Why The Energy Transition Will Be Fantastic For Small Oil Companies
The Covid-19 pandemic has driven major oil producers to invest in new technologies and renewable alternatives sooner than anticipated to keep up with market trends.
this shift to open-up greater opportunities for small producers.
Although the demand for oil has dropped in 2020, it is likely to pick up rapidly in some parts of the world over the next decade. For example, the Asia Pacific region could see a demand increase of 25 percent by 2040 compared to 2019 according to predictions.
However, this demand could shift away from the world’s top oil importer, China, to the Southeast’s other giant, India. India’s demand is set to increase by as much as 5.8 million barrels per day by 2040, according to a 2018 OPEC report.
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