Global energy sectors are currently fighting an uphill battle, confronted by not only Corona Virus global lockdowns and OPEC+ market share strategies. The last years conventional energy sectors have already been facing a fledgling interest of institutional investors, shareholders and banks for their current and future project financing.
With increased share-holder activism, and the Greta Thunberg Effect, international oil companies and independents are faced with a push to change strategies, invest more in renewables, while forced to keep production at levels commercially attractive and securing global energy supply.
The current toxic mix could mean for a vast part of operators and oilfield services the last nail in the coffin. The post-Corona period will decide where private oil and gas sector participants are heading.
Another underexposed issue is; who is going to fill up the gaps in production, financing and energy security? Will this be National Oil Companies, financed by sovereign wealth funds (SWFs), increased Islamic financing or new financial strategies. Or will it mean a full-fledged approach to a fast-tracked renewables future?
- Financial threat to the energy sector
- Increased competition between Conventional and Renewable project financing
- The role of shareholders and governments
- Security of energy supply under threat?
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Leon Stille, General Manager EDI, has a background in Earth Sciences (BSc) and renewable energy technology (MSc) from the University of Utrecht. From the start of his career he has focused on conventional and renewable energy technology development and education. He has held commercial roles in several energy companies such as the Dutch gas grid operator Alliander and international oil & gas company Frames. Furthermore, he worked for Netherlands Organisation for applied scientific research (TNO) as business development manager dedicated to enabling and accelerating the energy transition.
Dr. Cyril WiddershovenCo-owner of Dutch consultancy VEROCY
Dr. Cyril Widdershoven is a long-time observer of the global energy market. Presently, he holds several advisory positions with international think tanks in the Middle East and energy sectors in the Netherlands, the United Kingdom, and the United States.
He earned his post graduate degrees at King’s College, University of London, Department of War Studies, and an MA in Middle East Studies at the University of Nijmegen, the Netherlands. The main focus of his work has been on geopolitical risks, terrorism, fundamentalism and military/defense related issues in the MENA region. At the same time, due to consulting work and advisory, he has become involved in the oil, gas and energy sectors in the region and Africa.
He held several senior publishing positions in leading energy publications such as Afroil, Middle East Oil and Gas, and North Africa Oil and Gas Magazine Cairo, and he continues to oversee the Mediterranean Energy Political Risk Consultancy. Dr. Widdershoven worked on M&A operations in Egypt, Libya, Sudan, and Iran, he studied the pipeline operations in Libya, Algeria, Nigeria and Turkey, and he assessed risk for institutional investors and banks in Libya, Egypt, Saudi Arabia, Oman and Iraq, all while advising the Dutch government and international organizations on related issues.