Tag "Oil"
Energy Transition in the European Union: Great Challenges and Opportunities
Transition towards low carbon energy systems remains to be a challenge for the European Union. Europe is faced with economic, social and environmental costs of having fragmented national energy markets despite the ambitious “European Green Deal” agenda of Von der Leyen’s Commission, which positions the EU as a leader in global climate action through comprehensive decarbonization policies. A net reduction target of minimum 55% from the EU’s greenhouse gas emissions was agreed on Wednesday 21st of April by European co-legislators under the framework for European Climate Law. Nonetheless, curbing GHG emissions necessitates regional concerted action for transition from fossil fuel economies to renewable energy based systems in order to face the transboundary effects of climate change.
COVID-19 and the green revolution: A new energy order in the making?
The pandemic has accelerated an ongoing switch towards greener energy, to the point that some foresee a “new energy order” in the making. But these calls are likely exaggerated, with traditional energy sources predicted to stay dominant.
Geopolitics and the Energy Transition: Competition or Cooperation?
Energy transitions have always represented watershed historical moments with profound and far-reaching geopolitical ramifications. Similarly, the climate change propelled shift from fossil fuels to renewable energy sources, is likely to have transformative effects on the geopolitical landscape of the twenty-first century.
Making History: Coronavirus and Negative Oil Prices
Since the beginning of the Coronavirus pandemic, there has been a loss of 1/3rd global demand – more than 30 million barrels per day (BPD). The virus instilled a level of uncertainty for oil traders, but the catalyst for the initial drop in price can be attributed to the escalating price war between Russia and Saudi for market share, eventually leading Saudi to flood the market with oil.
Saudi Aramco: Risks to Potential Investors
Saudi Aramco is now the world’s largest and most profitable company – valued at $2 trillion company. 1.5% of its stakes went public and are considered an attractive investment. However, multiple risk factors remain.
Khalifa Haftar’s offensive in Libya
Khalifa Haftar’s offensive on Tripoli, launched in April 2019, has been a setback. But the retired field Marshall is not finished.
Kurdistan Region stalls government formation
The last several years have been turbulent for the oil-rich Kurdistan Region. The local elections in September represented an opportunity to introduce some stability.
Maduro regime unfazed by condemnation
In a historic rebuke, five Latin American nations urged the ICC to investigate the regime of Venezuelan president Nicolas Maduro for human rights abuses. Though this public denunciation is noteworthy, the main external threat to the Maduro regime comes not from its neighbors, but from Beijing.
China and India establish “oil buyers’ club” to counter OPEC
Should this “oil buyers’ club” become a reality, New Delhi and Beijing will have greater leverage to negotiate with OPEC about oil prices and will also have a significant say in matters such as importing more crude oil from the US.
Pre-salt reserves make Brazil ripe for investment, but risk remains
On October 27, 2017, new auction rounds for the eight pre-salt blocks in Brazil were launched. As the Brazilian government approved a new regulatory framework for the bidding process to allow more investors, 14 foreign companies and two Brazilian entities were qualified to participate in the auction.
