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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27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
