Upstream In Perspective

Lazard Inc. is one of the world's leading financial advisory and asset management firms. The company’s Financial Advisory practice supports its clients on mergers and acquisitions, restructurings, debt and capital structure and capital raising. Its Asset Management segment provides a range investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. Spiro Youakim, Lazard’s Global Head of Natural Resources and co-head of European Energy and Renewables, joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss his role as an advisor at Lazard and share his growing optimism for the prospects of European energy companies after many years of underappreciation by the global investment community. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

The US biofuels industry begins 2025 facing significant policy uncertainty, despite having produced record volumes of ethanol, renewable diesel, and sustainable aviation fuel in 2024. Biofuels expert Corey Lavinsky joins EnergyCents hosts Hill Vaden and Sam Humphreys to discuss the current state of US biofuels and the implications of evolving federal policies on developers and their projects. For more information on S&P Global Commodity Insights' energy coverage, visit: https://www.spglobal.com/commodityinsights/en.

The role of North American gas is set to expand as LNG exports and domestic power demands increase the call on the domestic supply. However, there remains uncertainty in both the timing and levels of expected demand growth.  North America gas expert Sara Hakim joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss the current state of North America gas and how the sector will respond to calls for growth.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

As adoption of AI expands across the globe, through LLMs, Cloud services, inferencing, and network hubs, more power-hungry data centers are needed to meet this demand. With this expansion of technology, regions are taking different approaches on how to build out this infrastructure, with plans for new hubs being announced regularly.   AI and Datacentre Research Director Kelly Morgan joins hosts Hill Vaden and Sam Humphreys on this week's episode of EnergyCents to discuss just how many of these new facilities will be realized, and what impact the likes of DeepSeek and other new technologies will have on these plans as efficiencies of this technology improves.

Canadian-based Ideon Technologies is revolutionizing the exploration of subsurface resources through its use of cutting edge, cosmic-ray muon tomography. The company provides customers innovative solutions for sustainable and efficient resource discovery, making signiificant strides in reducing environmental impact whilst enhancing operational efficiency.  Gary Agnew, CEO and co-founder, joins EnergyCents with hosts Hill Vaden and Sam Humphreys to introduce Ideon Technologies business model and technology led outlook as it continues to scale, driven by significant investments and strategic partnerships. Learn more about Ideon Technologies here: Unlock Subsurface Potential with the Ideon REVEAL™ Platform

Europe is making progress against its net-zero ambitions and is generating about 70% of its electricity from carbon-free sources, including nuclear. However, wholesale prices remain high following the 2022 energy crisis, and demand has yet to return to pre-Covid levels. European power market experts Sylvain Cognet-Dauphin and Coralie Laurencin join EnergyCents with hosts Hill Vaden and Samantha Humphreys to discuss the current state of European power markets and how evolving government policy seeks to balance climate, security, and affordability priorities. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Denver-based Redaptive is an energy-as-a-service company that works with commercial and industrial customers to fund and install energy-cost saving equipment. The self-described ‘one stop shop’ was founded in 2015 and provides its customers access to three core services: capital for energy-cost saving equipment installations, a data platform measuring the impact of those installations on utility expenses, and a marketplace that connects contractors with Redaptive’s commercial and industrial customers. Arvin Vohra, Redaptive CEO, joins EnergyCents with hosts Hill Vaden and Sam Humphreys to introduce Redaptive’s infrastructure-plus business model and describe how its three-pillar program can generate measurable value by lowering the energy bills of its commercial and industrial customers. Learn more about Redaptive at: https://redaptive.com/company Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en  

Led by corporate mergers, nearly $160 billion in merger-and-acquisition activity took place within the global upstream sector in 2024. Producers will continue to use acquisitions to grow their portfolios going forward as they bid for scale in a dynamic, and fragmenting, energy landscape. Upstream expert Chris Sheehan joins EnergyCents with hosts Hill Vaden and Samantha Humphreys to discuss the role oil and gas deals will play in 2025, and what regions and asset types may be most attractive to buyers. Hear Chris and team discuss upstream M&A trends in more detail during one of three webinars scheduled for the first week of April 2025. Register here: Global Upstream M&A Review 2025: Revival of the fittest - M&A opportunities in a shifting landscape Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

About 10,000 people attended S&P Global’s annual CERAWeek conference in Houston last week to participate in dialogue around the event’s organizing principle, “Moving Ahead: Energy strategies for a complex world.” Sam Humphreys hosts this week’s episode alone as Hill Vaden joins Naki Mendoza CERAWeek Programs Director to discuss their experiences and observations while attending the week-long “Super Bowl of Energy.” Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

A Day One executive order from Donald Trump's new administration aims to utilize Alaska's abundant natural resources, including oil and gas. This includes prioritizing the development and export of LNG to domestic and international parties. S&P Global upstream expert Cody Schulte joins host Hill Vaden and Sam Humphreys to explore the role Alaska currently plays in the North American oil and gas markets and what this executive order could mean for developments on both federal and state lands.

