Funding sources for new oil and gas projects are increasingly constrained
Outlook 2022: Mind the financing gap
Sources of capital for supply to meet future oil and gas demand are evolving
The headline-grabbing conclusion of the IEA’s 2021 World Energy Outlook was that “no new oil and gas fields are required” in their Net Zero Emissions scenario. This scenario sees global oil demand decreasing by over 40pc, to c.60mn bl/d, as soon as 2030. Even if the IEA was only drawing an axiomatic conclusion from its modelling, it was spun to the media as an IEA ‘call’ for no new oil and gas projects. This headline has certainly been latched onto by climate activists campaigning for no new project approvals. However, a less publicised—but equally important—conclusion from the same IEA report was that the only aspect of the net-zero pathway on which the world is currently on track is in the
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
