Oil and Gas Industry Trends 2019
Part of the continued success of Marcel
Kooter in the oil and gas industry is his ability to anticipate
and manage trends in this global sector. The Intelligence Centre of GlobalData
forecasted likely trends and predictions over the coming year.
The methodology
used by GlobalData draws together extensive historical evidence plus
analysis of geopolitical scenarios. However, forecasts do not remain static and
are constantly revised in line with new reporting. Unexpected events and world
changes will always impact on predictive ability.
Top
Oil Producers in 2019
Unsurprisingly, the current top five big-league producers
will continue to dominate the picture in 2019, with the US leading the way. The superiority of a
producer is hugely impacted by its ability to supply, which can be directly affected
by the imposition of sanctions. Recent restrictions imposed by the US on Iran
and Venezuela, two of the top global exporters, have considerably restricted
their export capacity. An alteration in
supply almost always impacts severely on pricing.
Energy
Transition
’Energy transition’ relates to the implementation over the
longer term of a national policy to reduce reliance on fossil fuels.
Technically, it relates to the change of emphasis from one fossil fuel to
another. More commonly it is used to describe a national move away from the use
of fossil fuels to perceived cleaner, more environmentally friendly options. One
of the questions is if a transition from coal to gas (for example) should be
seen as part of this transition. Energy transition is not a quick, short-term
shift but a slower structural change.
Natural
Gas
The environmental agenda has focused attention on natural
gas and hydrocarbon gas mixtures as a greener and cleaner alternative to fossil
fuels. This interest is based not just on usage but extraction techniques,
which are more environmentally friendly.
Fracking
Fracking is a moniker for hydraulic fracturing. A specialist
fluid is inserted at high pressure into rock causing it to fracture, releasing the
gas and petroleum stored within. Popular in the US as an extraction method,
fracking has encountered increasing opposition in the UK and elsewhere in
Europe. Accusations that it causes seismic activity and has not been
sufficiently researched have been supported by official challenges through the
courts. There are also concerns about the environmental impact of fracking
particularly air and water pollution.
Energy
Policies
National strategy propounded by government and national and
international agencies impact on the energy landscape.