29 Sep 2021
CMD: can do it all
The company maintained its bullish stance on oil prices over 2021-25 as it sees a need for 3-5mbd of additional greenfield conventional projects to be sanctioned by the end of 2022 against an average of less than 1.5mbd between 2015 and 2021. This seems to underpin the company’s mid-term production profile (i.e. flat oil production until 2025), while the pace of the energy transition will determine the long-term one.
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CMD: can do it all
The company maintained its bullish stance on oil prices over 2021-25 as it sees a need for 3-5mbd of additional greenfield conventional projects to be sanctioned by the end of 2022 against an average of less than 1.5mbd between 2015 and 2021. This seems to underpin the company’s mid-term production profile (i.e. flat oil production until 2025), while the pace of the energy transition will determine the long-term one.