GlobalData: COVID-19 and sustainability to impact oil and gas in 2021

GlobalData’s report, ‘Prime 20 Oil and Gasoline Themes, 2021 – Thematic Analysis’, additionally identifies the opposite key themes that may form the trade in 2021, similar to renewable power, hydrogen, electrical autos (EV), power storage, liquefied pure gasoline (LNG) and gasoline flaring.

Ravindra Puranik, Oil and Gasoline Analyst at GlobalData, feedback: “Tech themes similar to robotics, industrial web, synthetic intelligence (AI), huge information, cloud computing and cybersecurity will likely be of paramount significance because the trade seems to be to turn into extra environment friendly. Oil and gasoline firms are more likely to take a various strategy regarding totally different tech themes, relying upon their speedy necessities. Cloud computing and cybersecurity themes will come to the fore with the post-pandemic new regular of distant working.”

Puranik continues: “The COVID-19 pandemic introduced a significant oil and gasoline demand shock, delayed tasks and raised further questions in regards to the potential for future oil demand development. Towards this backdrop, the perceived shift in the direction of new energies will have an effect on new crude oil developments, particularly ones requiring longer turnaround time.

“Themes similar to shale or built-in refineries, which had been flourishing till 2019, got here underneath excessive strain in 2020 as a result of pandemic. Outstanding shale drillers similar to Chesapeake Power and Whiting Petroleum went by way of chapter proceedings, whereas ace refiners similar to Shell and Marathon Petroleum introduced the everlasting closure of a few of their refineries to mitigate the downturn.

“Oil majors similar to Whole, Shell, BP and Equinor will likely be on the forefront in implementing sustainability initiatives at their workplaces. Apart from setting net-zero emission targets, these firms have initiated concrete steps to put money into low-carbon tasks, together with renewables, hydrogen, and carbon seize and storage to indicate their dedication in the direction of the atmosphere.”

Learn the newest difficulty of World Pipelines journal for pipeline information, challenge tales, trade perception and technical articles.

World Pipelines’ March 2021 issue

The March 2021 difficulty of World Pipelines consists of: a regional report on pipeline tasks in Asia-Pacific; a abstract of the newest and greatest building gear courtesy of the annual Heavy Tools Evaluate; a welding-focused Q&A; and technical articles on scorching tapping, sustainable metal and decommissioning.

Learn the article on-line at: https://www.worldpipelines.com/business-news/11032021/globaldata-covid-19-and-sustainability-to-impact-oil-and-gas-in-2021/