A short thread on why I believe Oil & Gas demand will continue to rise despite all climate talks
1) We need to recognize, Demand Growth will remain high in APAC & Africa for O&G products despite all renewable initiatives.
#OOTT #Oil #Gas
1) We need to recognize, Demand Growth will remain high in APAC & Africa for O&G products despite all renewable initiatives.
#OOTT #Oil #Gas
2/ After Gasoline & Diesel the highest proportion of product consumption is LPG.
A major product in Domestic and Industrial cooking. APAC & Africa alone have >2 billion people without proper access to this fuel.
Ofcourse Natural Gas can contribute but #LPG is popular here.
A major product in Domestic and Industrial cooking. APAC & Africa alone have >2 billion people without proper access to this fuel.
Ofcourse Natural Gas can contribute but #LPG is popular here.
3/ To given an idea, how big LPG consumption growth could be
#India in last decade is growing 7 to 8% LPG CAGR. Highest growth rate among all Oil products. Not Gasoline nor Diesel grown at this consistent pace
Now link back we still have ~2 billion without clean cooking access
#India in last decade is growing 7 to 8% LPG CAGR. Highest growth rate among all Oil products. Not Gasoline nor Diesel grown at this consistent pace
Now link back we still have ~2 billion without clean cooking access
4/ Also, check how Oil investments have been done vs this demand growth.
While demand has been continuously growing excluding 2020, investments did take a big cut in 2015 and didn’t jump back
Hence not only I believe Demand will grow but also believe O&G Capex will have to grow
While demand has been continuously growing excluding 2020, investments did take a big cut in 2015 and didn’t jump back
Hence not only I believe Demand will grow but also believe O&G Capex will have to grow
@ira_joseph this skims the surface but wondering if you are covering LPG as well. I just a made a quick couple of tweets above based on LPG demand.
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