CERAWeek, one of the largest and most influential global energy forums, kicked off on Monday.
Global energy markets remain volatile and uncertain, the organizers said in a statement, noting that “rising geopolitical tensions and nationalism, growing trade friction, supply chain bottlenecks, economic headwinds, and the pandemic” are complicating the picture.
“The global energy industry is at a critical inflection point,” the statement said. “The pace of change is accelerating.”
The U.S. national average for a gallon of regular gasoline hit 4.009 dollars on Sunday, the highest since July 2008, accorAnother strong week for oil ended on Friday as Brent crude, a global benchmark, hit a fresh high. The West Texas Intermediate, another benchmark, also saw its highest finish since September 2008.ding to the American Automobile Association.
S&P Global Vice Chairman Daniel Yergin and U.S. Special Presidential Envoy for Climate John Kerry, outlined a strategy for the energy transition and the challenges of achieving a meaningful reduction in GHG emissions in the near future.
Leadership dialogue I. Next, ExxonMobil Chairman and CEO Darren Woods declared his company will focus on meeting the world’s energy requirements, reducing GHG emissions while facilitating the energy transition, mostly as a traditional oil and gas producer.
Woods also gave an update on the company’s Low Carbon Business Solution that is concentrating on producing blue/green hydrogen, CCUS and biofuels as alternatives to hydrocarbon-produced energy.
Growth + Change = Opportunity!