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22. The New Rules of the Game: Unfolding the targeting of an Israeli oil tanker in the Arabian Sea
- Author:
- FARAS
- Publication Date:
- 08-2021
- Content Type:
- Policy Brief
- Institution:
- Future for Advanced Research and Studies (FARAS)
- Abstract:
- On Friday, July 30, Iran targeted the Mercer Street oil tanker in the Northern Arabian Sea off the Omani port of Duqm, which was on its way from Dar es Salaam in Tanzania to Fujairah in the UAE, killing two crew members: a British and a Romanian. The Israeli ship was attacked by one or more drones. The attack came in two waves. The first wave was the bombing of the tanker with missiles carried by a normal drone. As the damage was limited, a larger suicide attack was launched on the dormitories of the ship's crew, with the aim of causing casualties, which actually resulted in the deaths of a British and a Romanian. The oil tanker belongs to the London-based Zodiac Maritime company, which is part of the Zodiac company owned by Israeli businessman Eyal Ofer. This is the second attack within the month of July, as the first one took place on July 3, targeting Csav Tyndall, which is also owned by Eyal Ofer.
- Topic:
- Oil, Conflict, Crisis Management, and Trade
- Political Geography:
- Iran, Middle East, Israel, and Persian Gulf
23. Oil in the Age of Biden: U.S.-Middle East Energy Relationships Under a New Administration
- Author:
- Ruba Husari, Samantha Gross, Gerald Feierstein, and Jean-Francois Seznec
- Publication Date:
- 02-2021
- Content Type:
- Video
- Institution:
- Middle East Institute (MEI)
- Abstract:
- One of President Biden's most ambitious campaign promises is centered around American energy policy. Biden has vowed to shift away from a traditional focus in oil toward investments in renewable energy sources. Meanwhile, the oil industry in the Middle East is already facing severe repercussions from the coronavirus pandemic. States like Iraq, Saudi Arabia, and Lebanon are struggling to replace oil revenue, cutting social benefits and worsening social unrest in the process. Oil has been the economic backbone on which the U.S. and nations in the Middle East have built diplomatic relationships and maintained mutual security interests. How will these crucial bonds be affected by a greener Biden presidency?
- Topic:
- Diplomacy, Energy Policy, Oil, Pandemic, and Joe Biden
- Political Geography:
- Iraq, Middle East, Saudi Arabia, and United States of America
24. Curse or Blessing? How cheap oil influences conflict dynamics
- Author:
- Matteo Ilardo
- Publication Date:
- 03-2021
- Content Type:
- Policy Brief
- Institution:
- European Union Institute for Security Studies
- Abstract:
- When the price of oil goes down, there is often a sigh of relief among oil-importing countries, as cheap oil means a boost for the economy and increased savings for consumers and businesses. As a result, most of Europe tends to notice price shocks only when prices go up: consumers are squeezed while producers accumulate enormous wealth. Yet, for oil-exporting countries cheap oil means increased poverty and tighter budgets – a recipe for instability and conflict. This Conflict Series Brief analyses the effects of the recent pandemic-induced oil price shock on three vulnerable, conflict-affected countries. This is done by testing the two competing theories of the resource curse and of the rentier state, each offering a different interpretation of the oil-conflict nexus: The resource curse theory posits that an abundance of natural resources, and in particular oil, raises the probability, frequency, and intensity of conflict. The rentier state theory sees the presence of oil as having a positive effect on peace, as regimes use revenues to either buy off political opposition or suppress it. The recent price crash and its effects on conflicts in South Sudan, Libya and Iraq provide empirical support to the analysis. This Brief argues that both the stabilising and destabilising mechanisms identified in the two grand narratives are simultaneously at play in oil-rich countries. It shows that oil prices occupy a central role in determining which theory provides the most accurate outcome prediction. As a result, we hope to get a better understanding of the often-counterintuitive role that the resource plays in the onset of civil war. Building on the experience of the 2020 pandemic price plunge, the Brief ends with an overview of the future challenges that cheap oil will entail for producers and for Europe as oil demand peaks and the world moves away from fossil fuels.
