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Once provable reserves now becoming stranded assets

December 11, 2020

Africa Oil and Gas Report:

All- For-One; One-For-All

Musketeer 1 Big Oil: ExxonMobil, Chevron, Equinor, BP, Shell, TOTAL, and ENI

Musketeer 2 New Energy: Enel, Iberdrola, Engie, and Ørsted

Musketeer 3 Energy Africa

There is growing evidence of a new convergence between Musketeer 1: Big Oil and Musketeer 2: New Energy Companies.

Perhaps not so much convergence but cross-overs and falling by the wayside of others and in the process creating new alliances.

Little attention has been paid to Musketeer 3: Energy Africa, perhaps viewed as the junior Musketeer, but nonetheless playing a significant role.

Their-All-For-One; One-For-All requires a further explanation. 

IEEFA (Institute for Energy Economics and Financial Analysis) recently evaluated Shell’s green progress. According to Clark Butler, the author of the report, Shell must shift at least $10Billion per annum or 50% of total capital expenditures from oil and gas and invest in renewable energy if they are to reduce their carbon intensity in line with their own stated goals. 

[Gerard Kreeft]

More: The Three Musketeers of the Energy Transition: The New Emerging Value Chain

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