Stage set for new drilling moves and oil & gas projects
Offshore Energy Today
Offshore Energy - Fossil Energy: Home of Energy Transition ?? Connecting energy security with sustainable solutions ??
Several oil, gas, and LNG projects are anticipated to come online this year and some of these have already provided progress updates, which show them to be on track to achieve first production milestones as planned. Multiple drilling campaigns are also expected to start in 2025 or are ongoing. However, certain moves in the regulatory, energy policy and geopolitical spheres already hint at turbulent times that may lie ahead but some also offer hope that better things are coming.
The U.S. election results started to reverberate around the world, heralding a rising tide of a mixed bag of various sorts of shifts even before Donald John Trump officially returned to the White House to begin his four-year tenure as the next U.S. President, replacing President Joseph (Joe) Robinette Biden Jr. at the helm of 'the Land of the Free and the Home of the Brave.' As the handover date approached, Wall Street made some changes to its policy in line with the President-elect's energy plans, taking a U-turn on climate action with six major U.S. banks, led by Citigroup, 美国银行 , 富国银行 , 高盛 , 摩根士丹利 , and 摩根大通 bringing up the rear as the last one to decide to back out of the UN’s Net Zero Banking Alliance (NZBA) by 2050 to ensure they would be able to profit from the Trump administration's fossil energy expansion plans without hindrance.
While three U.S. banks - Climate First Bank, Amalgamated Bank, and Areti Bank - opted to retain their NZBA membership, these are perceived to be smaller players compared to the six that closed their Net Zero Banking Alliance chapter, at least for the time being. BlackRock also recently joined financial firms in the exodus from the climate initiative, as the wind will blow in a different direction during the Republican leader's upcoming term in the White House.
With a record 9.1 million futures and options traded, America's Intercontinental Exchange (ICE) reported the highest commodities volume day in its history on January 10, setting a new record of 8.7 million energy futures and options, and a milestone covering 6.1 million oil futures and options, thanks to trading records across several of its oil benchmarks, such as 999,000 Gasoil futures and options, 905,700 ICE WTI (Cushing) futures and options, 214,200 ICE Dubai (Platts) futures and 104,400 ICE Murban futures. ICE’s global oil complex covers over 800 futures and options contracts underpinned by the global benchmarks Brent and Gasoil.
Trabue Bland, SVP of Futures Markets at ICE, commented: “The network of markets which ICE has carefully built for its customers over the last two decades has created a truly global commodity platform so that customers can manage their risk exposure at precisely the areas they need, benefitting from the liquidity we offer, to enable transparent price discovery and execution."
Unlike the majority of their U.S. counterparts, some European banks seem intent on bolstering climate action and curbing their investment in fossil fuels, as illustrated not only by France's Crédit Agricole and BNP Paribas, which pledged to stop facilitating bond issuances for oil and gas companies, but also Société Générale due to its plan to curb 80% of its credit exposure to oil and gas producers by 2030, and the Netherlands' ING, which committed to end funding for LNG projects. Other European banks - such as Deutsche Bank, BPCE, UBS, and HSBC - have been more lenient to date by setting a financed emissions target without committing to curtail financing to the players seeking to bankroll the development of further black gold and gas energy projects.
Big Oil is anticipating a huge comeback to the U.S. energy priority list during the 47th U.S. President's tenure, as Trump has vowed to unleash the 'liquid gold' that runs under American soil and waters, exist from climate action treaties, repeal President Biden's Inflation Reduction Act (IRA), and put an end to offshore wind developments. However, as clean energy advocates have been quick to point out, the new U.S. administration could benefit from keeping the last two items active, as they have the potential to provide America and its people with huge streams of revenue alongside further oil, gas, and LNG development.
While the sun will not always shine and the wind will not always blow, the intermittency issues that are often used to stop or slow down the development of renewable sources are perceived as a weak argument in the face of technological advancement and battery storage improvements that continue to be made, especially when they come from the fossil fuels industry, according to energy experts.
