62 percent of oil and gas companies are currently either unprofitable or just breaking even. That’s according to the 2022 BDO Energy CFO Outlook Survey, which noted that 2020 represented the costliest year in Chapter 11 bankruptcy filings for oil and gas, surpassing $100 billion of debt from more than 100 companies. The survey found

With global leaders in search of energy solutions that help achieve decarbonisation and enhance energy security, the global hydrogen energy transition market seems to be on track to becoming a major global energy source in its own right with the fuels use gathering momentum. Interest in low carbon hydrogen as a way to accelerate the

The crude oil market has been running hot lately and is showing no signs of cooling, based on the latest trading insight from Bloomberg. Traders seem to have largely brushed off any adverse effects the Omicron wave might have on demand for crude and with a good reason: demand on the physical market has remained

U.S. oil futures are trading above $75 but the yearly reshuffling of billions of dollars of commodity investments are about to trigger a sharp bout of selling. Every January, the world’s two biggest commodities indexes — the GSCI Index and the Bloomberg Commodities Index — reset, spurring a raft of inflows and outflows across commodity

Mounting uncertainty about the energy transition keeps oil and gas companies from spending more Strategic choices in investment in clean energy solutions, responding to the pressure to decarbonize, and portfolio repositioning will be next year’s key themes for all oil and gas companies WoodMackenzie: Companies will allocate more capital to upstream decarbonisation The global upstream

A surge in COVID-19 cases and the emergence of the Omicron variant will dent global demand for oil, the International Energy Agency (IEA) said on Tuesday, but the broader picture is one of increasing output set to top demand this month and soar next year. “The surge in new COVID-19 cases is expected to temporarily

Global natural gas prices are set for another year of volatility, following 18 months of swings from record lows to record highs. As natural gas demand started to rebound this summer amid depleted stocks in Asia and Europe following a long and cold winter, prices skyrocketed in the autumn to record highs. This forced gas-intensive

Ahead of a major reform of natural gas market rules, the European Commission today committed to promoting competitive markets to enable non-EU hydrogen to be traded internationally. The commitment is part of the commission’s new Global Gateway strategy, which offers investment of up to €300bn in the 2021-27 period for long-term international recovery. The commission

The recent oil price decline is not justified by fundamentals, Goldman Sachs says, keeping its estimate of Brent averaging $85 per barrel in Q4. The move lower in oil prices so far this month has been excessive amid overblown worries about a strategic petroleum reserve (SPR) release and a hit to demand from the COVID

The European Union will likely include natural gas in its energy transition plans as some member states that are heavily reliant on coal at the moment would need an “intermediary stage”, the head of the EU green deal team Frans Timmermans said, as quoted by Bloomberg. “We will have to also invest in natural gas