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《Future and Development》 2018-05
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Facing New Energy Revolution, Where Do Oil and Gas Business Goes?

Li Wei;Sinopec International Petroleum Exploration and Production Corporation;  
As climate change and environmental pollution become increasingly prominent, the third energy revolution is under way and world energy structure gradually turns to efficient, diversified,clean, low carbon and renewable energy. The Paris Agreement and the timetable to ban new diesel and petrol cars made by all major European governments have further promoted the energy transition and help to accelerate development of electrical vehicles, which can not completely change petroleum demand in short and middle term. Until 2035, the fossil energy has still been the largest and most dominant in the world primary energy,but the consumption structure of the fossil energy will be further optimized, the growth of oil demand globally will slow down and natural gas will be the fastest-growing fossil energy. Facing the challenge of renewable energy, upstream oil and gas business will shift to clean nature gas and low cost crude oil. Based on market led growth, downstream business will focus on new clean products and new diversifications.
【CateGory Index】: F416.22
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