The Middle East’s NOCs are having to adjust their investment priorities to navigate the new world order. Contingency plans that were sufficient for the post-World War II international system have come under unprecedented strain, and while the region’s energy sector has shown remarkable resilience, energy security is at the heart of new investment plans.
The question of whether the Middle East could return to the pre-28 February status quo was ever-present at the Energy Intelligence Forum in London this week, with little optimism on that front. In sobering remarks, Shell CEO Wael Sawan told the conference that “the era of great power conflict is back with us…from an energy perspective, the stability that we had seen in the past few decades is being challenged.” (CONTINUED - 1575 WORDS)
