Monday , September 20 2021

This is a new era: the world without oil was born "the new seven sisters"



Economics

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Goldman Saks, an investment banker, warned that the world would face global oil shortages.

As is clear from the above, the reason is that oil companies will not be able to invest sufficiently in future production. Global oil producers are increasingly pushing for energy in the low-energy energy sector, which is forced to produce cleaner energy from both countries and investors.

"Over the next decade, we will have a clear physical shortage of oil because nobody will be allowed a comprehensive investment in the future of oil extraction," said Goldman Sachs, EMEA Head of Natural Resources Research, Michael Del Vinja. "This transition will bring higher, rather than lower, oil prices," he said.

According to B92, Dela Vinya says that while the transition to renewable energy sources will be completed, the temporary battle will gain the largest share of the gas market. Taking into account the fact that, given the capital costs of huge gas infrastructure, there are great opportunities for large state-owned companies.

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

It is the group of "young seven sisters", which are considered to be the most influential companies outside the Organization for Economic Cooperation and Development (OECD). These are Saud Aramco, Gasprom, Iran NIOC, Brazilian Petrob, Venezuelan PDVSA, Petronas from Malaysia and China Petroleum.

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

Dela Vinney believes that European oil companies, such as the British Sheela and Totale France, are outperforming US rivals, shifting from major oil to big energy companies.


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