NOCs are central for the economies of oil-producing nations
NOCs must straddle two worlds
Oil producers have to untangle the increasingly complicated relationship with their natural resources
Oil executives at Houston’s CERAWeek conference in March were patting themselves on the backs for excellent financial results and their mutual agreement that producing more fossil fuels is what the world needs. “We should abandon the fantasy of phasing out oil and gas, and instead invest in them adequately,” said the CEO of Saudi NOC Aramco, Amin Nasser. Around the same time, UN agency the World Meteorological Organization issued a report stating that: “Climate change indicators reached record levels in 2023.” In fact, these levels were far higher than what models predicted, making Gavin Schmidt, a climatologist and director of NASA’s Goddard Institute for Space Studies, admit that: “Climate
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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
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The new government has brought stability and security to the country, with the door now open to international investment
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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
