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Tariq Siddiqui's picture
COO Upstream EP Advisors LLC

Oil & Energy | Business Development | Capital Projects | Offshore Wind -  Proven leader in offshore development and operations, with 25+ years’ expertise in managing business through cycles...

  • Member since 2021
  • 136 items added with 94,947 views
  • Jul 12, 2021

Oil and gas is a risky business. Over the years, those risks have been tempered by a single tenet – that demand would continue to rise indefinitely. As the energy transition gathers momentum, that belief has all but evaporated. There is a $14 trillion worth of uncertainty for upstream oil and gas


Oil and gas companies need to send a strong signal to stakeholders that they can be reliable stewards of capital.

  1. Only exceptional, low-cost projects will work in all demand scenarios
  2. Oil and gas companies must improve their environment, social and governance (ESG) credentials.
  3. Investment will shift to gas, ending oil’s long supremacy.
  4. Business models must adapt to maximize value



While the range of outcomes has major implications for the oil and gas industry, whatever scenario there is still a huge amount of upstream value on the table ($ 9.0 – $23 trillion; an uncertainty of $ 14 trillion). But the world will still need oil and gas supply for decades to come, and the scale of the industry will remain enormous. The industry needs to remain relentless in its push to improve efficiency, drive down costs and deliver projects flawlessly.


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