Related Articles
Interview
Forward article link
Share PDF with colleagues

'The oil price will rise again', says IOGP chief

Executive director of the IOGP, Michael Engell-Jensen, talks about what's next for the energy industry

The executive director of the International Association of Oil & Gas Producers struck a relatively upbeat note about the oil price – given the circumstances – at the Offshore Europe conference in Aberdeen in early September. “These downturns are always very painful,” Michael Engell-Jensen told Petroleum Economist. But the International Energy Agency (IEA) forecasts that in 2040 oil and gas will still account for half of the total primary energy demand, so “there is a fundamental need for our production, this is just a temporary feature.” In the meantime companies have to lay off a lot of good people and projects get cancelled, so “it is a mess.” But it is difficult to see how it could b

Also in this section
Maintaining Indian momentum
23 January 2018
Energy demand is expected to pick up in the year ahead after faltering in 2017. EV sales will rise
New crisis and old
22 January 2018
Subdued oil prices and intractable wars cast a shadow over the year
Oil through the worse?
22 January 2018
Opec cut, shale grew, stocks fell, demand soared, prices rose and balance—the oil market's magic word—drew near