While acknowledging the need to continue to work on coming to grips with the challenges of navigating the intermittency woes, they point out that these should be seen as tasks to be solved and not as permanent roadblocks to booming solar and wind economy be it onshore, offshore, or both. For energy connoisseurs, intermittency issues are similar to external events, such as natural disasters and stormy weather, which will stop offshore oil and gas extraction until the storm passes before they return to business as usual. Even though all offshore and onshore wells will at some point run out of hydrocarbon juice and become depleted, they emphasize that this fact has not stopped fossil fuel extraction, so they see no reason why intermittency should stand in the way of further renewable energy growth.
As someone who prides himself on having great business acumen, Trump will likely see the benefit in keeping those windmills spinning, enabling the cogs in the clean energy machinery to continue turning and bolstering America's economic growth and prosperity. After all, the global odds are heavily stacked in favor of an 'all-of-the-above' energy policy, which seems like a sure bet when the world is divided on the energy dilemma conundrum, with some countries focusing on boosting energy security while others prioritize sustainability, and the rest strive for a balancing act to find the middle ground between the two so-called extremes.
The new U.S. 'energy czar,' Doug Burgum, may have the impression that reliance on renewables will derail U.S. national security and enable China to score, however, as the Asian country is upping the ante on both renewables and fossil fuels, the argument for the reason why the U.S. should give up on one of these energy sources and how such a move would benefit the U.S. is not clear. As logic dictates boosting both sources of supply would work in America's favor, enabling it to control more of the global energy market, pursuing the all-of-the-above energy policy appears to be the best way forward to ensure the energy dominance Trump claims to be after.
Chris Wright, Trump's pick for the role of the next U.S. Energy Secretary, seemingly appreciates the advantages that come with "energy abundance," thus, he is interested in "growing the supply of affordable, reliable, secure American energy,” which not only encompasses oil & gas, coal, nuclear, and hydropower as the most dominant sources of energy supply, but also expands to entail wind and solar as two fastest growing additions to the U.S. energy arsenal, and geothermal, which is viewed as a promising play to expand further America's energy horizons.
Among the most memorable lines that Wright uttered during his confirmation hearing before the Senate Energy and Natural Resources Committee earlier this week was: “Energy and climate is a global problem, but America should be the leader. And I think President Trump is firmly aligned with that position as well.”
While Trump himself has pointed out on numerous occasions that 'drill, baby, drill' is at the heart of his energy policy in which oil and gas reign supreme, the most significant indicator that the U.S. President-elect sees the benefits of implementing an 'all-of-the-above' energy policy came from Wright when he clearly stated that he would promote all sources of American energy, by "improving all energy technologies that can better human lives and reduce emissions. They go together."
He pinpoints 'three immediate tasks' on which he intends to focus in the following order:
“President Trump shares my passion for energy and if confirmed, I will work tirelessly to implement his bold agenda as an unabashed steward for all sources of affordable, reliable and secure American energy,” emphasized Wright.
It is no secret that climate campaigners and environmental activists are not happy with Trump's stance on fossil fuels and his determination to expand the production of these sources. Therefore, multiple members of Sunrise Movement decided to cause a disruption at Wright's hearing to ensure their concerns would be heard. While many of them ended up being arrested, Wright did not ignore their presence and opted to acknowledge the concerns being raised in a truly diplomatic fashion, advocating for a balanced approach.
"You have to understand that there isn't dirty energy and clean energy. All energies are different, and they all have different trade-offs. Different people have different weights or valuations of trade-offs. Different geographies or locations have climates more favorable to this energy versus that energy," Wright diplomatically explained, adding:
"So it's a complicated dialog, which means it's not easy to get people to share this broader perspective on it. I think we're seeing a little bit of that in passionate, well-meaning, wonderful people that have been sitting in the hearing room today."
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One of the countries that made the headlines last week was Canada, after the U.S. President-elect, Donald Trump, presented his arguments for the U.S. annexation of Canada, following the resignation of the country's Prime Minister, Justin Trudeau. This spurred an uptick in oil and gas stocks, which was used, alongside Trump's expansionist pretensions, by some, like Sierra Club Canada, to place the responsibility for the challenges Canada faces squarely on oil and gas industry's shoulders.
