Courtesy: Victor Dubreuil / Wikipedia
The GCC finds itself engulfed by a perfect storm – due to the oil price fall and the re-emergence of Iran on the world scene. While the GCC is forced to undertake politically challenging reforms and confront the regional challenge of Iran, there lies a great opportunity for India to strengthen their economic as well as security ties.
Courtesy:
The jobs of 6.5 million Indians working in GCC countries could be at risk due to the fall in global oil prices. Securing the interests of these workers should be on Prime Minister Modi’s agenda when he visits UAE on August 16-17
Courtesy:
The oil-rich GCC countries are starting to show signs of financial stress maintaining high defense and social spending while the price of oil remains low
Courtesy: Wikipedia
The announcement in June of a Saudi-Israeli alliance against Iran has to be seen in the context of the strategic dimensions of India’s relations with Saudi Arabia, Israel, Iran, and the U.S. And it has far-reaching implications for India’s policy towards West Asia
Courtesy: http://photodivision.gov.in/
Last week, petroleum prices reached a five-year low, and the fall is likely to last as new production and alternative sources enter the market. India, which has a huge petroleum products bill, now has a chance to shock-proof its economy, diversify dependence away from West Asia, and become energy-efficient
Courtesy: wikimedia
The fall in oil prices is creating new complexities for the energy exporting economies of West Asia. With smaller profits, these countries may not be able to buy off political dissent at home and fund client governments and rebels abroad. Lower energy prices could also mean a renewed chance for peace
Courtesy: wikimedia\commons
The growing ISIS-driven violence in Iraq highlights India’s vulnerability to the turmoil in West Asia: we heavily depend on the region for our energy. To insulate the country’s energy security from the upheavals, India must urgently diversify its sources and types of fuel, and develop its own energy ecosystem
Courtesy: Wikipedia.org
The rise of the militant ISIS will alter the stability and future of all West Asian countries, and can impact India in multiple ways. India must re-evaluate its West Asia policy, and address the safety of its nationals in Iraq, the security of its oil supplies, and the fallout on South Asia of this resurgence of strife
Courtesy: Google Maps
An underwater gas pipeline project connecting Oman with India’s west coast is being resurrected. Several factors explain the renewed interest, including the relaxing of sanctions against Iran and India’s need to counter-balance geopolitical and security considerations dogging other land-based projects
Courtesy: counting chest bullets/Flickr
In recent years, U.S. oil and gas imports have declined due to the development of shale resources in the country. How will the production of shale oil, increase in oil production by non-OPEC countries, supply disruptions in West Asia and economic growth in India and China impact global crude oil prices?