Podcasts - Oxford Institute for Energy Studies

In this latest OIES podcast, Hasan Muslemani speaks to David Phillips and Tom Merriman about the role of insurance in enabling Carbon Capture and Storage (CCS) development. The discussion explores insurance's role in managing CCS risks, attracting investment and supporting deployment, and examines existing insurance solutions and remaining gaps across the CCS value chain.

The podcast further highlights financial uncertainty and complex liabilities, particularly in shared infrastructure and long-term storage, and discusses government support and public-private risk sharing in enabling CCS projects. It also emphasises operational experience and clearer risk allocation to strengthen commercial viability, and identifies greater industry collaboration and insurance innovation as priorities for scaling up CCS.

In this latest OIES podcast from the Electricity Programme, Anders Hove talks to Dimitra Apostolopoulou about her latest paper, co-authored with Rahmat Poudineh, titled "Tariff Design in the Energy Transition: Reallocating Costs, Risks, and Technological Advantage". They discuss how electricity tariff design needs to evolve as households increasingly adopt electric vehicles, rooftop solar, batteries and smart technologies. The conversation explores what it means for tariffs to be "cost-reflective" and why two households consuming the same amount of electricity can impose very different costs on the system depending on when and how they use it. Using practical examples, Anders and Dimitra examine the difference between charging an EV during the evening peak and smart charging overnight, how households with rooftop solar can export electricity while still relying on the grid at critical times, and how tariff design can shape incentives to invest in solar, batteries and other flexible technologies. They also consider the important question of which costs should be recovered through electricity bills. Finally, they look to the future, discussing why electricity bills may need to reflect not only how much electricity we consume, but also when we consume it and how much capacity we require from the grid at critical times.

In this latest episode of the OIES podcast, the OIES China Energy Programme's Michal Meidan and Anders Hove discuss the recent Trump-Xi meeting; China's response to the Iran war and their latest analysis of the country's 15th Energy Five-Year Plan. Energy security runs through all three topics. They assess the limited energy deliverables emerging from the US–China summit; examine whether China's electrification and clean-energy exports are materially insulating global oil markets from geopolitical disruption; and consider the scope for Chinese exports of refined products to alleviate tightness in global markets.

On the Five-Year Plan, Michal and Anders unpack its central themes of security and integration, from electrification, oil substitution and domestic supply-chain resilience to renewable integration, flexibility, distributed solar and power-market reform.

In this latest OIES podcast, from the Energy Transition programme, James Henderson talks to Martin Lambert and Alex Barnes about their articles in the latest Oxford Energy Forum on the topic of the development of a hydrogen market. We start with an assessment of the key policy instruments being used by governments to encourage hydrogen develop before moving onto three different examples of subsidy schemes being used in Europe – the European Hydrogen Bank, the UK's Contract for Difference auctions and the H2Global two-sided auction being used in Germany. Martin reviews the progress with each of these and assesses their strengths and weaknesses before Alex argues for a broader model under which governments support projects according to the actual emissions which they avoid, rather than just subsidising the cost of hydrogen supply. He argues that that would result in a more logical economic and environmental outcome and would protect customers from the risk of changes in government policy around carbon taxes. In this way demand for hydrogen would be more bankable for the long-term, and would create a more realistic foundation for the development of the entire hydrogen value chain.

In this latest OIES podcast, from the Gas Programme, James Henderson talks to Jack Sharples and Mike Fulwood about their recent research on the impact of the closure of the Strait of Hormuz on global LNG trade and the prospects for gas storage in Europe over the winter of 2026/27. The podcast starts with a review of flows of LNG out of the Gulf and the impact of the latest military action in the region, with a focus on when and if significant LNG can flow from Qatar and the UAE again. We also look at the development of alternative sources of LNG supply as well as the demand response in Asia, before turning to the impact on Europe and the increasing concerns over the levels of gas in storage ahead of the coming winter. We review injection rates to date, discuss the likely inflows over the next two months and assess the possible impact of various weather scenarios through to April 2027. We then conclude by taking a medium-term look into next year and assess the likely availability of LNG as well as the key sources of demand, including European storage which could be at very low levels by the end of winter.

