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1. The Venezuela-Guyana Dispute over the Essequibo

Author:
Rafael Ramírez
Publication Date:
02-2024
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
The Essequibo[1] is a territory located in the North-East of South America, between Venezuela and Guyana, with a maritime projection towards the Atlantic. It has been part of Venezuela since 1777[2] under the rule of the Spanish Empire and then as the Republic of Venezuela since 1810. The United Kingdom illegally occupied it in 1814,[3] while Venezuela was going through a long and bloody war of independence. The UK tried to formalise the dispossession of the territory with the Paris Arbitral Award of 3 October 1899,[4] in a flawed process in which Venezuela was represented by the United States. The British Empire exercised its power to obtain a ruling in its favour. After the death of the lawyer Severo Mallet-Prevost in 1949, who represented Venezuela in this process, these irregularities became public knowledge.[5] In 1962, Venezuela denounced the nullity of the process before the United Nations and insisted on its historical claim.[6] On 17 February 1966, Venezuela and the UK signed the Geneva Agreement,[7] whereby the parties recognised the nullity of the Paris Arbitral Award and agreed to search for a negotiated solution. During this process, Guyana (independent since May 1966) would administer the Essequibo but without carrying out any activity that would modify the legal situation of the territory as established in Article V of the agreement, which states that “No acts or activities taking place while this Agreement is in force shall constitute a basis for asserting, supporting or denying a claim to territorial sovereignty in the territories of Venezuela or British Guiana or create any rights of sovereignty in those territories”. After four years, no progress was made in the negotiation, so on 18 June 1970, the two parties signed the Port of Spain Protocol,[8] to suspend the meetings for twelve years and to possibly use as an alternative one of the means of peaceful settlement provided for in the UN Charter.
Topic:
Oil, Territorial Disputes, History, and Borders
Political Geography:
South America, Venezuela, North America, Guyana, and United States of America

2. Is Colombia One Step Away from a Fracking Ban?

Author:
César Rodríguez
Publication Date:
02-2023
Content Type:
Commentary and Analysis
Institution:
The North American Congress on Latin America (NACLA)
Abstract:
While lawmakers debate a proposed fracking prohibition, deepening struggles over the social and environmental impacts of oil and gas extraction loom.
Topic:
Environment, Oil, Gas, Legislation, Wealth Extraction, and Fracking
Political Geography:
Colombia, South America, and Latin America

3. Big Changes in United Arab Emirates Foreign Policy

Author:
Joshua Krasna
Publication Date:
04-2023
Content Type:
Commentary and Analysis
Institution:
Foreign Policy Research Institute
Abstract:
After a decade of activist policies in the region following the Arab Uprisings, Emirati foreign policy has undergone massive shifts in the past two years. The United Arab Emirates (UAE) has de-escalated and normalized relations with four of the major, and competing, states in the region—Iran, Israel, Turkey and Qatar—as well as with Syria. The UAE is taking a more non-aligned and mediating position in regional and wider issues. The Emirati leadership has made significant progress in using their energy-derived wealth to diversify their economy and ensure retaining a leading position in the world economy in the post-fossil fuels era. Abu Dhabi’s foreign policy is driven, in part, by a perceived need to adapt to a multipolar, “post-American” reality in the region. The country has been irritated, but largely unmoved, by America’s attempts to enlist or coerce them into supporting its policies with respect to Russia and China. The UAE has gained from the crisis between Russia and the West. Oil prices have risen, Russian capital has flown into Emirati financial institutions and investments, and the country has seen a flood of hundreds of thousands of Russian visitors and new residents, leading to a real estate boom.
Topic:
Foreign Policy, Oil, Leadership, Arab Spring, and Regional Politics
Political Geography:
United Arab Emirates and Gulf Nations

4. Autonomy Curbed? Kurdish Oil Exports Hit Snags from Turkey and Baghdad

Author:
Joshua Krasna
Publication Date:
07-2023
Content Type:
Commentary and Analysis
Institution:
Foreign Policy Research Institute
Abstract:
For the past three months, the Kurdish region in northern Iraq and its government, the Kurdish Regional Government (KRG) have been facing one of the most serious challenges in the two decades of its formal existence. The pipeline through which it exports some 400,000 barrels of oil a day (b/d) – 10 percent of the overall Iraqi exports and 0.5 percent of global production – has been closed since March 25, at an estimated cost of close to a billion dollars a month (approximately $30 million daily). The KRG has depended on income from oil exports for some 80 percent of its budget. The stoppage came after a decade-long arbitration between the Government of Iraq (GOI) and Turkey by the Paris-based International Chamber of Commerce was decided in March in Iraq’s favor. Turkey was ordered to cease loading Kurdish oil without GOI supervision, and to pay Baghdad $1.5 billion in owed fees (Baghdad had demanded $30 billion). Baghdad had claimed that use of the pipeline from northern Iraq to the port of Ceyhan in Turkey by the Kurds without GOI consent was in violation of a bilateral agreement between the two countries from 1973, the annex of which states Turkey would only buy oil from Iraq’s state-owned oil marketer.
Topic:
Oil, Economy, Exports, and Autonomy
Political Geography:
Iraq, Turkey, Middle East, and Kurdistan Region of Iraq (KRI)

