Oil and gas in the era of decarbonisation: challenges and opportunities
The global energy industry is undergoing rapid change in the transition to a low carbon future. The oil and gas industry is facing significant challenges from declining demand for fossil fuels, increasing environmental regulation and the emergence of competition from renewable energy sources.
New realities: Demand for oil and gas may decline due to the growing popularity of electric vehicles, the development of alternative energy sources and increased international co-operation to combat climate change. Governments around the world are already imposing new regulations related to carbon footprints and emissions, forcing oil and gas companies to look for ways to reduce their environmental impact.
Opportunities for the oil and gas industry: Despite the challenges, the industry has opportunities for growth. Oil and gas companies can invest in innovative technologies such as carbon capture and storage (CCUS), develop green extraction and refining methods, and participate in hybrid energy systems that incorporate fossil fuels and renewable sources. In addition, the industry can focus on gas supply as a cleaner and more efficient energy source.
Conclusion: The transition to a low-carbon future requires the oil and gas industry to embrace new realities and focus on innovation, sustainability and the creation of new business models to meet changing market demands.
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