Energy Games

I AM at the annual meeting of energy business magnates and experts—perhaps the most important of all such events—held in Houston, Texas. ceraWeek, as it is called, has been held this year, after a two-year hiatus because of covid-19. It is the worst of times—the Russia-Ukraine war has just broken out; sanctions have been imposed; and energy prices are spiraling out of control. As I sit and listen to the oil and gas producers, I realise that I am seeing a tectonic shift in the global energy chessboard.

The fact is, the energy price hike before and during the war has brought back focus on the role of conventional oil and gas companies. They are buoyant about their role in the post-war energy scenario—from drilling and pumping for more oil and gas, to their role in the lucrative new markets in Europe.