Responding to Trump's annexation call, Sierra Club Canada highlighted that the oil and gas dependency for energy, transport, and employment exposes Canada to "the whims of hostile leaders like Trump," presenting a rapid shift to a community-led renewable economy as the pathway and roadmap to secure the country's independence.
The U.S. President-elect’s energy policy is expected to bring sunnier days to the oil and gas industry. However, it also has the potential to push some countries and economies into fast-tracking their pivot to renewables. This seems to be the case in certain parts of Canada, given the growing calls to phase out fossil fuels, with poll results indicating that 54% of Canadians prefer prioritizing renewable energy sources over fossil fuel production.
Shifting the focus to Europe shows the era in which Russia dominated European gas markets is over, according to new research, titled 'The global implications of a Russian gas pivot to Asia,' from Warwick Business School, conducted with the UK Energy Research Centre. This research points out that the disruption of Russian gas supplies to Europe acted as a catalyst to transform the global energy landscape. Led by Professor Michael Bradshaw of Warwick Business School and Professor Steve Pye at UCL, the paper published in Nature Communications, dives into the far-reaching consequences of Russia’s loss of its largest market, spotlighting the trilogy of geopolitical, economic, and strategic ramifications of such a "historic shift."
Professor Bradshaw commented: “Our research shows that Europe’s energy strategy is at a critical juncture. Whilst the diversification from Russian gas has been a success story in terms of security, it has also introduced new complexities. Europe’s energy security is now tied to developments in Asia via the global gas market. Policymakers must address these to ensure a transition that is both sustainable and equitable.”
The research findings indicate that Russia will likely be unable to replace the revenue it lost from exports to Europe while its pivot to Asian markets is in the hands of China and not the Kremlin. Regardless of the outcome, this research points out that the best policy for Europe is the reduction of its reliance on natural gas imports.
The research emphasizes the need to accelerate investment in renewable energy infrastructure and storage solutions to curb reliance on fossil fuels; enhanced collaboration between EU member states to share risks and optimize energy distribution; and policies that address the social dimensions of the energy transition, ensuring that vulnerable populations are not disproportionately affected.
Once the COVID-19 pandemic started to ebb away, European gas prices began to rise sharply in late 2021 as Gazprom, Russia’s state-owned gas giant, limited supply to the European spot market. Things took a turn for the worse after the Ukraine crisis took the world by storm in 2022, with pipeline gas supplies to Europe plummeting to 20% of pre-war levels.
Some of the events that sparked Europe's decision to cut off its oil and gas ties with Russia include Gazprom's suspension of contracts with buyers who refused payment in roubles, key pipelines, including Nord Stream 1 and 2, being rendered inoperable due to sanctions and sabotage, and the failure to renew a transit agreement, which resulted in the cessation of Russian gas exports to Europe via Ukraine.
The research pinpoints three critical areas to bear in mind, such as geopolitical realignments, as the EU’s decision to phase out Russian gas by 2027 has the potential to fundamentally reshape global energy markets, while Europe’s increasing reliance on LNG and alternative suppliers such as the United States, Qatar, and Norway has redefined trade flows and heightened competition for resources.
The next area is energy security with Europe mitigating immediate supply risks by rapidly diversifying its sources, but the dependence on LNG, based on the research, exposed the region to increased market volatility, thus, resilient infrastructure is needed to manage fluctuating supply and demand dynamics.
The last area on the list has been reserved for sustainability goals, as the transition to renewable energy is accelerating, even though significant challenges remain, with a persistent gap between short-term energy security priorities and the long-term ambition of achieving net-zero emissions by 2050.
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? With a drilling permit in hand, V?r Energi has been cleared to spud an exploration well in the North Sea, with COSL Drilling Europe AS ’s semi-submersible rigs.
? Serica Energy plc has made headway in restoring oil and gas production from fields in the North Sea, which are connected to Dana Petroleum Limited 's FPSO on the UK Continental Shelf (UKCS). In addition, the company is moving to drill another well with a rig from COSL Drilling Europe AS , which the Norwegian firm booked for a multi-well drilling and work-over assignment.
