, just under half of global CIOs feel their organizations are better than competitors at responding to changes in the business environment.

Oil and gas sector is among the eight core industries in India and plays a major role in influencing decision making for all the other important sections of the economy. The Government has adopted several policies to fulfil the increasing demand. India is expected to be one of the largest contributors to non-OECD petroleum consumption growth globally. India retained its spot as the third largest consumer of oil in the world in with consumption of 5. Private companies own about In FY20, crude oil production in India stood at In FY20, crude oil import increased to 4.


our outlook for the oil and gas industry. Given the disruption and impact caused by COVID, we've evaluated the key trends, challenges.


The oil and gas industry is facing increasing demands to clarify the implications of energy transitions for their operations and business models, and to explain the contributions that they can make to reducing greenhouse gas emissions and to achieving the goals of the Paris Agreement. The increasing social and environmental pressures on many oil and gas companies raise complex questions about the role of these fuels in a changing energy economy, and the position of these companies in the societies in which they operate. The oil and gas industry is facing increasing demands to clarify the implications of energy transitions for their operations and business models, and to explain the contributions that they can make to reducing greenhouse gas GHG emissions and to achieving the goals of the Paris Agreement. This report does not aim to provide definitive answers, not least because of the wide diversity of oil and gas companies and company strategies around the world. It does aim to map out the risks facing different parts of the industry, as well as the range of options and responses.

Considered being the biggest sector in the world in terms of dollar value, the oil and gas sector is a global powerhouse using hundreds of thousands of workers worldwide and generating hundreds of billions of dollars globally each year. In regions which house the major NOCs, these oil and gas companies are so vital they often contribute a significant amount towards national GDP. The energy sector has three key areas: Upstream , midstream and downstream.

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Защитники поспешили на свою половину поля. - А ты? - спросил Беккер.  - Что предпочитаешь. - У меня черный пояс по дзюдо.

На экране перед ними высветилось сообщение об ошибке: НЕДОПУСТИМЫЙ ВВОД. ТОЛЬКО В ЦИФРОВОЙ ФОРМЕ - Черт его дери! - взорвался Джабба.

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