Energy Market

The recent agreement between the United States and Iran could portend well for regional security—or it could reinforce existing divisions and promote further escalatory behavior from each side, with significant economic consequences in either case. The recently announced prisoner swap between the United States and Iran has spurred debates about how it …

Introduction Despite its abundant oil and gas reserves, over the last four decades Iran has not been able to play a prominent role in the global energy market. According to energy industry statistics, Iran requires at least US$160 billion in investment to continue to export its oil and natural gas. …

Iranian-Chinese economic relations have grown steadily closer over the past four decades, with Beijing emerging as one of Tehran’s leading trade partners in recent years. Their economic relationship entered a new phase in the 1980s, when China started providing Iran with arms and technology during the Iran-Iraq War. But since …

Introduction In a breakthrough deal, brokered by China, Saudi Arabia and Iran have agreed on the resumption of diplomatic relations and the mutual opening of embassies, a move that could change the balance of power in the Middle East and restore stability in the region. Under the agreement reached, the …

In February 2023, Uzbekistani President Shavkat Mirziyoyev announced an energy package valued at over $1 billion to ease the country’s heating and electricity needs (Tashkent Times, February 8). In this, while Russia is considered a key player in providing Tashkent with much-needed oil and natural gas products, Uzbekistan also hopes …

Key Points Azerbaijan’s energy transition is driven by several factors, including the country’s growing economy, increasing energy demand, and concerns about climate change.Azerbaijan has plentiful fossil fuel supplies used for export, but as there is a global move toward obtaining zero net greenhouse gas emissions, the country will need to …

As a “neutral” power seeking to distance itself from the Middle East’s various geopolitical rivalries, China has supported reconciliation and peace to stabilize its access to the region’s resources. The relationship between Iran and Saudi Arabia has been fraught with tension for decades, with each side accusing the other of interference in …

The Russian invasion of Ukraine has given Oman’s natural gas industry, long handicapped by relatively modest reserves and high extraction costs, a new lease on life. The global energy crisis caused by Russia’s invasion of Ukraine one year ago has underlined the centrality of LNG to Europe’s energy security. Since …

As Saudi Arabia has grappled with its Vision 2030 reform plan and its transition away from fossil fuels, one international partner of choice in the energy sector has emerged: the United States In recent years, many countries in the Middle East region have concluded that their continued economic dependence on …

After a year of unprecedented turmoil, global energy prices could return to a ‘new normal’ in 2023—or they could be further disrupted by ongoing or new political and economic crises. The full-scale Russian invasion of Ukraine in February 2022 led to major reverberations in energy markets around the world. In an attempt …