? Two drilling permits will enable Odfjell Drilling rig pair to embark on two exploration wells, one in the Norwegian Sea and the other in the North Sea.
? KCA Deutag's new drilling gigs and extensions across the Middle East, Africa, Latin America, and the UK.
? 斯伦贝谢 has been selected by 壳牌 to handle deepwater drilling assignments, spanning several regions, including the UK sector of the North Sea, Trinidad and Tobago, and the Gulf of Mexico alongside others.
? A new offshore drilling milestone has been achieved by bp in Egypt as the firm has wrapped up drilling activities at two wells, targeting to bring them on stream next month. To this end, subsea ommissioning operations are ongoing in the Mediterranean Sea. The UK-based giant hired Subsea Integration Alliance, the partnership between Subsea7 and OneSubsea , in May 2023 for a two-well tie-back project in the large West Nile Delta development offshore Egypt. A Valaris Limited -owned drillship is making its way to the next well on its offshore drilling agenda in the East Mediterranean (East Med) region with the European oil major.
? 雪佛龙 has drilled an exploration well in the OrangeBasin offshore Namibia, which did not yield the anticipated commercial hydrocarbon quantities but did help the firm to glean new insights.
? Borr Drilling has got a temporary suspension of operations for a jack-up rig trio working off the coast of Mexico in North America.
? H&P has brought KCA Deutag into its fold to bolster its rig count and the combined company’s standing in America and the Middle East, which are seen as the two most prominent oil and gas-producing regions in the world.
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? Challenger Energy Group Plc (LON: CEG) is progressing with activities to enable the launch of a formal farm-out process later this year for a shallow water exploration block offshore Uruguay while also considering its options about assets in Trinidad and the Bahamas.
? LLOG Exploration Co 's FPU refurbishment is coming to an end, which enables the firm to step closer to the start of oil production from a deepwater project in the U.S. Gulf of Mexico.
? Petrobras is facing an arbitration battle with Seacrest Petroleo over alleged subsea pipeline repair failures.
? T7 Global Berhad 's Tanjung Offshore Berhad secured a new contract with Carigali Hess Operating Company Sdn Bhd, a JV between PETRONAS’ affiliate PC JDA and Hess Oil Company of Thailand.
? 埃克森美孚 's ExxonMobil Guyana and its partners in the Stabroek block have committed close to $55 billion to the development of six government-sanctioned projects. The company is expected to undertake further oil and gas deepwater development operations in 2025 to unlock oil and gas resources offshore Guyana.
? Yinson 's Yinson Production has reached another milestone in Brazil, with the start-up of its third FPSO in the South American country. The unit will sport a carbon management process plant to curb emissions from the FPSO operations.
? Subsea7 has been tasked with a study that will put the finishing touches on the technical definition of the proposed subsea development at Equinor 's field off the coast of Norway ahead of the final investment decision (FID).
? UAE’s NMDC Energy has raked in $1.14 billion, thanks to an EPC assignment in Taiwan.
? GATE Energy | Engineering, Commissioning & Specialty Field Services has been selected to handle the commissioning management and execution deal for Shell's semi-submersible floating production unit, which will be deployed at a deepwater development in the U.S. Gulf of Mexico.
? Shell and Chevron have increased their oil and gas production levels in the U.S. Gulf of Mexico by kicking off production from a deepwater project more than seven years after these hydrocarbon resources were discovered.
? Shell will write down $400 million due to technical and geological issues at Africa's PEL 39, which led the firm to state that its oil discovery in the Orange Basin offshore Namibia currently cannot be confirmed for commercial development.
? A pipeline malfunction has forced bp to temporarily stop production from a platform in the Caspian Sea at one of the world’s largest gas condensate fields and the company’s largest gas discovery ever. The subsea pipeline issue is said to be connected to Azerbaijan’s decision to halt natural gas supplies to Serbia. Gas supply to Bulgaria was also recently interrupted.
