Global Upstream Update: our favourite slides and topics – September 2022

It’s a case of yin and yang in global upstream, with the sector’s positives balanced by disruptions and uncertainties. How will the increasingly visible tensions between supply chain, operators and governments evolve as global geopolitical tensions rise? We review some of the most pertinent global upstream issues, including: a) Everything is on the up in deepwater: including production, resource estimates but also costs, b) Oil production disruptions: outages are having secondary impacts and a Russian price cap is a wildcard, c) Sweet and sour gas: rock bottom prices in Canada but is there a revival in the US and Australia? d) Decarbonisation: big upstream producers getting serious about CCS and offshore wind and e) Fiscal disruption: windfall taxes gathering momentum, but where are there nuances?