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GCC Hydrocarbon
Economies and
COVID
Old Trends, New Realities
Edited by
Nikolay Kozhanov · Karen Young ·
Jalal Qanas
GCC Hydrocarbon Economies and COVID
Nikolay Kozhanov · Karen Young ·
Jalal Qanas
Editors
GCC
Hydrocarbon
Economies
and COVID
Old Trends, New Realities
Editors
Nikolay Kozhanov Karen Young
Gulf Studies Center Center on Global Energy Policy
Qatar University Columbia University
Doha, Qatar New York, NY, USA
Jalal Qanas
College of Business and Economics
Qatar University
Doha, Qatar
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer
Nature Singapore Pte Ltd. 2023
This work is subject to copyright. All rights are solely and exclusively licensed by the
Publisher, whether the whole or part of the material is concerned, specifically the rights
of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction
on microfilms or in any other physical way, and transmission or information storage and
retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology
now known or hereafter developed.
The use of general descriptive names, registered names, trademarks, service marks, etc. in this
publication does not imply, even in the absence of a specific statement, that such names are
exempt from the relevant protective laws and regulations and therefore free for general use.
The publisher, the authors, and the editors are safe to assume that the advice and
information in this book are believed to be true and accurate at the date of publication.
Neither the publisher nor the authors or the editors give a warranty, expressed or implied,
with respect to the material contained herein or for any errors or omissions that may have
been made. The publisher remains neutral with regard to jurisdictional claims in published
maps and institutional affiliations.
This Palgrave Macmillan imprint is published by the registered company Springer Nature
Singapore Pte Ltd.
The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore
189721, Singapore
Acknowledgments
The editors would like to thank all the authors involved in this book as
well as the Gulf Studies Center at Qatar University that supported this
project and made it possible.
v
Contents
1 Introduction 1
Nikolay Kozhanov
vii
viii CONTENTS
Index 311
Notes on Contributors
xiii
xiv NOTES ON CONTRIBUTORS
MENA region. He was also Head of Research Analysts from July 2010
to July 2013. During his time with the FCO, Greg served in several
British Embassies in the MENA region and in the Consulate General in
Jerusalem. Greg holds degrees in Geography, Arabic and Area Studies
(Middle East, geography and politics). His book “Rivers of Discord:
International Water Disputes in the Middle East” was published in 1997.
He is currently writing a book entitled “A Political Geography of the
Middle East and North Africa.”
Wright Steven is an Associate Professor of International Relations and
an Associate Dean at Hamad bin Khalifa University. He previously served
as an Associate Dean, and the Head of the Department of International
Affairs, at Qatar University. His area of research expertise is on three
main areas: the international relations and political economy of the Arab
Gulf states’ energy geopolitics and US foreign policy toward the Gulf
region. He has published widely in these areas, and his work has been
published in multiple languages, including Arabic, Japanese, French,
and Polish. He has held research fellowships at the London School of
Economics (LSE), Exeter University, and Durham University. He has
been an invited keynote speaker at a wide range of events hosted by lead-
ing organizations such as the World Bank, the Government of Japan,
Institute of Energy Economics, Japan, as well as by several multinational
corporations. He obtained his Ph.D. in International Relations from
Durham University in 2005.
Young Karen is a Senior Research Scholar at Columbia University
in the Center on Global Energy Policy. She was Senior Fellow and
Founding Director of the Program on Economics and Energy at the
Middle East Institute. She was a resident scholar at the American
Enterprise Institute, focusing on the political economy of the Middle
East and the member states of the Gulf Cooperation Council. She
has taught courses on the international relations and economy of the
Middle East at George Washington University and at the Johns Hopkins
School of Advanced International Studies. She regularly teaches at the
US Department of State Foreign Service Institute. Before joining AEI,
she served as senior resident scholar at the Arab Gulf States Institute,
a research and visiting fellow at the Middle East Centre of the London
School of Economics and Political Science, and an assistant professor of
political science at the American University of Sharjah in the UAE. She
was twice awarded a Fulbright fellowship, first to Ecuador and later to
Bulgaria.
xviii NOTES ON CONTRIBUTORS
xix
List of Tables
xxi
CHAPTER 1
Introduction
Nikolay Kozhanov
N. Kozhanov (*)
Gulf Studies Center, Qatar University, Doha, Qatar
e-mail: nikolay@qu.edu.qa
experienced by the oil and gas industries of the GCC member states
after the beginning of the COVID pandemic. Instead, the contributors
analyze how these challenges and subsequent response to them affected
other aspects of the GCC socio-economic and political development.
Consequently, the collective monograph discusses the direct impact of
the COVID on the energy sector of the GCC, socio-economic conse-
quences of the oil market crisis for the region and its potential fallouts
for the international relations of the Persian Gulf.1
The COVID-19 hit the economy of the Gulf monarchies and their oil
and gas sector in several ways simultaneously. First of all, the global oil
glut forced the GCC countries to wage a severe price war for hydrocar-
bon markets’ share. Moreover, in Spring 2020, oil producers had to fight
not so much for expanding their market presence but rather for secur-
ing what they have while being pressured by falling demand. This turned
the market competition into a bloody knife fight where everything goes.
