Energy transition risks political strife in oil-producing states: report

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Energy transition risks political strife in oil-producing states: report



The transition towards green energy imperils เล่นสล็อตเเจ็คพ็อตเเตกง่าย oil-producing states that have
lagged in diversifying their economies, United Kingdom-based risk consultancy Verisk Maplecroft
warned in a report on Thursday.

"Algeria, Iraq and Nigeria will be among the first casualties of a slow-motion wave of political
instability that will engulf an array of oil producing countries over the next 3-20 years as the energy
transition takes hold," it said.

Other states facing the greatest risk include Angola, Gabon and Kazakhstan, it added.

"With the move away from fossil fuels accelerating, and COVID-19 levelling out any gains oil made
over recent years ... time is running out for a number of countries that have failed to diversify their
economies away from exporting fossil fuels."

The outlook for the oil price by mid-century is deeply uncertain, Verisk Maplecroft said, and could lie
within a broad range of anywhere between around US$48 to US$95 a barrel. Brent crude is currently
trading around US$63 a barrel.

The U.S. Energy Information Administration offers an even wider spread, predicting in its annual
energy outlook last month a 2050 oil price of anywhere between US$48 and US$173 a barrel.

Though low-cost Gulf Arab oil producers are best placed to capture market share, they will not be
immune from future shocks: a prolonged downturn in prices could eat into foreign exchange reserves
and domestic spending, undermining stability, the report said.
 
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