(53x) The Future of Oil and Gas

The dramatic collapse in the price of oil and the failure of the market to recover over the last two years has shocked all of us working in the oil and gas industry. Many questions are being asked, many beliefs are being challenged and there is much existential angst. The Institution of Chemical Engineers’ Energy Centre has been working to answer key questions to help us identify the next steps we must take to move forward.

This presentation will discuss the report produced by the IChemE Energy Centre The Future of Oil and Gas and present the views of the global chemical engineering community on the following key questions:

1. Is the oil and gas industry declining? 
2. How will the oil and gas industry change in the next 10-20 years? 
3. What required transitions will the oil and gas industry need to undergo? 
4. What are the main technical challenges that the oil and gas industry faces? 
5. How does security of energy supply influence the industry? 
6. How does the US differ from the rest of the world? 
7. How does climate change impact our work? 
8. How will the trilemma of security of supply vs climate change vs cost play out? 
9. Where can chemical engineering make a difference? 
10. What are the consequences for the chemical engineering community?