• Breakbulk & Project Cargo
  • 25-27 April 2022 | #Breakbulk22
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Session Details

Oil and Gas Outlook: Prices, Uncertainty, and the State of the Energy Transition

Tuesday, 26 April

11:30 am - 12:15 pm (CST) / 26/apr/2022 04:30 pm - 26/apr/2022 05:15 pm

Russia’s attack on Ukraine, global sanctions against Russian oil, and skyrocketing oil prices changed the picture for oil and gas production abruptly and completely in February and March. High prices and tight global supplies are likely to galvanize onshore production again, at least in the near term. Oil and gas industry construction projects, onshore and off, are a fundamental driver of breakbulk and project cargo volumes, but this potential demand for alternative sources of fossil fuel energy comes at a time when tonnage is scarce, rates are high, shippers are competing for cargo space, and the energy transition is gaining momentum. On top of the fraught geopolitical situation, a resurgence of COVID-19 could change the picture swiftly and dramatically. Will US onshore production play swing producer again? Will operators reopen the capex purse strings? And what are the implications for the energy transition, short term and further out? Is the nascent energy transition sustainable? Jim Burkhard, vice president and head of S&P Global’s crude oil research, will share his knowledgeable, unvarnished perspective and provide valuable insight on the present and future status of the oil and gas industry for the breakbulk industry. 

Session Speakers