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Seb Kennedy's picture
Founding Editor Energy Flux newsletter

I am professional energy journalist, writer and editor who has been chronicling the renewables and fossil fuel energy sectors since 2008.  I am passionate about the energy transition, so much so...

  • Member since 2020
  • 103 items added with 54,020 views
  • Aug 17, 2020

This article provides an assessment of the drivers behind the recent merger deal between mid-cap oil and gas company Noble Energy and US oil supermajor Chevron. It examines how Noble Energy's board of directors looked for a route out of 'business as usual' when they realised the energy transition would pose an existential challenge to their business model. It also assesses the prospects of Chevron developing Noble's undeveloped assets in the eastern Mediterranean, a region beset by geopolitical tensions and awash with surplus natural gas.

Matt Chester's picture
Matt Chester on Aug 17, 2020

While these moves are certainly not the sole responsibility of COVID-19 and the odd economic year that has resulted, but do you think we may end up looking back on 2020 as a pivot point that was forced upon us earlier than expected because of the pandemic and the economic fallout? 

Seb Kennedy's picture
Seb Kennedy on Aug 19, 2020

Yes. Covid has accelerated a lot of long-burn trends in the energy sector and society more broadly, many of which in turn impinge upon how we use energy. Some people say peak oil demand occurred last year, others say it will come by 2030. We shall see. But the direction of travel seems to be clearer than ever, and this is influencing business decisions. There is now palpable urgency around the need for companies to adapt to what promises to be probably the most turbulent and challenging decade in living memory.

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