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Global upstream: 5 things to look for in 2022

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02 December 2021

Global upstream: 5 things to look for in 2022

Report summary

The oil and gas sector will continue its bounceback in 2022, with another year of record cash flows. But the positive outlook is tempered by concerns about the future. The upstream industry must respond to the implications of the pledges made at COP26. Resource-rich governments must consider their role and set a course for the industry to follow. What are the themes to look out for heading into 2022? Record cash flows under increasing scrutiny; oil and gas reinvestment rates remaining critical; operators walking the walk on Scope 1 and 2 decarbonisation; cracks in a fragile service sector widening; and explorers keeping options open for the energy transition.

Table of contents

    • 1. Peak uncertainty: record cash flows under increasing scrutiny
    • 2. Oil and gas reinvestment rates critical to meeting demand
    • 3. Walking the walk on Scope 1 and 2 decarbonisation
    • 4. Cracks in an already fragile service sector could widen
    • 5. Explorers keeping options open for the energy transition
    • What to look for in 2022 – a regional upstream series

Tables and charts

This report includes 5 images and tables including:

  • Glasgow Financial Alliance for Net Zero* to finance the energy transition
  • Major upstream project sanctions 2012-2023
  • Global upstream oil and gas reinvestment rates
  • Top 10 upstream methane emitters 2022-2030
  • Seven pillars of exploration success

What's included

This report contains:

  • Document

    Global upstream: 5 things to look for in 2022

    PDF 860.54 KB