Oil & Gas

Many oil and gas companies have recognized the need to decarbonize the energy system to avoid the impacts of climate change. Initial industry efforts to play a role in the energy transition show sincerity and promise. Yet the urgent need for more oil and gas production for the foreseeable future suggests that a comprehensive framework for the oil and gas industry to support a low-carbon future while simultaneously ensuring the world has enough energy to meet development and economic growth goals has yet to be fully developed. What role can the oil and gas industry play lead the way to an energy-rich, globally prosperous, low-carbon future?

Throughout 2019, financial markets have watched the planned Saudi Aramco initial public offering (IPO), which was finally launched in December. A quieter, but no less significant, story was Saudi Aramco’s acquisition of SABIC. Saudi Aramco strove to have a successful IPO, especially through increased transparency and diversification, and the SABIC acquisition was a key element of Saudi Aramco’s diversification strategy. Going forward, what does the merger mean for both companies, what is the new relationship between Aramco and SABIC, and what are the merger’s implications for the intricate relationship between the various bureaucracies and leadership in Saudi Arabia?

Downstream oil theft has become a global problem. Since most of the world’s energy systems still rely on oil, fuel smugglers are nearly always able to find markets for their goods. Moreover, as oil is not inherently illegal, it is generally an easy product to move, buy, and sell. Profits from oil theft are frequently used to fund terrorism and other illegal activities.