The oil market is showing concerns over weakening oil demand, and new Western sanctions on Russia have introduced an added element of uncertainty in a market already reeling from the repercussions of the Ukraine crisis.
The Arab Gulf States Institute in Washington's eighth annual Petro Diplomacy conference examined the upheaval in the oil and gas markets following Russia’s invasion of Ukraine and the role of Gulf Arab oil producing states in meeting the sudden demand surge.
Gulf states will have to reconcile their plans for increasing oil and gas production and investments in fossil fuels with their ambitious climate targets.
Europe is desperately seeking alternatives to Russian gas, but the Kurdistan Regional Government has some way to go before it can produce excess gas for exportation.
AGSIW's seventh annual Petro Diplomacy conference examined the energy transition and ways in which the Gulf petrostates are positioning themselves for a net-zero environment.
Energy transitions are by their nature disruptive, but the pandemic has introduced a risk factor that might play out for years to come.
Gulf actors will be paying close attention to the dispute to make sure it does not transition to more direct conflict that could further jeopardize regional stability and strategic Europe-Mediterranean-Africa market linkages.
Iran’s renewable energy potential is sizeable and underdeveloped, and it provides an opportunity for more fruitful international cooperation.
Through its careful examination of the forces shaping the evolution of Gulf societies and the new generation of emerging leaders, AGSIW facilitates a richer understanding of the role the countries in this key geostrategic region can be expected to play in the 21st century.Learn More