In the latter half of 2024, the energy sector is contending with both challenges and opportunities. China’s slowing oil demand, the weakest in 15 years, is unsettling global oil prices, while the looming sunset of Tax Cuts and Job Acts tax benefits force companies to reassess their financial strategies and expenditure plans. Yet, with the recent Federal Reserve rate cut offering a hopeful outlook, the market has been buoyed by the expectation of lower capital costs for future projects, raising the prospects of the ability to achieve return targets. Mergers and acquisitions, particularly in the Permian Basin, remain a dominant trend, as major players seek to expand through consolidation.

At the same time, Exploration and Production operators’ continued push toward digital oilfields is reshaping upstream operations, leveraging Internet of Things and predictive analytics to enhance efficiency. Despite global geopolitical tensions, Liquefied Natural Gas prices have stabilized, pointing to strong long-term growth. Meanwhile, Renewable Natural Gas continues to see rapid growth, supported by favorable government policies, though the results of the upcoming 2024 U.S. presidential election could significantly impact the trajectory of energy transition projects.

Overview for This Edition:

• China’s Economic Slowdown and Impact on Oil Demand
• TCJA Sunset and Fed Rate Cut Expectations
• Energy Sector Consolidation: Permian Basin Focus
• Digital Transformation Across Energy Sector Led by AI
• LNG Market Stability Amid Geopolitical Risks
• Renewable Energy Expansion and RNG Growth