| THE ENERGY INDUSTRY OUTLOOK FOR 2019 |
استشراف مستقبل صناعة الطاقة لعام 2019 |
| Challenging times bring opportunities, and the global oil sector must continue to adapt to survive the new energy paradigm, writes Will Rankin |
كما يتوجب على قطاع النفط العالمي الاستمرار في التكيّف لضمان البقاء على قيد الحياة ضمن نموذج الطاقة الجديد، |
| While we have witnessed several years of oversupply, analysts suggest we are now moving into an era of supply shortages. |
بينما شهدنا عدة سنوات من فائض الإمداد، |
| When the CEOs of oil majors including Total, Eni, and Saudi Aramco warn of a supply crunch by the end of the decade, the industry takes notice. |
فعندما يحذّر المديرون التنفيذيون لشركات النفط الكبرى، |
| The International Energy Agency (IEA) has been discussing the possibility of a supply ‘crunch’ since 2016. |
فعلى الصناعة أخذ ذلك بعين الاعتبار. |
| A decline in supply might seem hard to imagine, given increased US oil production, renewed optimism across the sector, and a rebounding oil price. |
قد يبدو من الصعب تخيّل نقص الإمداد، |
| There’s a clear sense that the industry is recovering from a tough few years, characterised by weak prices, enforced capital discipline, portfolio realignments and productivity efficiencies. |
هناك شعور واضح بأن الصناعة تتعافى من سنوات قاسية صعبة، |
| But oil demand is growing, and big-ticket project investment has been deferred during the downturn – meaning there is less potential supply available. |
لكن الطلب على النفط آخذ في النمو، |
| Oil companies need to boost production - and there’s a risk some might not be able to keep up. |
وهذا يعني قلة الإمداد المتاح. |
| Volatility is at the heart of the issue. |
على شركات النفط تعزيز الإنتاج، |
| The world’s energy producers need time to consider strategies for an over- or under-supplied market. |
التقلب وعدم الثبات هو في صميم القضية. |
| On top of that, there’s dealing with the pace and sheer size of the transition to new forms of energy from non-traditional, non-fossil fuel based sources. |
علاوة على ذلك، |
| What’s clear is that oil and gas companies must develop long-term resilience to mitigate the risks inherent in the industry. |
والشيء الواضح هو أن على شركات النفط والغاز التحلي بالمرونة على المدى البعيد، |
