Energy

The vast reorganization of fiscal policy in the Gulf Arab states has upended decades of practice in cyclical government spending tied to oil revenue.

It is increasingly clear that energy resources and revenues alone cannot sustain Gulf Arab economies and societies for the long term. So, the quest for economic diversification is an overriding imperative and is a paramount economic, social and national security challenge. Therefore, two of the biggest challenges facing the United Arab Emirates and other Gulf...

The aggressive restructuring of the Abu Dhabi National Oil Company is moving at a break neck pace, essentially rewriting its ambitious energy playbook in less than two years. In November alone, ADNOC signed oil and gas contracts worth at least $10 billion, announced plans to increase refining capacity by almost two-thirds and triple petrochemical production,...

OPEC ministers are set to mark the one-year anniversary of their historic production pact with their non-OPEC counterparts on November 30 with oil prices up by a sharp $10 per barrel (/bbl) on average so far this year and oil revenue higher by a significant 25 percent, far outpacing the relatively modest supply cuts by...

On September 25, 2017, speakers and discussants from the oil industry, finance, government, and academia convened in Washington to examine the challenges of navigating the new oil era at the third annual Petro Diplomacy conference.

Geopolitical tensions in Iraq and Iran are supporting already strong oil markets led higher by seasonally robust demand and production cuts by the OPEC and non-OPEC alliance. The crisis in Iraq sparked by the Kurdistan Regional Government’s independence referendum has de-escalated following Baghdad’s swift takeover of the Kirkuk province from KRG forces but oil exports...

The Kurdistan Regional Government’s (KRG) controversial referendum on independence has sparked fears of a disruption to Iraq’s northern oil exports amid a firestorm of opposition from the central government in Baghdad, neighboring Turkey and Iran, as well as Western powers. Global oil prices scaled two-year highs last week on concerns that the backlash against the September 25 referendum...

The international oil industry is in the midst of writing a new chapter in its long-storied history, with a massive restructuring underway to meet the challenges of a new lower oil price world. For its third annual conference, AGSIW brought together experts from the oil industry, finance, government, and academia to discuss critical issues facing...