- Topic:
- Civil War, Energy Policy, Oil, War, Natural Resources, and Conflict
- Political Geography:
- Africa, Middle East, and North Africa
25. National Oil Companies and Energy Transition in the Middle East and North Africa
- Author:
- Laury Haytayan, Patrick Heller, David Manley, and Ben Potter
- Publication Date:
- 02-2021
- Content Type:
- Policy Brief
- Institution:
- Natural Resource Governance Institute
- Abstract:
- As the world looks toward an energy future that is less reliant on fossil fuels, governments in the Middle East and North Africa (MENA) region must adapt. The petroleum sector is a major employer in the region, the primary source of fiscal revenue, the dominant generator of exports and the source of energy that powers economies. With the pace of energy transition uncertain, a growing number of oil companies are revising downward their long-term assumptions about fossil fuel consumption and prices, and private capital has been progressively moving away from the sector. This transition creates opportunities for cleaner and more reliable energy for citizens in the MENA, a region rich in renewable energy potential. MENA governments and their national oil companies (NOCs) recognize the need for adaptation. Several countries have launched vision statements or reform plans aimed at diversifying NOC portfolios, increasing efficiency and reducing their exposure to market decline. This briefing derives from in-depth research and interviews on the challenges and reform plans of three MENA NOCs (Saudi Aramco, Qatar Petroleum and Algeria’s Sonatrach) and draws out implications for other NOCs in the region. The authors seek to inform the strategies of governments and NOCs on how to manage NOC portfolios and the evolution of state-NOC accountability mechanisms and hope that nongovernmental analysts and civil society organizations will use this briefing as a tool to help understand and scrutinize public reform plans.
- Topic:
- Energy Policy, Oil, and Natural Resources
- Political Geography:
- Middle East and North Africa
26. Qatar Petroleum and the Extractive Industries Transparency Initiative: Implications for State Companies in the Middle East and North Africa
- Author:
- Kaisa Toroskainen
- Publication Date:
- 04-2021
- Content Type:
- Policy Brief
- Institution:
- Natural Resource Governance Institute
- Abstract:
- In many resource-rich countries, state-owned enterprises (SOEs) play a major role in collecting taxes and payments, selling oil, and contributing to government revenue from extractive industries. In the Middle East and North Africa (MENA) region, SOEs often control the end-to-end value chain of extraction. This briefing explores how becoming an Extractive Industries Transparency Initiative (EITI) supporting company can facilitate transparency of SOEs from non-EITI implementing countries in the MENA region. The EITI is a global standard to promote the open and accountable management of extractive resources. Fifty-four countries currently implement the EITI and commit to a set of disclosures along the extractive industry value chain as defined in the EITI Standard. Beyond national EITI implementation, extractive companies can become EITI supporting companies by committing to a set of expectations to advance sustainable development, transparent management of natural resources and by supporting the initiative financially. In this briefing, the author has provided an overview of how becoming an EITI supporting company has supported Qatar Petroleum (QP) in improving reporting and transparency, with a view of providing relevant lessons to the EITI and other SOEs in the MENA region. The briefing concludes with recommendations to the EITI, QP and other SOEs in the MENA region.
- Topic:
- Oil, Natural Resources, and Industry
- Political Geography:
- Middle East, North Africa, and Qatar
27. Re-Thinking Assumptions for a 21st Century Middle East
- Author:
- Douglas A. Ollivant
- Publication Date:
- 04-2021
- Content Type:
- Special Report
- Institution:
- Foreign Policy Research Institute (FPRI)
- Abstract:
- American policy in the Middle East is based on outdated assumptions. There are at least four novel elements in or impacting the Middle East that require an adjustment in strategy: North American Oil Independence: The United States no longer relies on the Middle East for its supply of energy and could choose to act without that significant tie. Rise of China: The People’s Republic of China is now a near-peer to the United States and is taking steps to protect its own interests in the Middle East. Diminishing Conventional Threats to Israel: All conceivable regional enemies are now peace signatories, wrestling with internal instability, or both. Unconventional threats continue to challenge Israel’s security, but a ground invasion is now a remote possibility. Rise of Sub-State Actors: In addition to widely recognized terror and insurgent groups, other actors, such as financial firms, technology firms, and private military firms, interact with power that rivals that of weak states. These new factors—alone and in concert—make legacy strategies at least suboptimal, if not unsuitable. Today’s Middle East exhibits very different characteristics than that of the Middle East of the past century. An acceptable and suitable strategy must incorporate these new data points.
