The economy of Kuwait has long been underpinned by the production and export of crude oil. Although the rise in energy prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic, which preceded the commodity price boom, underscored the risk of over-reliance on an industry subject to fluctuating global demand. This has created fresh impetus for economic diversification, with robust public finances providing a strong platform to...
The energy transition continued apace in 2022 despite Russia’s invasion of Ukraine, ongoing disruptions to global supply chains and inflationary pressures – all of which translated into high energy prices around the globe.
Countries around the world are turning to biogas and biomethane to enhance their energy and food security and jump-start their circular economies.
As the capacity to generate wind and solar power continues to expand around the world, hopes of accelerating the phase-out of coal as the leading source of electricity may depend on the expansion of a less discussed but equally important part of the energy supply chain: electricity grids.
With hydrocarbons-rich countries in the Gulf increasingly looking to reduce their carbon emissions, some in the region are turning to multi-coloured hydrogen as a more environmentally sustainable solution. Along with renewable sources like solar and wind, hydrogen is regarded as a potential low-carbon or zero-carbon fuel that is key to the transition away from fossil fuels....
After opening 2022 at around $78 per barrel, Brent crude oil prices rose sharply over the next few months to surpass $127 on March 8 – the highest price in 14 years, driven in part by Russia’s invasion of Ukraine – before moderating slightly to around $106 as of mid-March. Although investment in oil and gas has fallen by about 30% since the outbreak of the Covid-19 pandemic,...
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