? The Russia-Ukraine crisis has been ongoing for almost three years. While 'the carrots' being dangled and 'the sticks' in the form of sanctions have not yet ended the war, analysts argue that sanctions are effective in the long run, but take time to be felt, especially when implemented against larger nations such as Russia. They also point out that the Russian economy is feeling the bite of Western nations' sanctions. The most recent set of sanctions comes from the United States and the United Kingdom, placing the target on the Russian energy sector with a focus on two giant oil producers alongside means of enabling crude oil production and exports.
Aside from imposing a sweeping set of new sanctions against Gazprom Neft and Surgutneftegas, the U.S. sanctions entail more than 180 vessels carrying oil, gas, and LNG that are perceived to be members of the shadow fleet, also known as the dark fleet or ghost fleet, dozens of oil traders, oil field service providers, insurance companies with Russian ties, and energy officials.
? KBR, Inc. has got its hands on a multi-year global agreement with bp , enabling it to handle work across the oil major's onshore, offshore, greenfield, and brownfield conventional energy projects alongside its new energy sector endeavors worldwide.
? TotalEnergies has revised its plateau production timeline as ramp-up activities continue to ensure all fields will be up and running at full capacity at its biggest natural gas redevelopment project in the North Sea and Denmark's largest gas field.
? Murphy Oil Corporation has struck black gold in an exploration well drilled in the Cuu Long Basin offshore Vietnam.
? A new investment shot to be poured into Yinson Production is coming from a consortium of international investment firms to pave the way for the Malaysian giant’s growth journey, with a smaller slice of the $1 billion equity financing pie earmarked for the controlling shareholder.
? Eco Atlantic Oil & Gas has enabled Africa Oil Corp. to boost its stake in a block offshore South Africa.
? The previous week witnessed another project milestone from the oil and gas arena, thanks to Saipem 's progress in bringing a jacket for an Angolan offshore platform to life for a natural gas project in Africa. This project is perceived to be Angola’s first non-associated gas development, which is operated by Azule Energy a joint venture between bp and エニ , with 雪佛龙 , TotalEnergies , and Sonangol as the Angolan producer's partners in the gas project.
? Trident Energy is set on increasing its output by 30,000 bopd thanks to deals with TotalEnergies and Chevron, enabling it to expand its footprint off the coast of Congo.
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? The 2025 offshore oil and gas-related EPC contract award value will experience a marginal boost, totaling $54 billion compared to $52 billion in 2024, underpinned by 53 greenfield and brownfield field FIDs, according to Westwood Global Energy Group 's research, which indicates that contracting activities will be driven by the demand for over 290 subsea tree units, 18 floating production units (including four FLNG units), over 90 fixed platforms, approximately 3,650 kilometers of SURF and approximately 2,660 km of line pipes.
? Norway’s Ministry of Petroleum and Energy has presented 53 production licenses to 20 oil and gas companies for further hydrocarbon exploration activity on the Norwegian Continental Shelf, which is lower than the numerous in the previous licensing round when 24 players got 62 production licenses. The biggest slice of the licensing award cake has gone to the North Sea with 33 licenses within its offshore acreage, followed by 19 in the Norwegian Sea, and the Barents Sea bringing up the rear with just one license.
? Trillion Energy International Inc. is setting the wheels in motion to increase gas production at its field offshore Türkiye with nitrogen after wrapping up velocity string operations.
? Talos Energy has made a new oil and gas discovery in the U.S. Gulf of Mexico, thanks to its ongoing drilling activities with Seadrill 's drillship.
? While V?r Energi has confirmed a new gas find in the Barents Sea with one of COSL Drilling Europe AS ’ rigs offshore Norway, this discovery is not considered profitable at this point.
? PETRONAS' development plan that will bring its project offshore Indonesia into production mode entails drilling oil production wells, supported by an unmanned integrated wellhead and central processing platform. This project will also sport a floating storage and offloading unit with living quarters and a central control room.
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? First Gen Corporation 's FGEN LNG has got the green light to operate and maintain (POM) its interim offshore LNG terminal in Batangas City, Philippines.
