Rystad Energy

Rystad Energy is an independent energy research and business intelligence company headquartered in Oslo, Norway. It is the biggest independent energy consultancy in Norway,[1] and a world-leading analysis company for the oil and gas industry.[2] The company provides mainly oil and gas analyzes, but the share of renewable energy and carbon emission analyzes has increased continuously.[3] Its main market is New York.[3] In addition to oil, oil services and finance companies, its customers include institutions such as OPEC, the International Energy Agency, and the World Bank, among others.[4]

Rystad Energy AS
TypeLimited liability company
IndustryEnergy consultancy
Founded11 November 2004 (2004-11-11)
FounderJarand Rystad
US$ 37,4 million (2019)
Number of employees
300 (2020)
Websitewww.rystadenergy.com

Rystad was founded in 2004 by Jarand Rystad, a Norwegian physicist and earlier consultancy partner for McKinsey.[3][4] The company specializes in analysis of global energy issues, and has the sole comprehensive database for production data, engineering and financing of all oil and gas fields and deposits in the world. It also has developed similar databases for a wide range of segments within fossil and renewable energy production and related energy equipment and services sectors.[5]

The company is owned by its founder and CEO Jarand Rystad with minority shares owned by senior staff of the company.[4] Jarand Rystad is described by Financial Times as "one of the most cited petroleum analysts in the industry".[6][7] The publishing operations are led by former Upstream editor Eric Means.[4] Its head of global oil markets is Bjørnar Tonhaugen.[8]

Rystad Energy is headquartered in Oslo and has global offices in Houston, Singapore, Dubai, Houston, New York, London, Aberdeen, Moscow, Istanbul, Rio de Janeiro, Singapore, Tokyo, Kuala Lumpur, Beijing, Bangalore, Stavanger, Sydney, and Perth.[9]

In 2019, Rystad's revenue was 331 million Norwegian krone and operating profit was 8.3 million krone.[3][4]

In November 2020, Rystad predicted that due to COVID-19 and energy transition oil demand will peak at 102 million barrels per day (16,200,000 m3/d) in 2028.[1][10] It has also said that at least US$3 trillion investment into exploration and development of 313 billion barrels (4.98×1010 m3) of new oil resources would be required to meet the oil demand in 2050.[11][12]

References
  1. "Pandemic, energy transition to hasten peak in global oil demand – Rystad Energy". Reuters. 2 November 2020. Retrieved 3 January 2021.
  2. Haugstad, Tormod (7 June 2020). "Han tror fortsatt det kan være lønnsomt med nye oljeprosjekter, men sol, havvind og hydrogen er framtida" [He still believes it can be profitable with new oil projects, but solar, offshore wind and hydrogen are the future]. Teknisk Ukeblad (in Norwegian). Retrieved 3 January 2021.
  3. Johannessen, Erik Bucher (2020-07-12). "Rystad Energy selger oljeanalyse som aldri før – satte ny inntektsrekord i fjor" [Rystad Energy sells oil analysis like never before – set a new revenue record last year]. Dagens Næringsliv (in Norwegian). Retrieved 2020-12-09.
  4. Vaage, Lars Tobias (10 July 2020). "Rystad øker inntektene for tiende år på rad" [Rystad increases revenues for the tenth year in a row]. Finansavisen (in Norwegian). Retrieved 3 January 2021.
  5. Løvås, Jostein (24 August 2016). "Erobrer verden i krisen" [Conquers the world in crisis]. Dagens Næringsliv (in Norwegian). Retrieved 2020-12-09.
  6. "Subscribe to read | Financial Times". www.ft.com. Retrieved 2020-12-09. Cite uses generic title (help)
  7. Klemsdal, Andreas (17 April 2020). "Stort intervju: Slik ble Jarand Rystad hele verdens oljehjerne" [Big interview: This is how Jarand Rystad became the oil brain of the whole world]. Finansavisen (in Norwegian). Retrieved 2020-12-09.
  8. Hvamstad, Eline (26 May 2020). "Sjefstrateg: – Det ser veldig bra ut akkurat nå" [Chief strategist: It looks very good right now]. Finansavisen (in Norwegian). Retrieved 3 January 2021.
  9. "Contact Us". www.rystadenergy.com. Retrieved 2020-12-09.
  10. Kulovic, Nermina (2 November 2020). "Rystad sees oil demand peaking in 2028 accelerated by Covid-19 and energy transition". Offshore Energy. Retrieved 3 January 2021.
  11. "Exploration overdrive urgently required, report claims". Offshore Magazine. Pennwell Corporation. 10 December 2020. Retrieved 3 January 2021.
  12. Chambers, Sam (10 December 2020). "Rystad warns the world might not have enough oil to meet demand through 2050". Splash 247. Asia Shipping Media Pte Ltd. Retrieved 3 January 2021.


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