Energy Magazine August 2022 | Page 69

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10

ENERGY COMPANIES

These energy big-hitters stand on the front line of the energy transition

WRITTEN BY : DOMINIC ELLIS

With world oil demand forecast to reach 101.6mbd in 2023 , surpassing pre-pandemic levels , and ongoing geopolitical uncertainty with gas supplies , it ' s hard to recall a busier time for the energy majors – and that ' s before you consider the tumultuous transition to renewables and low-carbon technologies and operations .

The IEA warns global oil supply may struggle to keep pace with demand next year , as tighter sanctions force Russia to shut-in more wells and a number of producers bump up against capacity constraints . But it ' s safe to assume the following 10 companies will be at the forefront of any short- and medium-term industry changes . energydigital . com 69