A new day for you, a new day for us
Dear Reader, The last thing you need right now is another dreary recitation of industry statistics that show how hard hit the global oil and gas industry has been in the past eighteen months. The fact is that amazing new technologies over the past two decades have produced a glut of both oil and natural gas. Shale technology, offshore developments in 3,000 metres of water, and new technologies applied to conventional reservoirs have created supply of more oil and gas today than the world consumes. The industry has endured massive dislocation recently, with lay-offs, a scaling back of capital investment that is unprecedented in percentage terms, and an existential scramble to lower costs. But
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
