Russia

Energy security in Europe—and globally—now rests on US natural gas exports. Europe’s shift from Russian gas to other supplies has dramatically and permanently changed global gas trade and energy markets.

After Russia started a war in Ukraine, oil prices increased and brought in higher oil export revenues in the short run. Longer term, things are looking rougher.

The drop in Russian fossil fuel exports after its Ukraine invasion will transform the global energy landscape for decades and can help hasten a green energy transition, the International Energy Agency said.

The reduction is the largest OPEC+ has made since April 2020, but it may translate to a cut of only 1.1 million B/D because of underproducing members.

The largest pipelines connecting Russia and Europe appear to have been destroyed on the same day.

The Russian/Ukrainian conflict has shown that a division between energy-transition rhetoric and reality can lead to profound global consequences by creating an imbalance in nations’ access to diverse flows of energy. The Energy Basket composition is determined by the demands and fluidity of the grid, as opposed to high-minded rhetoric.

After showing an unexpected degree of resiliency, the brunt of embargoes and economic contraction are set to impose yet another big hit to Russia's output.

The license covers exploration and development of area fields for next 27 years.

Europe is providing a stark look at the vagaries of geo- and energy politics and how quickly complacency can be shattered. Will its lessons learned be heeded by the rest of the world?

As the world tries to shift to renewable energy, the war in Ukraine has underscored the struggle for the minerals and metals required. The conflict illustrates that nations that pursue net-zero strategies will have to contend and account for “greenwalls,” energy-transition deterrents created by crises or geopolitical events.