Emerging economies must continue to rely on fossil fuels while demand is high, largely ignoring the developed world’s green transition and taking this opportunity to develop their economies and boost employment figures around cheaper oil production than developed states can now offer. As long as prices and demand remain high, emerging economies will continue oil and gas production as oil majors pursue low-cost oil projects across Latin America, the Caribbean and Africa, while North America and Europe begin the transition away from fossil fuels towards renewable alternatives in a bid to respond to international pressure on climate change. The Offshore Technology Conference held this month in Houston highlighted the potential of several newcomers to oil and gas. Brazil, Ghana, Guyana, and Suriname, to name a few, presented strategies to increase oil and gas output over the next decade, following significant discoveries in recent years. The first oil technology conference […]