5. Petroleum and Progress in Iran: An Interview with Gregory Brew

Author:
Mirek Tobiáš Hošman and Gregory Brew
Publication Date:
11-2023
Content Type:
Commentary and Analysis
Institution:
The Toynbee Prize Foundation
Abstract:
Between the 1940s and the 1960s, Iran developed into the world’s first petro-state. In the recently published Petroleum and Progress in Iran: Oil, Development, and the Cold War (2022, Cambridge University Press), author Gregory Brew argues that Pahlavi petro-state emerged from a confluence of global and local forces in the context of the Cold War, the global oil economy, and the nascent practice and discourse of international development assistance. The Toynbee Prize Foundation interviewed Gregory Brew on the main arguments and events of his book. Next to providing a brief chronology of the political and economic development of Iran in post-WW2 decades – including the episode of the failed attempt to nationalize Iranian oil industry in the early 1950s followed by the coup d’état in 1953 – Brew explained the concept of dual integration introduced in his book, which tries to account for both local and global integration of the Iranian oil industry. He also highlighted the role of the international development actors, including the World Bank, American developmentalists and development economists in shaping the Pahlavi regime and the Iranian development project.
Topic:
Development, Oil, History, and Industry
Political Geography:
Iran and Middle East

6. Venezuela Oil Sanctions: Not an Easy Fix

Author:
Luisa Palacios and Francisco J. Monaldi
Publication Date:
03-2022
Content Type:
Commentary and Analysis
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
Russia’s invasion of Ukraine has upended global energy markets and brought energy security issues back to the forefront of global attention. The unexpected visit of a US government delegation to Caracas for talks with Nicolas Maduro on March 5th may be considered an example of official recognition of this imperative.[1] The visit led to speculation that sanctions on the Maduro regime could be lifted and that a rapid ramp up of Venezuelan oil production and export could result.[2] This commentary makes three arguments concerning these recent developments. First, rather than potentially leading to the lifting of US sanctions on the Maduro regime, the visit could result in – provided certain conditions are met – an easing or softening of existing oil sanctions via licenses for some of the international oil companies (IOCs) that still operate in Venezuela.[3] Second, in the short term, it is unlikely that this scenario, should it come to pass, would offer any meaningful relief to global oil markets, as substantial increments in oil production from Venezuela would require overcoming many obstacles and risks, even with a potential softening of oil sanctions. However, the latter would likely lead to the redirection of Venezuela’s existing oil exports to the US market. Third, Venezuela has already seen a recovery of oil production, albeit from historically low levels. In a context of no sanctions relief, continued recovery is not guaranteed and might depend on how geopolitical events impact Russian oil exports and the outcome of the Iranian nuclear negotiations.
Topic:
Energy Policy, Oil, Natural Resources, and Sanctions
Political Geography:
South America and Venezuela

7. Sanctions and the Economic Consequences of Higher Oil Prices

Author:
Christof Ruhl
Publication Date:
04-2022
Content Type:
Commentary and Analysis
Institution:
Center on Global Energy Policy (CGEP), Columbia University
Abstract:
Sanctions against the Russian Federation are developing so fast that it is hard to keep track of them and even harder to see a consistent narrative as events unfold. But there is one. Russia is the world’s largest exporter of energy and commodities. A persistent balance of payment surplus is the source of its financial strength, in terms of both current income and the financial assets previously accumulated by “fortress Russia.” Oil, gas, and coal exports constitute the most valuable revenue streams and are therefore prime targets of sanctions policy.[1] The problem is that energy sanctions will backfire badly if they lead to price increases large enough to derail the economic performance of sanctioning countries.
Topic:
Economics, Energy Policy, Oil, Natural Resources, and Sanctions
Political Geography:
Global Focus

8. Gaining Ground in the Struggle Against Extractivism

Author:
Antulio Rosales and Claudia Rodríguez Gilly
Publication Date:
03-2022
Content Type:
Commentary and Analysis
Institution:
The North American Congress on Latin America (NACLA)
Abstract:
From oil to mining, resource exploitation is the central battlefield for Venezuela’s land and environmental movements.
Topic:
Environment, Oil, Natural Resources, Social Movement, Mining, Land, and Extractive Industries
Political Geography:
South America and Venezuela

9. HOW GERMANY’S COALITION CHANGE CONTRIBUTED TO PUTIN’S STRATEGIC MISCALCULATION IN UKRAINE

Author:
Debra Leiter and Rebecca Best
Publication Date:
02-2022
Content Type:
Commentary and Analysis
Institution:
Political Violence @ A Glance
Abstract:
Vladimir Putin almost certainly failed to anticipate that Germany would be willing to sacrifice the benefits of cheaper Russian gas to punish Russian aggression in Ukraine. But Tuesday, German Chancellor Olaf Scholz indefinitely paused certification of the completed Nord Stream 2 pipeline to “reassess” the situation. While the move didn’t stop Putin from invading Ukraine—by that point Putin already had too much skin in the game to risk the loss of face from backing down—it has substantially raised the costs for Russia. Why did Germany do this, and why didn’t Putin see it coming?
Topic:
NATO, Oil, War, Gas, and Strategic Interests
Political Geography:
Russia, Europe, Ukraine, and Germany

10. Sense and Nonsense behind Energy Price Caps

Author:
Daniel Gros and Nathalie Tocci
Publication Date:
07-2022
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
In official circles at the highest level, from the G7 to the European Council, a tense debate is taking place on what to do about spiralling gas and oil prices, which have either broken or have come dangerously close to breaking record territory. In Europe, a special meeting of the European Council on energy was originally scheduled for the fall, but is now being brought forward, while the European Commission is working on an emergency plan to prepare for a complete cut-off of Russian gas. Energy prices dominate the agenda of our leaders. Yet it is a confused and often confusing debate that is worth unpacking.
Topic:
Climate Change, Oil, Gas, and Energy
Political Geography:
Russia and Europe