? In the aftermath of commissioning delays of Vietnam’s LNG projects under development, the country’s Prime Minister urged for a ramp-up in actions to bring these projects online.
? Oman LNG L.L.C. 's first LNG shipment to Shell is seen as the start of a new chapter in 2025, reinforcing Oman’s position in global markets.
? ExxonMobil has picked Chart Industries, Inc. Inc. to provide certain parts to its LNG portfolio.
? Perenco has picked Aragon as its LNG liquefaction technology partner for an FLNG project, which is said to represent "a major leap forward for the global FLNG industry."
? TMC Compressors has landed marine compressed air systems orders with Samsung Heavy Industries for a set of liquefied natural gas carriers under construction.
? ADNOC Group 's ADNOC Gas has handed out three assignments, which enabled Petrofac and China Petroleum Pipeline Engineering Corporation (CPPE-AD) to secure the deal for the construction of infrastructure at its future LNG complex in Abu Dhabi.
? Alaska Gasline Development Corporation has inked a framework agreement with Glenfarne Group, LLC, which enables the latter to fund the development of a liquefied natural gas project in the U.S. northernmost state.
? A joint venture between Technip Energies , JGC , and NMDC Energy , has opted to put CB&I in charge of the engineering, procurement, and construction of tanks and associated equipment for ADNOC’s LNG project in Abu Dhabi, UAE.
? India’s Hindustan Petroleum Corporation Limited , a unit of the state-owned Oil and Natural Gas Corporation Limited (ONGC) , has welcomed the inaugural commissioning LNG cargo at its terminal at Chhara Port in India’s Gujarat state.
? GTT (Gaztransport & Technigaz) is taking on a task to design tanks for six new LNG carriers thanks to a contract with China's Hudong-Zhonghua, a subsidiary of China State Shipbuilding Corporation .
? The name of an LNG carrier, which is part of QatarEnergy 's massive LNG fleet expansion, has been inspired by what Mitsui O.S.K. Lines, Ltd. describes as a picturesque region in Qatar.
? Canada’s proposed LNG project at the northwest coast of British Columbia is progressing with new equity funding in the bag to fully support remaining development activities through to a final investment decision, which is targeted to come later this year for the planned floating LNG facility and marine terminal, which also entails a pipeline project.
? Mitsui O.S.K. Lines, Ltd. has held a naming ceremony for an LNG carrier, which is chartered by TotalEnergies . The Japanese player also inked a long-term charter contract for another LNG ship with JERA Co., Inc.
? NextDecade has secured financing which will help it breathe life into trains 4 and 5 at its LNG export terminal under construction at the Port of Brownsville, Texas.
? Botala Energy Ltd and NOVO Energy (Pty) Ltd have joined hands to enrich Africa's gas arsenal.
? Gulf Energy Development Public Company Limited has confirmed its first LNG cargo for electricity generation at its power plants.
? With financing in place, Kimmeridge Texas Gas is anticipating the FID for its LNG export terminal near Cameron, Louisiana, in Q3 2025, with production start-up expected by the end of 2028.
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? SBM Offshore has expanded its decarbonization toolbox by getting an interest in the Norway-based Ocean-Power AS, which spotlights 'Blue Power Hub’ as the solution to curb emissions from the power sector by generating electricity with gas turbines and carbon capture and storage. This hub is envisioned to provide offshore assets and national grids with power, propelling electrification forward on the Norwegian Continental Shelf (NCS) and the United Kingdom Continental Shelf (UKCS).
? The UK’s regulator, North Sea Transition Authority, has slapped a ￡125,000 (around $153,824) penalty on a European affiliate of China National Offshore Oil Corp. for two breaches of its venting consent at a giant field in the North Sea. This is part of the NSTA's quest to curb greenhouse gas emissions and stop excessive flaring and venting activities.
? Will President Joe Biden's climate action trump card tie the incoming Donald Trump administration’s hands when it comes to drilling due to the imposed offshore drilling ban over a big portion of America’s waters? The U.S. President-elect does not seem to think so as he has vowed to undo the offshore drilling ban, spurring outcries from climate activists, who plan on taking the new Trump administration to court if it tries to reverse these ocean protections. Energy experts argue that the global energy market's picture shows an all-of-the-above energy strategy is a must to keep the lights on, which emphasizes that oil, gas, and LNG still have a place in the energy mix alongside renewables and other clean and low-emission sources, such as wind, solar, hydrogen, and ocean energy.
