Petroleum Economist

The UK government's increase in the windfall tax on oil and gas companies from 35% to 38% will undoubtedly inject a significant sum into the country's budget, but concerns are mounting about the potential long-term consequences for the UK’s energy security and economy, writes Francesco Mazzagatti, CEO of Viaro Energy for our annual Outlook publication. #energy #oilandgas #UK #Outlook2025 https://lnkd.in/eGF8zZFj

While many of Donald Trump's promises for sweeping change will face bureaucratic and legislative limitations once he enters office, the LNG sector is one area where the incoming president could easily make immediate and far-reaching reforms, writes Seth Haskell for our Outlook 2025 publication. #energy #gas #LNG #US #Trump #Outlook2025 https://lnkd.in/dnGiYfNp

Fragility in the global energy markets in recent years has provided ample evidence that the energy transition will be possible only with security of supply and access to affordable energy, writes the International Gas Union's Menelaos (Mel) Ydreos for our Outlook 2025 publication. #energy #gas #Outlook2025

PE’s December/January issue is out now! This issue we examine what the markets can expect from a prospective Trump trade war, take a deep dive into Saudi Arabia’s transition strategy and feature an exclusive interview with Gas Exporting Countries Forum (GECF) Secretary General Mohamed Hamel. Elsewhere, we provide our regular news and analysis on the oil and gas value chain across the globe, from developments at COP29 to the sanctioning of Gazprombank, the implications of regime change in Syria to the changing face of Argentina’s upstream. #energy #oilandgas #Trump https://lnkd.in/eeHexKNH

🚀 Digital Twins: From Operational Benefits to Strategic Transformation 🌍 Digital twins are no longer emerging—they're mainstream, delivering real value to industrial facilities worldwide. A recent survey of 660 senior executives across 11 industries revealed 19% average cost savings and revenue gains thanks to digital twins. 📈 But the future holds even more promise. The next generation of digital twins will solve critical challenges for asset-intensive industries: 🔹 Workforce Challenges: Addressing the decline in tenure and experience among operations and maintenance teams. 🔹 Distributed Workforce Enablement: Reducing site visits and offshoring processes to improve safety and efficiency. 🔹 AI for Skill Shortages: Elevating a "5-year average employee" to the competence of a "20-year veteran" with AI-driven autonomous systems. 🔹 Carbon Emission Reduction: 8 out of 10 executives report that digital twins help lower emissions through strategies like predictive analysis, material reuse, and early mitigation. 🌱 🎧 Tune in now! https://lnkd.in/g2RwJhgy Hexagon Asset Lifecycle Intelligence

India’s love affair with Russian crude continued in 2024, with Russia having been been the largest supplier to India for three years now. The affection is far from unconditional, however—it is born out of the war in Ukraine on the one side and a desire to save money by buying heavily discounted grades on the other. “India's overall crude demand, Russian crude availability and its price relative to Middle Eastern grades of similar quality are important factors for Indian refiners," said Serena Huang, oil analyst at Vortexa. #energy #oilandgas #India https://lnkd.in/ep-XEJWw

In a turn of events that some might consider unsurprising, the Australian state of Victoria's decade-long efforts to wean itself off gas have left it in a tricky situation, with consultancy EnergyQuest reporting that seasonal supply gaps will emerge in Victoria and New South Wales from 2026, with the regional market expected to see an annualised deficit from 2028. #energy #oilandgas #Australia https://lnkd.in/ecy6biTN

🌍 The Global Energy Industry at a Crossroads 🌍 Geopolitical tensions, climate priorities, and market volatility are reshaping the energy landscape. Are you ready to lead through the challenges ahead? PE Outlook 2025: The Grand Alliance An all-energies approach to meet the world’s growing energy needs, created in association with White & Case LLP. 📖 What’s Inside: ✅ Expert insights bridging climate priorities with energy realities. ✅ Geopolitical analysis on how global tensions shape energy markets. ✅ Actionable strategies to balance sustainability, security, and affordability. Empower your decisions with exclusive analysis and strategies to thrive in the evolving energy sector. Access the report today! https://lnkd.in/eNPDNGze #EnergyTransition #NetZero #Sustainability #EnergyLeadership #PEOutlook2025

Final oil demand growth figures for 2024 are not available yet, but one thing is for sure: the foremost forecasters and market participants have been deeply disappointed by the market’s performance, writes David Wech, chief economist at Vortexa for our annual #Outlook2025 publication. Outlook 2025 is available free to subscribers and can also be bought from our store here: https://lnkd.in/eNPDNGze. #energy #oilandgas #oilmarkets https://lnkd.in/e8zPxwBn

China’s so-called teapot refineries—small and simple processing facilities that are mostly privately owned—are buying more Canadian and Iranian barrels as they look towards lower-cost sources for succour from lean or even negative margins. #energy #refining #China https://lnkd.in/e7M9rqm3