Thursday , January 21 2021

This is a new age: The world without oil, "seven new sisters" was born



Economy

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Goldman Saks Investment Banking Group warns that the world will face global oil shortages.

The reason is, as they stated, that oil companies will not be able to invest enough in future production. Global oil producers are increasingly looking for investments in low energy in the energy sector, under pressure to produce cleaner energy, which comes from both countries and investors.

"In the next decade we will have a clear physical oil shortage, because no one will be allowed to make a comprehensive investment in oil production in the future," said Michael Del Vinja, head of EMEA Natural Resources Research at Goldman Sachs. "This transition will be achieved through higher, and not lower oil prices," he said.

According to B92, Dela Vinja said that, until the transition to renewable energy sources was completed, temporary fighting would get the largest share in the gas-based market. Considering that, given the enormous capital costs of gas infrastructure, there are huge opportunities for large state-supported companies.

"We are talking about seven companies that dominate the global oil and gas market, because no one else can finance this mega project," he said.

This is the "seven new brothers" group, a company that is considered the most influential company in countries outside the Organization for Economic Co-operation and Development (OECD). These are Saudi Aramco, Gasprom, NIOC Iran, Petrobras Brazil, PDVSA Venezuela, Petronas from Malaysia and Petroleum China.

The original "seven sisters" were companies from the 1950s from which BP, "Chevron", "Shell", "Exon car" and "Royal Dachshell" were changed.

Dela Vinja believes that European oil companies, such as British "Sheela" and French "Totale", are ahead of competing companies in the US in the process of transitioning from big oil companies to big energy companies.


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