Growing demand for petroleum-based products in every corner of the globe has generated a need to accelerate the process to locate and recover the supply of oil and natural gas from major reserves across the globe. However, the fact that supply and demand are rarely concentrated in the same place, caused an urgent need for economical, reliable, and efficient means of transportation for oil and gas supplies.
The Russia-Ukraine war has upset the world. Dramatic effects are seen in all fields. The war has exacerbated supply and demand tensions, damaging consumers everywhere and threatening global economic growth.
As the Ukraine crisis is increasing the West’s need for energy from other sources than Russia. Many experts refer to Iranian energy resources as a potential solution to the current energy crisis and a factor that can stabilize the fluctuated oil markets.
The oil industry is known to be a global game where what happens in political and economic scenes impacts the price of oil. However, with prices of the oil barrel passing $100, the black gold may emerge as a gamechanger itself in the economics and geopolitics of the world.
Bushed by rising demand and uncertainty created by the Russia-Ukraine war, oil prices soared to record high. Many experts believe that these higher prices are likely to stay, for a while at least.
The drums of war are beating louder in Europe as the West is accusing Russia of amassing more than 100,000 soldiers on the Ukrainian border and has threatened unprecedented sanctions if Moscow invades the former Soviet republic.
While the defeat of the latest covid variant seems to be imminent, the oil and gas sector is regaining some confidence and vies for recovery in 2022. However, the sector still has several risks to watch for in the new year.
For many experts, this year's Conference of the Parties to the UN Framework Convention on Climate Change (COP 26) in Glasgow has been a failure. The event was highly awaited by observers with high expectations after the environment’s sharp warnings that came in a form of strong floods, forest fires, storm damage and heat waves that hit different parts of the world.
A global energy crisis is looming as European gas prices hit record highs amid tight supply and increasing demand by economies recovering from the COVID-19 pandemic.
With the Taliban’s swift takeover of Afghanistan after a chaotic and tragic US withdrawal, images of civilians fighting desperately to board planes leaving the airport raised questions about the future waiting for the Afghan people after the return of the radicals to rule the country.
Anew landmark UN report warned this month that human activity is changing the climate in unprecedented and, in many cases, irreversible ways.
