Standing still is not an option for oil firms
Next year will not see a return to business-as-usual. Companies should not deny the new paradigm, but embrace it
The global economy and capital markets have rebounded strongly—and much faster—than many predicted in the second half of 2020. But the optimism seems to be bypassing the oil and gas (O&G) industry. The Brent crude price benchmark, for example, remained largely rangebound around $45/bl since June 2020 and, even on the back of Covid-19 vaccine optimism, has struggled to decisively breach $50/bl as the year ends. Similarly, oil demand, which has recovered from April’s 25pc fall, is still 8pc below its pre-pandemic levels. In fact, the recovery in road and jet fuel demand growth moderated in late 2020 as Europe and the US struggled with second and third waves of Covid-19 infections respectiv
Also in this section
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
11 February 2026
Maritime leaders at LNG2026 warned of the dangers of over-regulation on competitiveness, sustainability and innovation
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