? A final investment decision is expected later this year for the proposed storage hub, which is expected to be the UK’s largest natural gas and hydrogen energy storage project, designed as a fully decarbonized and electrified zero-emission facility set to be powered by the renewable energy, thanks to its proximity to offshore wind farms in the UK Irish Sea region. EnergyPathways plc has now hired PDI to deliver an engineering study related to the project.
? Equinor 's oil and gas electrification journey on the Norwegian Continental Shelf is being progressed, thanks to an early stage engineering services assignment, which Multiconsult will handle in collaboration with Aker Solutions and fully owned subsidiary LINK Arkitektur .
? The energy transition journey keeps spurring new ideas and innovations to find the best road that will usher in a more sustainable future, as illustrated by the Netherlands, which is shifting its focus from energy islands to offshore energy hubs and interconnectors. Given the challenges and security concerns stemming from a recent wave of subsea infrastructure incidents in European waters, diversification is being pursued with vigor as a way to strengthen energy security. While offshore wind and solar seem to make a great fit, this article also dives into the way hydrogen can carve a niche for itself and complement the duo in this integrated energy story.
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Editor's thoughts on geopolitical challenges:
One of the conflicts that has plagued the world over the past 15th months seems to be coming to an end as Israel's cabinet has given its blessing for a ceasefire deal for Gaza, signaling the end of fighting. This conflict has affected the energy markets in different ways, the most notable issues came with the Red Sea attacks that affected maritime trade as well, prompting rerouting and now and then pushing the crude oil and gas prices up given the uncertainty and risks certain events presented for the global markets, including energy trade. With daily reports and horrifying footage highlighting the carnage, atrocities, and human suffering armed conflicts and wars bring, the Israel-Gaza/Palestine crisis has made it abundantly clear that the world needs peace and tolerance, and not wars.
Among the U.S. President-elect's many tasks, duties, and responsibilities will be to do his utmost to uphold this peace and end ongoing conflicts, including the Ukraine crisis, by reaching a fair compromise between affected parties, where usually no clear-cut winners or losers emerge but people do get a chance to heal and live in peace, tolerance, and harmony with each other, which is not easy to accomplish but is necessary to ensure peace across the world and stop any further conflicts from springing up not only in Ukraine but also across the globe during Trump's presidency.
Aside from making certain both sides in the Israel-Gaza conflict will uphold peace and ensure the rights and safety of all people per international law, regardless of whether they pray to Yahweh, God, Allah, something/someone else, or no one, Trump also has the Ukraine crisis to contend with and broker peace between Russia and Ukraine without setting an unfair precedent that would spark further conflicts around the globe. While some may suggest Antarctica as the safest place during a potential nuclear conflict given its remote location, the wiser option would be to stop such a conflict from igniting by handling any issues that come up promptly and upholding international law.
Power-hungry politicians would see a change in internationally accepted borders as a green light to embark on disastrous and deadly self-righteous crusades to expand their borders the way they see fit due to their delusions of grandeur and presumed superiority over others, leaving bloodshed and mayhem behind and the promise of a peaceful and better future for all in ruins yet again. While such irresponsible and dangerous behavior has historically come mostly from zealots who tended to promote ideologies that rhymed much more with some of those identifying as belonging to the far-right and right-leaning political spectrum, since those who identify with the left-wing ideologies usually tend to be to a degree more understanding of differences that the global human population is made up of, there are always exceptions to any so-called general rule and no party has a monopoly over anything as the lines at least between the current right and left political orientation tend to blur on occasion. However, nipping in the bud plans that may arise across the world concerning further border changes of established internationally accepted, recognized, and drawn lines is essential to enabling and achieving world peace and prosperity, as the alternative would likely ignite a global conflict with nuclear connotations, based on global safety experts' warnings.
