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The OPEC’s proposed cut in oil production earlier this week may not enable the energy market to recover. Recovery is likely only after COVID-19 is brought under control, but there are ways India can capitalise on the current low oil prices for its own energy security
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The Coronavirus pandemic has caused crude oil prices to crash almost 40% even as Saudi Arabia and Russia pump more oil into the market. Fears are rife that this crisis will hit demand. There are repercussions on the U.S., the world’s top oil producer, on India, one of its new clients, and on the Gulf Cooperation Council countries
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India-Iran ties span culture, economics and geopolitics. Iran is one of India’s most important neighbours and must be viewed on its own standing, not through a Western prism. Gateway House has an extensive repository of research and reporting on Iran, ranging from India-Iran historical ties, Iran’s role in India’s energy security and the impact of U.S. sanctions on Iran and on India, which helps to better understand this crucial nation.
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Iran’s foreign minister Javad Zarif was in Mumbai on 16-17 January 2020, just days after the Iran-U.S. showdown in Iraq and the assassination of Iran’s top general. Zarif explained Iran’s dilemma to audiences in India and was hoping for public support. But the fact is that the January tensions are not Iran’s problem alone; it’s a global game-changer that has propelled the formation of new alliances
Courtesy: Atlantic Council
The Atlantic Council Global Energy Forum, held in Abu Dhabi on 10-12 January 2020, had the top businesses and analysts of the global energy industry. It was also part of a larger event, the annual Abu Dhabi Sustainability Week, which aims to be a global platform for sustainability in various industries
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Oil prices, arms exports and conflict are inter related especially when it comes to the U.S. Its arms industry grows when high prices and conflicts coincide. This has kept West Asia on a perennial geopolitical boil. This infographic charts the highs and lows of U.S. arms sales, especially in the light of conflicts centred around West Asia
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The rise in Saudi Aramco’s stock price within two days of its IPO in November 2019, has taken the company’s market value past the $2-trillion mark. This valuation should not be taken at face value for the offering is miniscule, and closely linked to the ruler's prestige rather than stock market fundamentals
Courtesy: Columbia University Press
This book examines concisely and readably how the discovery of oil and natural gas transformed the six oil kingdoms of the Gulf, but profligate energy consumption at home challenged the basis of this very prosperity. It goes on to look at how these countries dealt with the economic crises that struck them
Courtesy: Princess Nora bint Abdul Rahman University
The immediate panic in the aftermath of the missile attack on Saudi Aramco’s facility at Abqaiq underlines the still-critical role of the Kingdom to the world economy. The subsequent recovery of oil production – with no disruption – showed that Saudi Arabia is a reliable partner/guarantor of energy supplies. Our Energy and Environment fellow Amit Bhandari was in Riyadh recently for a conference, and describes a post-Abqaiq Saudi Arabia
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The attack on Saudi Aramco’s oil processing facility at Abqaiq has turned out to be less damaging than feared. It nevertheless holds lessons for India, which can begin securing itself against similar events in the future