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Stephen O'Sullivan

Stephen O’Sullivan began his oil & gas career with several years’ experience as an oil trader, economist and corporate planner in the downstream and trading divisions of BP as well as the North Sea upstream and gas divisions of Total. In 1989 he joined Coopers & Lybrand as a strategy consultant in the oil & gas consulting business, working on the privatisation and restructuring of the energy sectors across emerging markets as well as in the nuclear power and transport sectors. He lived and worked in China, Russia, Central Asia, Eastern Europe, Southern Africa and the Middle East. In 1995, he was appointed Head of Research and Oil & Gas Analyst at MC Securities in London, where the team was ranked number 1 in EMEA oil & gas. Following the sale of that business to JP Morgan in 1998, he moved to Moscow as a Partner and Head of Research at United Financial Group, where he and his team were ranked the number 1 oil & gas research team and the number 1 Russia country team for seven years in a row. After the sale of UFG to Deutsche Bank in 2005, Stephen became Head of EMEA and Latin American Research where his research team was ranked the number 1 team across all sectors, in Russia & South Africa and across the broader EMEA region in 2006 and 2007. In 2007 he moved to Hong Kong as Head of Asian Research for the Australian bank Macquarie. In 2009 he joined Barclays to lead the build-out of its Asia ex-Japan equity research business. In 2013 he joined Trusted Sources focusing on China energy and based in Hong Kong. His major research themes include China’s gas sector reform and China’s nuclear renaissance. In 2016 following the merger between Trusted Sources and Lombard Street Research to form TS Lombard, he took on an additional role as CEO of TS Lombard Research Partners, our market-facing independent analyst platform. He is currently a Senior Visiting Research Fellow at the Oxford Institute of Energy Studies, the world’s number 1 ranked energy think tank.

Recent Posts

Big Oil and the Energy Transition: Out of their comfort zone?

30 Jun 2020 - Stephen O'Sullivan

The Energy Transition is upon us and one of the key challenges facing today’s oil and gas companies is: how do they address the fundamental changes that are needed in their business to adapt to, take part in and thrive.

#Energy #Oil Price

Is peak oil now behind us?

27 May 2020 - Stephen O'Sullivan

In the last blog on energy a couple of weeks ago A bad week for Big Oil... with worse to come?, I highlighted two different views about Peak Oil out in the market: those who thought that the moment of Peak Oil (as in.

#OPEC #Oil Price #Russia #Saudi Arabia

A bad week for Big Oil... with worse to come?

07 May 2020 - Stephen O'Sullivan

The last week was quieter in the oil markets as far as prices were concerned and there was a steady drift upwards on the back of some economies partially reopening. It was, however, reporting week for the oil companies.

#Oil & Gas #OPEC #Oil Price #Russia

After oil at -$40, what next?

27 Apr 2020 - Stephen O'Sullivan

Last Monday we warned that oil prices could turn negative.  That evening they did just that, with the main US domestic grade WTI trading as low as -$40/bbl for the May contract (sellers were paying buyers to take the.

#OPEC #Oil Price #Russia

OPEC+ agreement: A band-aid to delay the crisis

14 Apr 2020 - Stephen O'Sullivan

Over the past weekend OPEC+ (OPEC plus Russia - and now plus a few other countries as well) announced that it had reached an agreement to cut oil production in response to the dramatic falls in oil demand following the.

#OPEC #Oil Price #Russia #Saudi Arabia

Prospects for the recovery of the global oil market

03 Apr 2020 - Stephen O'Sullivan

On January 1 Brent crude oil was trading above $66/bbl.  Three months later, it had fallen by more than 60% from that level.  A coronavirus-driven decline was followed by a collapse when the three-year old agreement.

#China #Oil & Gas #Covid19 #OPEC #Oil Price #Russia

Oil price declines and the impact on China’s energy complex

12 Mar 2020 - Stephen O'Sullivan

Oil prices have been steadily declining in recent weeks as the impact of the coronavirus on energy demand in China and the rest of the world has become evident. This slide accelerated significantly at the beginning of.

#China #Oil & Gas #Covid19 #OPEC #Oil Price

Medium-term demand outlook bright, short-term very weak

28 Feb 2020 - Stephen O'Sullivan

The medium-term outlook for China’s gas demand remains bright. Most observers – companies, governments, consultants - see gas as a replacement for carbon-intensive coal in China’s energy mix or, at worst, as a bridge.

#Energy #Oil & Gas #Covid19

China focuses on increasing gas output in an era of trade wars

13 Feb 2020 - Stephen O'Sullivan

  Faced with rising gas demand – albeit now rising at a slower pace - China has been seeking to boost domestic gas production to stem its growing dependency on imports. Given the ongoing trade war with the US, energy.

#Trade War #Energy #Oil & Gas

Slowdown in Chinese gas demand growth linked to changing power

23 Jan 2020 - Stephen O'Sullivan

It’s the money, honey China’s gas demand growth has risen steadily – and rapidly – in recent years. There was particularly strong growth in 2017 and 2018 as the government’s coal-to-gas switching programme drove demand.

#China #Energy #Oil & Gas

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