- Topic:
- Foreign Policy, Oil, Non State Actors, Geopolitics, and Strategic Competition
- Political Geography:
- China, Middle East, Israel, North America, and United States of America
28. 2021 Resource Governance Index
- Author:
- Natural Resource Governance Institute
- Publication Date:
- 12-2021
- Content Type:
- Special Report
- Institution:
- Natural Resource Governance Institute
- Abstract:
- Decisions about how the oil, gas and mining sectors are governed determine the wellbeing of the billion people living in poverty in resource-rich countries. Where policies and practices ensure informed, inclusive and accountable decision making, natural resources can enable fair, prosperous and sustainable societies, rather than undermine them. The climate crisis, the coronavirus pandemic and dramatic changes in global energy markets have increased the stakes of good governance. Complex decisions about how to enable the political and economic adaptations necessary for a managed phaseout of fossil fuels and responsible increase in production of transition minerals sit at the heart of this dual crisis. Governance of the oil, gas and mining sectors will play a central role in the transition away from fossil fuels and the return to progress against poverty. The Natural Resource Governance Institute (NRGI) produces the Resource Governance Index (RGI) as a diagnostic tool to measure the governance of oil, gas, and mining sectors in select countries and to highlight opportunities for policy and practice reforms at the global, regional and country levels. The 2021 RGI assesses the governance of extractive sectors in 18 countries, including both established mineral and hydrocarbon producers, as well as new and prospective entrants to natural resource production.
- Topic:
- Oil, Natural Resources, Governance, Gas, Mining, Sustainability, and Inclusion
- Political Geography:
- Uganda, Africa, Central Asia, Middle East, Mongolia, Colombia, South America, Azerbaijan, Lebanon, Tanzania, Mexico, Senegal, Nigeria, Morocco, Qatar, Tunisia, Peru, Ghana, Guinea, Guyana, and Democratic Republic of Congo
29. 2021 Resource Governance Index: Lebanon (Oil and Gas)
- Author:
- Natural Resource Governance Institute
- Publication Date:
- 11-2021
- Content Type:
- Policy Brief
- Institution:
- Natural Resource Governance Institute
- Abstract:
- Assessed for the first time, Lebanon’s governance of its nascent oil and gas sector scored 53 out of 100 points in the 2021 Resource Governance Index. While Lebanon is not yet an oil and gas producer, its government has begun to establish an institutional framework to govern the sector before production begins. Lebanon received a “satisfactory” score of 73 points in terms of its ability to realize value from its sector according to the RGI, with the Lebanese Petroleum Administration (LPA) displaying signs of best practice in terms of extractive sector transparency. Nonetheless, “weak” revenue management and a “poor” enabling environment are causes for concern for the future of Lebanon’s resource governance.
- Topic:
- Corruption, Oil, Natural Resources, Governance, and Gas
- Political Geography:
- Middle East and Lebanon
30. Oil and Gas in Lebanon: Time to Rethink Expectations
- Author:
- Aaron Sayne and Laury Haytayan
- Publication Date:
- 11-2021
- Content Type:
- Policy Brief
- Institution:
- Natural Resource Governance Institute
- Abstract:
- Lebanon’s hopes of “entering the club of oil producers” have not materialized. After almost a decade of high expectations, the country still has no proven reserves of oil or natural gas. Instead, the one well drilled so far, by partners Eni, Total and Novatek, revealed only trace amounts of gas. Now the government has extended the companies’ deadline to explore until August 2022 and has postponed a second oil and gas licensing round. Lebanon needs a new, more realistic vision of what oil and gas can do for it. For years, politicians in Beirut have told the public that exporting fossil fuels would transform the country’s failing economy, and that generating electricity from gas would turn around its mismanaged power sector. In this briefing we do not try to predict the future—especially considering how fast conditions on the ground are changing. Instead, we offer an evidence-based warning about the wisdom of Lebanon staking its economic or energy future on oil and gas. The conclusions and observations are based on analysis of the current situation and on the experiences of fossil-fuel dependent countries and other prospective new producers. The current moment, though very painful, offers the country a chance to build a new energy strategy that it can start to implement when its economic and political fortunes improve. This strategy should realistically and sustainably meet people’s needs, rather than make them worse.
- Topic:
- Oil, Natural Resources, Gas, Economy, and Fossil Fuels
- Political Geography:
- Middle East and Lebanon