Summary: as peak oil approaches, two decades of diversification have left the UAE relatively well cushioned against the economic downsides. However, and despite MbS’s efforts, Saudi Arabia looks like having to play catch-up into strengthening headwinds.
Summary: the war-induced scramble for hydrocarbons and calls from the majors for more investment in oil and gas output should not distract from an ongoing seismic shift to renewables which may advance ‘peak oil’ to as early as 2025, a scenario that will give pause for thought and serious consideration in Gulf energy states.
Summary: with the appointment of the boss of the UAE’s national oil company to head up COP28, critics say it’s a sell out to big oil interests while others argue the choice of Sultan al-Jaber is a shrewd and positive move.
Summary: with the appointment of the boss of the UAE’s national oil company to head up COP28, critics say it’s a sell out to big oil interests while others argue the choice of Sultan al-Jaber is a shrewd and positive move.
Summary: although the fundamentals of Saudi relations with the US seemingly remain solid, the energy market’s current dynamics and longer-term prospects mean that Washington can no longer depend on Riyadh to bend to its will on oil output, thereby potentially putting in jeopardy the original cornerstone in relations.
Summary: Riyadh played a skilled hand at COP26 but may well discover very soon that the real threat to its petro-economy lies largely outside international forums.
Summary: the EU needs to move rapidly to achieve net zero by 2050 while the GCC needs to break its addiction to oil while facing its own severe climate challenges; green hydrogen promises a way forward for both.
Summary: Three ‘events’ in the coming weeks stand to have a significant impact on the timing of peak oil, with profound implications for Saudi Arabia in particular.
Summary: a hydrogen economy may be Saudi Arabia’s least bad hope for the future.