(B)energy is a German company that has developed backpacks to store and transport biogas that can be used to displace firewood and coal in cooking. The company is an affiliate of BiogasUnite, a digital platform that bridges gaps in the installation, maintenance, and repair of biogas systems. Katrin Puetz, founder and managing director of (B)energy and co-founder of BioGasUnite, joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss the opportunity for biogas in Africa to limit air pollution and unlock new income opportunities for small-scale producers. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Global metal markets are facing massive opportunities and challenges as the world transitions to green technology. Recent and ongoing changes in the US administration have wide-ranging implications for metal markets, the economy, and the future of sustainable energy solutions. S&P Global expert Nick Trickett joins EnergyCents hosts Sam Humphreys and Hill Vaden to explore the critical role of metals in this energy shift, and how to sift through news versus noise when it comes to discussion of these markets.  Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

The global electricity landscape is undergoing a period of profound change as conventional resources compete with renewable supply to meet expectations of broad demand growth. S&P Global experts Etienne Gabel and Doug Giuffre join EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss the top trends that will define global power markets in 2025. And, yes, the rise of datacenters is one of the top trends to watch. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Oil markets begin the year with OPEC+ sitting on more than 5.5 million barrels per day of spare capacity and the incoming Trump Administration wants to see US producers ‘drill, baby, drill.’ S&P Global expert Jim Burkhard joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss these, and other, top trends that will define global oil markets in 2025. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Germany grew to become Europe’s largest economy on the back of an export-led manufacturing sector. The energy-hungry economy is now trying to maintain its competitiveness after losing access to Russian gas pipeline imports in 2022, phasing out its nuclear capacity in 2023, and retiring its coal-fired power fleet by 2038. S&P Global expert Daniel Muir joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss Germany’s challenge to reinvigorate its economy while meeting decarbonization goals through a changing mix of energy supply. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Trade wars, US policy upheavals, China’s clean energy blitz, a crude market under pressure and the convergence of AI and the energy sector will define 2025 for energy investors. S&P Global experts Justin Jacobs joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss the top trends that will influence energy investors in 2025. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

As Donald Trump returns to office the landscape of natural gas in the US, and LNG in particular, is expected to shift both domestically and globally. S&P Global gas market experts Laurent Ruseckas and Matthew Palmer join EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss the top trends that will shape global gas markets in 2025. Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Toronto-based SWTCH has focused on developing electric-vehicle charging solutions for multi-tenant properties in North America since its 2016 founding. The company now manages more than 17,000 charging ports across its network.  Carter Li, SWTCH founder and CEO, joins EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss the SWTCH business model and explain how the company is working with multi-tenant property owners and other partners to scale EV charging in North America's high-density urban centers.  Learn more about SWTCH at: https://swtchenergy.com/ Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

Led by investment in solar capacity, global spending on clean-energy technologies will exceed investment in upstream oil and gas for the first time in 2025. S&P Global cleantech experts Edurne Zoco and Sam Wilkinson join EnergyCents with hosts Hill Vaden and Sam Humphreys to discuss the top 10 trends that will shape clean energy technology supply chains in 2025.   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en

We welcome back S&P Global Commodity Insights energy experts Reed Olmstead and David Vaucher for our 6th annual year-in-review and resolutions episode. Hosts Sam Humphreys and Hill Vaden check in to see how well we performed against 2024 energy expectations, consider some of the year’s biggest trends, and share market predictions and personal resolutions for the coming year.   Listen to prior year-end conversations with Reed and David here: 2023: Holiday Special: Annual year-in-review and resolutions with Reed and David 2022: A year-in-review: Energy markets, Taylor Swift, and ESG 2021: Review and resolution: Shale sector activity in 2021 and 2022 2020: Mirror, mirror on the wall: Reflections on 2020 and predictions for 2021 2019: Would you rather: 2020 upstream predictions   Learn more about S&P Global Commodity Insights energy coverage at: https://www.spglobal.com/commodityinsights/en