The future of so-called rentier states, countries with their economies based on extractive resources such as oil, gas and minerals, is under severe pressure. The impact of the Covid-19 black swan event, the resulting oil and gas demand destruction and a possible moving forward of peak oil demand scenarios are causes for concern in the […]

A Russian Bear without Claws? It seems that Putin has forgotten to read the Art of War by Tsun Tzu, several main quotes from which should have been taken on board by Moscow advisors before hitting the market: “If your enemy is secure at all points, be prepared for him. If he is superior in […]

“A Pyrrhic victory is a victory that inflicts such a devastating toll on the victor that it is tantamount to defeat. Someone who wins a Pyrrhic victory has also taken a heavy toll that negates any true sense of achievement or damages long-term progress.” Since the 5thof March, in addition to the coronavirus and its […]

The Aramco IPO, possibly the largest IPO listing of a company ever on stock exchanges, is sailing into uncharted waters. After almost four years of hinting at a US$2 trillion valuation and listings on the New York Stock Exchange (NYSE) and London Stock Exchange (LSE), geopolitics, regional conflict and an unstable global oil market are […]