Oil and Gas Reality Check 2014
The "Oil and Gas Reality Check 2014" outlines the challenges that may present to industry participants and resource owners. It also emphasizes expansion and contraction on a number of fronts:
- the waxing and waning of dominance among suppliers
- the progression from regionalization to globalization in natural gas markets and the reverse in oil markets
- the growing shares of some fuels and the declining roles of others in the global energy mix
- the swelling of capital projects to “mega” proportions despite, or perhaps because of, shrinking returns
- the opening and closing of borders in response to geopolitical concerns and shifting supply and demand conditions.
This report also elaborates that the ripple effects of the North American energy boom from major importer to soon-to-be exporter are being felt across the Middle East, Russia and China. This trend will result in new sources of supply, increase competition, reshape the global geopolitical landscape and create greater interdependencies among nations.
Key chapters of the content are also highlighted as below:
- Global energy - North American revolution
- Energy supplies – New sources, new geopolitics
- Energy mix – A change in the global order
- Energy production – Oil and gas megaprojects call for new project management strategies
- Energy nationalism – Driven by greed, fear, and pride.