The oil and gas supply crisis unleashed by the Russian invasion of Ukraine represents new business opportunities for the oil-producing countries of the developing South, both traditional and emerging, and also for accelerating the global transition to green forms of energy.
The emergence of fracking has modified the global market for fossil fuels. But the plunge in oil prices has diluted the effect, in a struggle that experts in the United States believe conventional producers could win in the next decade.
The OPEC Fund for International Development (OFID) has agreed to give the United Nations Industrial Development Organization (UNIDO) a grant in support of a project aimed at improving the productivity and competitiveness of the shrimp value chain in the Latin America and Caribbean (LAC) region.
When, in 2003, Professor Richard Smalley, winner of the Nobel Prize for Chemistry, listed the top 10 problems facing humanity for the next 50 years in order of priority, energy was at the top of his list, followed by water, then food.