Four Top Takeaways from the World Petroleum Congress

Climate change and Biden administration’s feud with Big Oil were two of the key themes that dominated the 23rd World Petroleum Congress held in Houston.

Myles McCormick and Justin Jacobs, Financial Times
wpc_shutterstock

A return to the bygone era of “drill baby drill” in the US shale patch was not on the agenda at the 23rd World Petroleum Congress. (Source: Shutterstock.com)

Covid and worries around the flare-up of the Omicron variant, meant numbers at the World Petroleum Congress (WPC) were a far cry from what they might have been—with a handful of big companies and industry personalities pulling out at the last minute. Following are the four key takeaways from the event:

1. Climate on the main stage

Climate change has long been the elephant in the room at these Big Oil gatherings. A decade ago, it was largely ignored. Five years ago, it was largely minimized or dismissed. It has now — after far too long — taken center stage.

ExxonMobil’s Darren Woods set the new tone on the conference’s first day, calling climate change “one of the most important conversations of our time”.

Already have an account? Log In

Subscribe now to get unmatched and complete coverage of the Energy industry’s entire landscape!

View our subscription options
  • Access to site wide content
  • Access to our proprietary databases
  • Watch exclusive videos with energy executives
  • Unlimited access to an extensive library of Playbooks, Techbooks, Yearbooks, supplements, and special reports
  • Newly Added! Access to Rextag's Energy Datalink, containing extensive GIS databases of energy assets, production records, processing capacities, physical locations, planned projects, acquisition records, and much more.