The charge for funding
Accessing energy sector cash from traditional sources has been difficult while oil and gas companies are cutting capital spending. But projects have been taking off
Heightened oil and gas price volatility has threatened the commercial viability of large-scale upstream projects over the past few years. Many traditional developments, which operators committed to at $100 oil, are now untenable with Brent prices at half that level. But project finance in the renewables sector is thriving, driven by supportive government policies to decarbonise and generous subsidies. Wind and solar projects in particular are driving the charge. In the US alone, a number of major solar PV projects have been agreed, as traditional oil and gas companies seek to diversify operations. There has also been a rise in wind energy developments, with several large projects in western
Also in this section
20 May 2024
Not for the first time, a foreign oil company-led project in Iraq’s Kurdistan region is dealing with the aftermath of a deadly drone attack
17 May 2024
The latest drought crisis is passing, but longer-term solutions are in motion, explains Panama Canal Authority Administrator Ricaurte Vasquez Morales
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way