WoodMac: Upstream spend of $500bn a year enough to meet peak oil demand in 2030s
Investment of half a trillion US dollars a year will be enough for the world to meet peak oil and gas demand in the 2030s, according to new analysis.
peak oil
China’s oil demand to peak by 2030 says CNPC
China's oil consumption is expected to peak at about 780 million tonnes per year (about 111 million barrels) by 2030, driven by strong petrochemical demand, China National Petroleum Corp (CNPC) Economics & Technology Research Institute (ETRI) said on Sunday.
Big Oil: Time for a spin-off?
With Covid-19 continuing to impact the profitability of the supermajors, Ano Kuhanathan, sector advisor at trade credit insurer, Euler Hermes, argues that now is the time for the supermajors/Big Oil to start spinning off their renewables divisions.
Petrobras CEO calls net zero a fad, echoing Exxon oil focus
Petrobras is pledging a 25% cut in carbon emissions by 2030, but that hasn’t stopped Chief Executive Officer Roberto Castello Branco from dismissing pledges by peers to completely neutralize their carbon footprints two decades later.
Rystad revises peak oil prediction, says demand wont return to pre-Covid levels until 2023
Global oil demand is expected to peak at just over 102 million barrels per day (bpd) by 2028, two years earlier than originally thought.
US oil production has already passed its peak, Occidental says
America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
Oil demand could be ‘pushed back to pre-crisis levels’ without policy change, warns IEA
The International Energy Agency (IEA) has warned that oil demand could be pushed back to pre-crisis levels without significant policy changes.
Peak oil and the opportunity for low carbon prospects
This week, BP projected that global demand for oil may have peaked in 2019 and that we shouldn’t ever expect demand to recover to pre-COVID-19 levels. On the face of it, BP’s analysis is stark, with global demand for oil reducing in all three of its scenarios over the next thirty years.
BP says oil demand may have peaked already
BP Plc said the relentless growth of oil demand is over, becoming the first supermajor to call the end of an era many thought would last another decade or more.
BP boss Looney says he ‘would not write off’ risk of peak oil
BP’s new chief executive Bernard Looney revealed he has considered the possibility that peak oil demand could be one of the legacies of the Covid-19 outbreak.
India oil demand could lead to long-term trade with Europe , says WoodMac
A surge in oil demand in India could lead to long-term trade with Europe, according to analysts WoodMackenzie.
Peak oil? Further OPEC cuts could send prices as high as $70
Further production cuts by the Organization of Petroleum Exporting Countries (OPEC) and other major suppliers in the coming year could push the oil price as high as $70 a barrel, Cantor Fitzgerald Europe’s Sam Wahab has said.
Opinion: From peak oil to peak oil demand in just nine years
Peak demand for oil is the big new thing. True, the International Energy Agency, in the annual World Energy Outlook it released earlier this month, didn't envision a peak coming before 2040 barring a big acceleration in anti-climate-change efforts. But at least it's talking about the possibility, and forecasting a slowdown in demand growth in the meantime.
Peak Oil & Gas strengthens board with new appointment
Peak Oil & Gas has strengthened its team with the appointment of a new non-executive director. The company said Peter Armitage, an experience public company director, will join the board.
Taskforce urging action to address UK energy issues
A group of business leaders will warn the UK Government today that more urgent action is needed from it to address energy issues following the Gulf of Mexico oil spill.