IEA: Oil demand on a rising trajectory by 2040

HOUSTON, Nov. 16
11/16/2017
By OGJ editors 
According to the International Energy Agency’s World Energy Outlook 2017, up until the mid-2020s, oil demand growth remains robust in the New Policies Scenario (NPS) but slows markedly thereafter as greater efficiency and fuel-switching bring down oil use for passenger vehicles. IEA’s NPS models current and announced energy policies, including those from the Paris Climate Agreement.

Powerful impetus from other sectors, however, is enough to keep oil demand on a rising trajectory to 105 million b/d by 2040. Oil used for petrochemical production is the largest source of growth, followed closely by rising consumption for trucks (fuel-efficiency policies cover 80% of global car sales today, but only 50% of global truck sales), for aviation, and for shipping.

“The world’s consumers are not yet ready to say goodbye to the era of oil,” IEA said.

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Startups Critical to Developing Culture of Innovation

Stephen Whitfield, Senior Staff Writer | 13 November 2017

Innovation is critical to survival in the oil and gas industry, and the president of Chevron Technology Ventures (CTV) said that developing relationships with startup companies is key to navigating a rapidly changing technological ecosystem. At a presentation held by K. Carpenter Associates (KCA) and Pannell Kerr Forster of Texas (PKF Texas), Barbara Burger outlined a plan for corporations to develop a culture of local innovation by building a startup network.

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MCEDD DEEPWATER DEVELOPMENT 2018

9–11 APRIL, 2018 | MILAN, ITALY

MILAN MARRIOTT HOTEL | MCEDD.COM

Gulf Publishing Company and Quest Offshore Resources have announced the formation of Gulf Quest LLC for the joint operation of offshore conferences, including the leading global deepwater technology event, Marine Construction Engineering Deepwater Development (MCEDD).  MCEDD, in its 15th year in 2018, will benefit from the combined resources of Quest Offshore Resources and Gulf Publishing Company’s World Oil, according to Quest’s CEO, John Chadderdon. “With World Oil and the resources offered by Gulf, MCEDD will grow in the level of importance to the global deepwater industry,” said hadderdon.  “The challenges facing operators and suppliers alike will be addressed in our 2018 event in Milan, and World Oil will be an excellent addition for developing content and marketing of the event.”  John Royall, President & CEO of Gulf stated, “The global industry needs one place to meet and discuss challenges and solutions for operators in deepwater, especially in the current industry climate. With its superior technical content and history of support from the major operators, MCEDD offers that meeting place.” MCEDD is recognized as the leading conference addressing technical issues related to ngineering, development, and production of oil and gas in deep and ultra deepwater arenas around the world. The conference has been sponsored in recent years by Shell, Total, Repsol, BP, and other major operators. Attendance is made up of deepwater operators and suppliers from all over the world.

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