The strength, progress, and power of humankind live in diversity and acceptance of others as our equals, who could help boost the growth, prosperity, and beauty of the world around us if we dare and have the courage to embrace mutual respect and understanding that would help us not only heal but also create an atmosphere where human rights and freedoms, including religious predilections, would be valued as the cornerstone of the world order that would truly be mired in celebrating our differences as our strengths and helping each other to become first and foremost better human beings and then more successful than we ever thought possible.
After all, the story of America and what makes the 'American Dream' so attractive is a great example of how people, who are different in many ways, can come together to forge a nation that rivals the strongest of empires. This remains America's greatest attraction, strength, and power to this day despite the internal divisions and obstacles it faces. The key ingredient for success in such an endeavor is unity in diversity of at least the vast majority, if not all that live there, alongside the celebration of the differences that make up people of different backgrounds, nationalities, religions, races, and gender. The creation and survival of the U.S. is a living example of how different people can accomplish a great deal if they work together toward the same goal rather than undermining each other.
As the President-elect gets ready for his first day in office as the 47th U.S. President, Trump has a huge responsibility to ensure peace reigns supreme and continue suppressing all forms of oppression while promoting human rights and freedoms not just in the U.S. but also around the world if America is to retain its world power status and remain the superpower it still is. This task needs to be fulfilled by Republicans and Democrats alike, regardless of their differences. Otherwise, someone else will fill in the vacuum left by the U.S. should it opt to isolate itself or adopt an attitude of indifference toward such matters. This type of behavior from the U.S. would inevitably intensify foreign powers' efforts to encroach into the Western Hemisphere and topple the current world order, enabling them to get a bigger foothold and a much greater opportunity than ever to achieve their aims once and for all, according to conspiracy theories that come from so-called analysts all over the world, not just from the U.S.
Regardless of what one thinks of such theories, the grim realities of war have been nicely summed up by countless authors, including Ernest Hemingway, who said through his character, Passini: "There is nothing as bad as war. {...} When people realize how bad it is, they cannot do anything about it because they go crazy."
Ideally, people in all countries need a farewell to arms and not to be forced to take up arms, thus, global leaders have a duty and responsibility to do their utmost to achieve the much sought-after world peace dream, which will then enable economic prosperity, unlocking new revenue streams and curbing the global poverty levels by ensuring help will come to those that need it the most, setting the right example for future generations to follow and uphold. How realistic or achievable such goals are is not the right set of questions. Some may say it is the thought that counts, but then again, there is also the Latin proverb, which clearly states: Acta, non verba. Actions do tend to speak so much louder than words ever could.
In the meantime, let us go back to the topic of energy that keeps the lights on around the globe to see how its story will unfold and which chapters will be added to tackle the energy trilemma of security, affordability, and sustainability.
Thanks for reading this newsletter and stay tuned for our next edition!
Kind Regards,
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Senior Editor at Offshore Energy Today, now known as Offshore Energy's Fossil Energy market
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Best Practice Medicine Offshore
1 个月Best Practice Medicine has the teams to support your operations. Check us out… www.bestpracticemedicine.con
Global Business Line Manager at CRANE STOCKHAM VALVE LIMITED
1 个月I am sure most eyes on our industry will be watching what happens in US over the near future. I don't see it so much turning away from renewable energy as much as a recognition that it's just not ready yet to start switching off current energy sources. If anything like here in UK the infrastructure just isn't there yet and needs huge investment. That's won't happen I'm sure until prices start coming down as well- bit of chicken and egg, or maybe just a game of chicken. Electric cars filling manufacturer's lots is a sign everything's not quite ready yet, but it will be fun times getting there and we will work hard in developing technologies. In meantime let's not let cancel culture get to our current energy sources. Wheres your bet for the winner in new energy generation?
The energy transition is a big topic, and it’s inspiring to see so many companies working toward a more sustainable and efficient energy world.
My trade boiler maker and welding at Previous Kraatz marine engineering PTY
1 个月Great advice
Director / Consultant Zoran Consultants Limited
1 个月Long overdue!