The China–Russia gas deal is nothing unexpected. It is merely business and another step for the two powerhouses towards conquering the challenges of energy security. Those with insecurities must simply grin and bear it. Perhaps more significantly, it allows for the delay in Sino–Russian exploration of offshore Arctic energy reserves — an environmentally hazardous endeavor.
Central Asia’s share of the world’s reserves of natural gas is somewhat higher at 11 per cent; still, it falls short of the Middle East’s share, 43 per cent. Hydrocarbon rents have enabled the authoritarian regimes in Central Asia to provide the welfare services that ensure their populations’ acquiescence in their government.
As families in the United States steel themselves for the possibility of another sweltering summer with rolling blackouts triggered by high demand for air conditioning, it’s a good time to remember that many families throughout Africa work and live in buildings with no electricity. In areas that do have the utility, frequent power outages are a constant reminder of the …
When Americans talk about ‘energy independence’ they are talking about oil and the Middle East. Forecasts that the US may become close to energy self-sufficient in net terms by 2035 have once again made this verbal icon of US energy policy a popular ‘sound bite’. But its use is both inaccurate and misleading, and without a seismic shift in American’s attitude towards …
International relations is witnessing the revival of oil and gas geopolitics as a decisive issue on the global political agenda. Rising demand, swelling energy costs and the ever-growing scarcity of resources has ushered in a new wave of competition for raw materials and energy reserves. Consequently, the European Union (EU) is attempting to systematically incorporate energy security into its …
According to “BP Statistical Review of World Energy, June 2013”, in 2012- Saudi Arabia had the second largest crude oil reserve (265.9 billion barrels) and the largest producer (11.53 million barrels per day) in the world. However, in mid-2012, a Citigroup analysis had been widely reported in the international media, which forecast that by 2030, Saudi Arabia will have no oil …
In recent years, the U.S. Geological Survey has estimated that the polar north may hold up to 13 percent of the world’s undiscovered oil resources*—potentially as many as 160 billion barrels—and as much as 30 percent of the world’s untapped natural gas supplies. With climate shifts in the Arctic raising temperatures and reducing sea-ice coverage, the region has become …
With attention focused on dramatic events in Ukraine, another anti-despotic uprising at the other end of the earth has not received the media treatment it deserves. And yet the struggle in this second battlefield for freedom, Venezuela, could have a greater impact on reshaping international politics. Democratic change in Venezuela could reverse the Leftist-autocratic trend that started in Latin America …
The IEA in its ‘World Energy Outlook 2008’ articulates that it costs between US$6 and US$28 to produce a barrel (bbl) of crude oil (in 2008 dollars) in the Middle East and North Africa. The range of production cost for other conventional fields is between US$6 and US39 per bbl. However, the production costs of deep/ultra-deep-water oilfields varies between US$32 …
Energy supply is a pressing concern in Pakistan as frequent crippling power outages are not only stunting its economic activities, but have caused a constant public outcry in recent years. The issue was one of the core agendas in the general elections held last year in the violence-hit country. The December 2013 verdict of the International Court of Arbitration (ICA) …