In this latest OIES podcast, from the Gas Programme, James Henderson talks to Aliaksei Patonia about the latest edition of the Oxford Energy Forum which looks at the changing perceptions around the future of hydrogen. The overarching theme of the Forum, and the podcast, addresses the problem of bankable demand for hydrogen and how firm offtake agreements can be signed to secure the future of the fuel across the entire value chain. As well as discussing specific sectors, we also look at different regions with a specific focus on China and Europe. The Chinese example is discussed in detail to see if there are indicators for development in other parts of the world, while the question in Europe is whether the sector is being developed in the correct order, with a risk of infrastructure overbuild. From a sectoral perspective, the refining sector is seen as a potential foundation for the initial offtake of clean hydrogen, while green steel also has significant potential. The question of government support is also analysed, with discussion around appropriate subsidisation of the industry and the correct allocation of risk between the various players in the value chain. Finally, the issue of hydrogen as a tradeable commodity is addressed, looking at the key stepping stones towards the development of an internationally traded market.

The signing of the MOU between Iran and the US on June 17 was expected to bring greater clarity and stability to oil markets. Instead, the past few months have brought increased uncertainty around the Strait of Hormuz, the trajectory of oil flows and the broader market outlook. In this podcast, Bassam Fattouh talks with Paul Horsnell about the latest developments in global oil markets. They discuss:

• Whether the current "no agreement, no war" situation represents a relatively stable equilibrium or a temporary pause before tensions escalate further.
• The significance and sustainability of emerging trading practices in the Gulf, including shuttle services, ship-to-ship transfers and increasingly opaque trading channels, and what these developments mean for oil flows through the Strait of Hormuz.
• How the depletion of strategic reserves, commercial stocks and other market buffers could shape the next phase of the oil market adjustment, and whether rising crude prices reflect the diminishing effectiveness of these buffers among other factors.
• Why market stress has been more pronounced in refined products, particularly middle distillates, and how refining constraints, crude availability and oil demand are interacting.
• Whether the recent weakness in oil demand reflects structural changes in consumption or temporary demand rationing caused by supply constraints, and the potential for demand to rebound as supply conditions improve.
• The reasons behind the wide divergence in expectations for oil-market balances in 2026 and 2027, including the timing and scale of a potential surplus.
• The key areas of uncertainty on the supply side, including the recovery of Gulf production, UAE output and OPEC policy, US shale production and other sources of supply.
• The key developments and indicators to watch through the end of 2026 that could reshape oil-market balances, prices and the broader market narrative.

In this latest OIES podcast from the Electricity Programme, Dimitra Apostolopoulou talks to Valeria Karina Moreno, OIES-Aramco Fellow and PhD candidate at Comillas Pontifical University, about her latest paper co-authored with Rahmat Poudineh titled "Reshaping the Consumer-Energy Relationship through AI: Opportunities, Risks and Regulatory Outlook". In this podcast, we start by defining what AI in energy actually means and the benefits it offers households. We continue exploring specific applications where evidence shows value creation, and we discuss some challenges in which automation could lead to unacceptable manipulation. We elaborate on the need for an AI-enabled system to be inclusive and transparent to build trust. Last, we finish off with some thoughts on what a "good" AI-enabled system would look like.

In this latest OIES podcast, from the Gas Programme, James Henderson talks to Patrick Heather about his latest paper on European Gas Hubs. Patrick talks us through his latest survey on trading activity on European Gas Hubs, highlighting the key elements that he analyses and the main indicators which determine the success of the hubs. We discuss not only the main hubs, with TTF again being by far the dominant marketplace in Europe, but also look at the role of some of the smaller hubs and how they have been developing over time. We also consider the importance of the NBP in the UK, given the country's increasing role as a route for LNG imports to the continent. The importance of TTF in a European context has started to be mirrored on the global gas market, and Patrick discusses how it has become an increasing important benchmark for pricing across the world. We also look at how the change in gas flows across the continent following the decline in imports for Russia has affected trading levels and pricing trends, and also consider what future risks might exist for the European market, in particular if governments try to interfere with the market for security of supply reasons.

In this latest OIES podcast from the Electricity Programme, Dimitra Apostolopoulou engages in a discussion with Tim Schittekatte, a Senior Director at FTI Consulting and a part-time professor at the Florence School of Regulation, about his latest paper titled "Time-Varying Electricity Pricing is a Powerful Tool – But Without the Grid in the Loop, It Risks Going Off The Rails" which was part of the recent Oxford Energy Forum on Electricity Prices and the Energy Transition: Economic Efficiency, Social Equity, and Climate Alignment. The discussion centres on Tim's research, which examines how dynamic retail rates can help balance renewable energy supply and demand while lowering consumer costs. However, without integrating grid capacity into these pricing models, a localised surge in usage, such as mass electric vehicle charging, could overwhelm the distribution network. To address this, we need to compare different pricing methods and their impact on economic efficiency and social equity. Ultimately, the dialogue emphasises that future market designs must align financial incentives with the physical realities of the power system to ensure long-term stability.