The global oil industry had yet to recover from the price crash of 2014-15 by the time the pandemic hit in early 2020, which meant that upstream operators and service providers were already grappling with cost-related challenges and falling profit margins.
Amid an attempt to drive a post-coronavirus economic rebound, a number of countries in the Gulf have introduced new immigration measures to help attract skilled foreign workers.
Backed by a high credit rating, advanced oil and gas production and storage capacity, and a deep sovereign wealth fund, Qatar was able to tap international debt markets to fund an effective economic response to the pandemic, while its relatively small population was well served by a modern health care system guided by clear government policy geared towards prevention as well as treatment.
As governments across West Africa prioritise their textile industries to drive post-pandemic recovery, a number of private sector initiatives are supporting the segment’s growth.
Despite the adoption of new technologies across a variety of industries prior to the pandemic, studies pointed to Trinidad and Tobago's dependence on cash as a significant factor limiting potential economic growth.
With hydrocarbons-rich countries in the Gulf increasingly looking to reduce their carbon emissions, some in the region are turning towards multi-coloured hydrogen as a more environmentally sustainable solution.
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