Energy Giants Ditch Oil and Coal Projects. Smaller Rivals Want Them.

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BP’s $2.6 billion sale in February of a stake in an Omani gas block to Thailand’s national oil company, PTT, is evidence of growing emerging-market demand, according to Bernstein Research analyst Oswald Clint. While several Asian countries “have been talking about net-zero [emissions], all of them are still indicating strong appetite” for fossil fuels, he added.

Seriti, based in South Africa, has previously bought assets from Anglo American and is in the process of acquiring projects from, expanding in a fuel seen as too dirty by some but still crucial for the country’s electricity generation.Select breaking and enterprise stories about energy markets and businesses, through news alerts delivered to you via email.

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