Why the E&P Sector Should Reach Net-zero—and Fast

While recent events have proven that energy security matters, the oil and gas industry needs to make net-zero a standard to ensure its role in the diversifying energy mix, according to a new report by Kimmeridge.

Why E&P Sector Should Reach Net-zero—and Fast

ConocoPhillips is among the gas producers that have separated themselves from the net-zero pack, according to Megan Hays, managing director at Kimmeridge.  (Source: ConocoPhillips Co.)

Despite recent rhetoric, the oil and gas industry is not going anywhere, according to Mark Viviano, head of public equities at Kimmeridge.

The International Energy Agency (IEA) made waves last year when it said investors should not fund new oil, gas and coal supply projects in order to avoid the most devastating impacts of climate change. A lot has changed since the IEA’s warning though. 

“I think what we’re learning is you can’t just wish away oil and gas,” Viviano said. “And a premature transition is going to prove to be inflationary. And importantly, the world is learning that security of supply matters.”

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Brian Walzel

Brian Walzel is senior editor for Hart Energy’s E&P Plus.