The Russian invasion of Ukraine has had far-reaching consequences on the global energy market. The EU’s dependence on Russian natural gas has been laid bare since the start of the invasion and efforts to diversify energy supplies are being accelerated at an unprecedented rate in Europe. The implications of the Russian invasion of Ukraine on...
The Russian invasion of Ukraine has resulted in a global increase in oil prices. Towards the end of February 2022 when Russia invaded Ukraine, oil prices went above $100 per barrel for the first time since 2014 [1]. In South Africa, the price of petrol increased by R1.86 to R21 per litre in March 2022...
The effects of the Ukraine crisis on Saudi energy policy and practices are maintenance of the same oil production volumes in the near term and diversifying their sales markets in the long term. Saudi Arabia has so far rebuffed U.S. calls to increase production to compensate for the withdrawal of Russian oil for technical and...
Since the beginning of the invasion of Ukraine, the Russian government has submitted to the State Duma of the Russian Federation a package of relevant legislative initiatives as part of the Priority Action Plan to ensure the development of the Russian economy in the face of external sanctions pressure.[1] It provides for the postponement of...
The unprovoked Russian invasion of Ukraine has had obvious ramifications to the country of Ukraine and its people. In addition to that, the conflict has also had significant ramifications on the rest of the world, and Nigeria is no different. Specifically, the conflict has and will have a major impact on climate policies and practices...
The Russian invasion of Ukraine and the European Union’s dependence on Russian natural gas demonstrate that energy supplies’ diversification is critical to establishing energy security. The European Union is dependent on Russian natural gas, and that dependency has forced the United States and Europe to maintain, until now, loopholes in their otherwise harsh economic sanctions...
Japan is largely dependent on imports from abroad for oil and gas. According to the Japan External Trade Organization in 2021, Russian crude oil and LNG accounted for 3.6% and 8.8% of its imports, respectively. While not nearly in the same range as the dependency of European nations on Russian fossil fuels, the amounts are...
Russia’s continuing war on Ukraine has begun to show its ripple effects on India’s fuel and energy markets, with global crude oil prices shooting past the $100 (Rs 7,527) a barrel (159 litres) accentuating the oil crisis in the country— the highest recorded since 2014. As the situation escalates between the two warring countries, the oil...
When Russian troops started a military invasion of Ukraine on the 22nd of February 2022, the world stood still and watched. Within a short time, the Ukrainian government mobilized its military troops and its nation and turned them into a force of resistance, hoping for international support. However, Ukraine until today is not a member...
As the invasion of Ukraine enters its second month, climate concerns have been temporarily usurped by energy security concerns. Russia is the world’s third largest oil producer and second largest gas producer. The European Union is Russia’s largest market, receiving seventy percent of the countries gas exports and half of its oil exports. As Europe’s...
