Greater Gulf cooperation on hydrocarbons, as a part of balanced strategies incorporating climate protection, could manage some of these threats and promote longer-term cooperation solutions to problems facing the region’s critical economic sector.
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All tagged energy
Greater Gulf cooperation on hydrocarbons, as a part of balanced strategies incorporating climate protection, could manage some of these threats and promote longer-term cooperation solutions to problems facing the region’s critical economic sector.
The legacies of the Middle East’s major oil and gas pipelines offer important lessons for regional leaders hoping to integrate energy markets and infrastructure.
The scale of solar investments is far from shifting the GCC away from its heavy dependence on fossil energy and solar power is far less promising in the Arabian Peninsula than many outside observers might think.
A new report, citing data from Kpler, an analytics company, claims that Iranian oil exports to China will reach 1.5 million barrels per day this month, the highest level in a decade.
Central Asia faces rising demand for energy, spurred by population growth and climate change, but most of the region’s power generation and transmission infrastructure dates to the Soviet era.
The shared oil and gas fields in the Persian Gulf and Gulf of Oman are largely untapped areas for bilateral and multilateral cooperation.
Turkmenistan has long struggled to sell its enormous natural gas reserves to a diverse range of customers. With the country’s natural gas surplus expected to rise even higher in the coming years, increasing exports to Iran may be the best solution.
Iran’s oil exports are rising and the sector is growing for the first time in two years. The recovery poses a dilemma for Biden, who faces a growing constituency in Tehran unsure if there's enough to be gained should the US be allowed to rejoin the JCPOA.
◢ New data from China’s customs administration show a significant drop in purchases of Iranian oil. The declared value of September imports was just USD 254 million, down 34 percent from August and down 80 percent from the same month last year. But observed exports from Iran remain high, suggesting that the customs data is not capturing the full value of Iranian oil sales to China.
◢ The deadline for the US administration to decide whether to extend sanctions waivers granted to buyers of Iranian oil is now less than a month away, and President Donald Trump faces a tricky decision. He undoubtedly wants to increase pressure on the Persian Gulf nation, but in doing so he risks stoking oil prices and with them those all-important gas prices in swing states back home.
◢ Iran’s oil exports are likely to remain limited in 2019, with significant negative impact on Iran’s economy. Last month, the Trump administration reimposed sanctions on Iran’s energy sector as part of its ‘maximum pressure’ campaign against. But it nevertheless sought to prevent an unhelpful spike in oil prices ahead of the midterm elections. As a result the United States issued eight waivers to importers of Iranian oil:.
◢ The president’s recent statement that OPEC may have something to do with the president’s own decision to create a crisis with Iran. While attention is duly paid to how much Americans have to pay at the pump, a more subtle and complicated story will soon play out with respect to Iran and the reapplication of US sanctions ordered by Trump on May 8, 2018. In fact, unless oil prices are contained, the primary result of the president’s action may be to ensure that Iran profits from the oil market risks that sanctions have created.
◢ As the US chooses the "nuclear option" on Iran's oil, Europe must find leverage and force the US to walk back on its announced policy of driving down Iranian oil exports to zero. The negative consequences for European economy could prove significant, and the risks of regional escalation are high. There are three measures that the EU can pursue to pressure Trump and prevent a dangerous escalation.
◢ Europe’s Commissioner for Climate Action and Energy, Miguel Arias Cañete is set to travel to Tehran this weekend. Cañete’s visit will include discussions on possible new payment mechanisms designed to allow Europe to repatriate oil revenues to Iran’s central bank despite despite Trump’s withdrawal from the nuclear deal, offering a vital lifeline for the Iranian economy as sanctions begin to bite.
◢ The last Iranian year, which ended in March, saw several interesting developments for Iranian energy, both domestically and internationally. Despite persistent challenges, Iran is keen to build on the momentum of last year’s developments. In doing so, the question of whether the Trump administration will stay in the JCPOA and renew sanctions waivers on May 12 will have great importance.
◢ On Monday, Total will sign a long-awaited USD 5 billion deal to develop Iran's South Pars gas field, becoming the first international oil company to commit to a post-sanctions investment.
◢ The Total deal indicates rising confidence that political and banking challenges can be addressed, and the contract signing will likely buoy investor confidence across sectors.
◢ The recent extension of Iran's Feed-in-Tariffs scheme has renewable energy investors pushing to close deals in the next 12 months to take advantage of the strong government incentive packages.
◢ But FiTs won't last forever, and Iranian energy authorities are working to improve the general mechanisms that support foreign investment in Iran's renewable sector, including the use of Iran's first competitive bidding tenders for renewable energy projects.
◢ A preliminary agreement between OMV and Dana Energy heralds the push for privatization in Iran's oil and gas sector
◢ While the majority of contracts have been signed with state-owned oil firms, the new IPC framework enforces structures and management practices that support privatization
◢ The global energy industry continues to find greater value in efficiency and clean technology, with a rapidly growing reliance on renewable energy. But Iran lags behind.
◢ Now that Iran prepares to once again open doors to the international business community, the time is right for renewables to have a greater role in the country’s energy mix.