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Carbon offsets face credibility issues globally

Location:

INTERNATIONAL

This system is at the heart of corporate ‘net zero’ pledges. However, offsets are also controversial, with critics claiming that they are not just ineffective, but sometimes even…

Oman's LNG exports will increase as oil plateaus

Location:

OMAN

Previously, in January, the energy ministry announced it was offering three new oil and gas concessions. Muscat wants to engage private companies in efforts to unearth fresh…

Prospects for the Russian economy to end-2023

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PROSPECTS H2 2023

Despite recent economic stabilisation, future growth prospects are severely limited owing to Russia’s international isolation. A prolonged war in Ukraine would threaten the…

Foreign exchange shortages will persist in Guyana

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GUYANA

These difficulties have arisen despite the sharp rise in oil output to nearly 143 million barrels last year, from which the government received some USD1.6bn in revenues. Oil…

Saudi Aramco will seek to manage rapid industry change

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SAUDI ARABIA

Yet this follows a government directive that the company cancel increases in its maximum sustainable capacity (MSC) of crude oil production from 12 million barrels per day (b/d…

ASEAN will pursue incremental engagement in Myanmar

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MYANMAR

Myanmar’s junta for the first time accepted the invitation to have a ‘non-political’ representative at high-level ASEAN meetings, standing since its exclusion from such events…

Gulf economies are on a stable track despite risks

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GULF STATES

The IMF has revised downwards its forecast for Saudi GDP growth in 2024 to 2.7% but raised its 2025 forecast to 5.5%. This reflects a positive medium-term outlook for the Gulf…

Prospects for India in 2024

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PROSPECTS 2024

Meanwhile, the government and the Reserve Bank of India (RBI) both expect 6.5% GDP growth in the fiscal year ending March 2024, which would put the country among the top economic…

Emirati economic cohesion could gradually increase

Location:

UNITED ARAB EMIRATES

On November 7-8, senior Emirati officials gathered in Abu Dhabi for an annual meeting focusing on diversifying the economy, chiefly away from reliance on Abu Dhabi's oil, an…

Nigeria's 2024 budget projections are likely untenable

Location:

NIGERIA

Defence and security get the largest sectoral allocation at NGN3.25tn, followed by education at NGN2.2tn and health and infrastructure, each at NGN1.33tn. However, the budget is…