In September 2021 Côte d’Ivoire announced the country’s first large-scale oil and gas discovery in two decades. The discovery was made by Italy’s Eni in Block CI-101 on the Baleine prospect, some 60 km off the coast on the Gulf of Guinea. According to initial estimates, the discovery is thought to total 1.5bn-2bn barrels of oil and 1.8trn-2.4trn cu feet of natural gas. This...
After opening 2022 at around $78 per barrel, Brent crude 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 midMarch. Although investment in oil and gas has fallen by about 30% since the outbreak of the pandemic, there are signs...
In November 2021 Bahrain became the third GCC member, after the UAE and Saudi Arabia, to commit to reaching net-zero carbon emissions by 2060. Although its current emissions amount to a fraction of those emitted by its neighbours, climate change poses a very real threat to the kingdom. Modelling carried out in 2017 showed that a rise in sea levels of 1.5 metres would see...
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....
Oil was first discovered in Bahrain in 1932, making it the oldest oil-producing market in the Gulf region. After several years of stasis due to the Covid-19 pandemic, the kingdom’s energy industry is seeing a renewed pace of activity. Though Bahrain does not produce as much oil as its larger neighbours, the energy industry remains a vital part of the national economy. This has...
In the years since 2015, when gas production was low and Egypt had to rely on imports to meet its needs, the government has implemented policies to boost oil and gas output at home. The 2017 Law for Gas Market Activities Regulation helped the authorities attract greater international investment in the offshore segment, and this was further supported by the establishment of the...
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