Venezuela has come back into focus as a potential supplier to the US
Letter from South America: Ukraine crisis brings opportunities and costs
While the region’s crude producers stand to benefit from high prices, LNG importers will feel the pressure
Russia’s invasion of Ukraine has—probably more than any event apart from Covid—shown how interconnected the world is in the 21st century. And as we have seen, there are few industries more exposed to the volatility created by the conflict than oil and gas. The war also shows how reliant the world still is on hydrocarbons and highlights the nature of the industry’s low demand elasticity. The perceived threat to supply caused by sanctions—and potential sanctions—was enough to send prices soaring to heights not seen in the last 15 years. In Latin America, big oil producers such as Brazil will fill their coffers because of sustained higher prices. As the US, and even Europe, impose sanctions on
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