Moreover, during spring–summer 2020, the sharp drop in oil prices has
significantly erased the boundaries of suppliers’ regional specialization,
opening up access for some players to new markets, further increasing
competition. Thus, in the Asian market the GCC countries had to com-
pete not only with Iraq, Russia, and among themselves, but also with the
oil producers of Latin America and West Africa also joined the fight.
With the beginning of recovery in oil consumption in Europe and
Asia and the substantial increase in oil and gas prices by 2022, the situ-
ation has somewhat improved and the competition between producers
got less aggressive, but the situation is still far from being normal. The
current crisis has proved that the future of the GCC countries and their
oil and gas sector will not be cloudless. One of the main problems will be
the growing tensions in the global energy markets. There will be com-
petition between the Gulf countries themselves. The economic devel-
opment model of the leading GCC states is approximately the same.
This means that they will not be able to avoid competition with each
other, given approximately the same directions for their exports, visions
of sources to fund economic development, as well as the overlapping
1 The use of the term “Persian Gulf” in this book does not endorse any nationalistic
agenda. The editor and authors use it following the most common practice to name the
body of water that in some studies is also called “the Arabian Gulf.” Moreover, in the book
the preference is given to the shorter version of the geographical name—“the Gulf”—in
order to avoid sensitive and unnecessary political discussions.
Another random document with
no related content on Scribd:
que soit ce morceau du lever du soleil, si varié, si brillant, si
complet? Il consiste dans un simple accord d’ut, répété sans cesse,
et auquel Rossini n’a mêlé qu’un accord de quart et sixte. En ceci
éclate la magie de son faire. Il a procédé, pour vous peindre l’arrivée
de la lumière, par le même moyen qu’il employait pour vous peindre
les ténèbres et la douleur. Cette aurore en images est absolument
pareille à une aurore naturelle. La lumière est une seule et même
substance, partout semblable à elle-même, et dont les effets ne sont
variés que par les objets qu’elle rencontre, n’est-ce pas? Eh! bien, le
musicien a choisi pour la base de sa musique un unique motif, un
simple accord d’ut. Le soleil apparaît d’abord et verse ses rayons sur
les cimes, puis de là dans les vallées. De même l’accord poind sur la
première corde des premiers violons avec une douceur boréale, il se
répand dans l’orchestre, il y anime un à un tous les instruments, il s’y
déploie. Comme la lumière va colorant de proche en proche les
objets, il va réveillant chaque source d’harmonie jusqu’à ce que
toutes ruissellent dans le tutti. Les violons, que vous n’aviez pas
encore entendus, ont donné le signal par leur doux trémolo,
vaguement agité comme les premières ondes lumineuses. Ce joli, ce
gai mouvement presque lumineux qui vous a caressé l’âme, l’habile
musicien l’a plaqué d’accords de basse, par une fanfare indécise
des cors contenus dans leurs notes les plus sourdes, afin de vous
bien peindre les dernières ombres fraîches qui teignent les vallées
pendant que les premiers feux se jouent dans les cimes. Puis les
instruments à vent s’y sont mêlés doucement en renforçant l’accord
général. Les voix s’y sont unies par des soupirs d’allégresse et
d’étonnement. Enfin les cuivres ont résonné brillamment, les
trompettes ont éclaté! La lumière, source d’harmonie, a inondé la
nature, toutes les richesses musicales se sont alors étalées avec
une violence, avec un éclat pareils à ceux des rayons du soleil
oriental. Il n’y a pas jusqu’au triangle dont l’ut répété ne vous ait
rappelé le chant des oiseaux au matin par ses accents aigus et ses
agaceries lutines. La même tonalité, retournée par cette main
magistrale, exprime la joie de la nature entière en calmant la douleur
qui vous navrait naguère. Là est le cachet du grand maître: l’unité!
C’est un et varié. Une seule phrase et mille sentiments de douleur,
les misères d’une nation; un seul accord et tous les accidents de la
nature à son réveil, toutes les expressions de la joie d’un peuple.
Ces deux immenses pages sont soudées par un appel au Dieu
toujours vivant, auteur de toutes choses, de cette douleur comme de
cette joie. A elle seule, cette introduction n’est-elle pas un grand
poëme?
—C’est vrai, dit le Français.
—Voici maintenant un quinquetto comme Rossini en sait faire; si
jamais il a pu se laisser aller à la douce et facile volupté qu’on
reproche à notre musique, n’est-ce pas dans ce joli morceau où
chacun doit exprimer son allégresse, où le peuple esclave est
délivré, et où cependant va soupirer un amour en danger. Le fils du
Pharaon aime une Juive, et cette Juive le quitte. Ce qui rend ce
quintette une chose délicieuse et ravissante, est un retour aux
émotions ordinaires de la vie, après la peinture grandiose des deux
plus immenses scènes nationales et naturelles, la misère, le
bonheur, encadrées par la magie que leur prêtent la vengeance
divine et le merveilleux de la Bible.
—N’avais-je pas raison? dit en continuant la duchesse au
Français quand fut finie la magnifique strette de
Voci di giubilo
D’in’orno echeggino,
Di pace l’Iride
Per noi spuntò.