Rystad Energy

Last updated
Rystad Energy AS
Company typePrivately held company
IndustryEnergy consultancy
Founded11 November 2004 (2004-11-11)
FounderJarand Rystad
US$ 70.0 million (2022)
Number of employees
700 (2024)
Website www.rystadenergy.com

Rystad Energy is an independent energy research and business intelligence company headquartered in Oslo, Norway. It is the biggest independent energy consultancy in Norway, and a world-leading analysis company for the energy sector. [1] [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. [4]

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] [ non-primary source needed ]

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. [8] [9]

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

In April 2021, Rystad predicted that due to COVID-19 and energy transition oil demand will peak at 101.6 million barrels per day (16,150,000 m3/d) in 2026. [10] [ non-primary source needed ]

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] [ non-primary source needed ] [12] [ non-primary source needed ]

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References

  1. ↑ "Rystad Energy selger oljeanalyse som aldri før – satte ny inntektsrekord i fjor". www.dn.no. 2020-07-11. Retrieved 2023-06-27.
  2. ↑ "Pandemic, energy transition to hasten peak in global oil demand – Rystad Energy". Reuters . 2 November 2020. Retrieved 3 January 2021.
  3. 1 2 3 4 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. 1 2 3 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. ↑ Crooks, Ed (2019-04-14). "The week in energy: The waning of an era in US shale". Financial Times. Retrieved 2020-12-09.
  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. ↑ "Contact Us". www.rystadenergy.com. Retrieved 2020-12-09.
  9. ↑ "Slik ble han hele verdens oljehjerne". www.finansavisen.no (in Norwegian). 2020-04-17. Retrieved 2023-06-27.
  10. ↑ "Slowing down as electric vehicles accelerate, oil demand set to peak at 101.6 million bpd in 2026". Rystad Energy. 21 April 2021. Retrieved 3 September 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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