Challenges Facing the Gulf Petroleum Industry: Covid-19, New Technologies, Energy Transition

Naji Abi-Aad () and Nikolay Kozhanov ()
Additional contact information
Naji Abi-Aad: Petroleb
Nikolay Kozhanov: Qatar University

Chapter Chapter 2 in GCC Hydrocarbon Economies and COVID, 2023, pp 13-29 from Springer

Abstract: Abstract The outbreak of the Covid-19COVID epidemic and the resulting economic downturn have undermined the already weakened position of the global oil and gas industry. Since the transportation sector depends on 60 percent of energy from oil consumption, movement constraints are quickly interpreted into reduced oil demand. Consequently, various crude oil indices reached their lowest level by mid-2020, when the daily global oil consumption declined to less than 75 million barrels, compared to some 100 million barrels earlier that year, before recovering afterward.

Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-5462-7_2

Ordering information: This item can be ordered from
http://www.springer.com/9789811954627

DOI: 10.1007/978-981-19-5462-7_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().