Opinion

Does your CEO have his head in the sand?


We at Petromall have just published some Insights on “What E&P companies should do about decarbonisation” and I thought I would pull out of there three ideas that should give you pause, cause you to ask “I wonder what my company is doing, how our plans are changing?”

Firstly, there is the perspective that oil (and gas) prices might not be merely “lower for even longer” but lower in the long term, with the spikes of the 1970's and 2000's being seen as departures from the long term destiny of prices.

Secondly, it is likely that fossil fuels will remain a dominant part of our energy mix out to 2050 and beyond, especially if lower prices retard the progress of renewables,

Thirdly, there now seems to be unstoppable momentum behind the notion of decarbonisation, which behoves oil & gas companies to reduce, indeed eliminate, their operational emissions of CO2 and CH4, portends a massive increase in electric road vehicles, challenges how electricity is generated, and so on.

Now I'm not suggesting that all of you believe all of the above, though some of you probably do, and I realise that there will be some of you who believe none of the three. Or hope none of them comes to pass.

Be that as it may; my question is, firstly, what if the investors in your company believe some or all of them?

And then, what is your company doing, what plans is it making, how are these changing?

Where is your CEO's head?


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