GEOPOLITICAL DEVELOPMENT OUTSIDE THE MIDDLE-EAST

The passing of the threat of global conflict has been replaced by a world characterised by civil disorder and war in a number of countries which has implications for those engaged in the global energy business. Geopolitical considerations can be expected to be dominated by economic considerations and the slow recovery of the OECD nations from recession. Russian politics are driven by domestic constraints. Their continued decline in the oil industry is not likely to be reversed without massive investment.